Cedi Notes

So soon! Fake 100 cedi notes in town (PHOTO)

The Bank of Ghana (BoG) some few months ago launched new higher denomination Ghana cedi banknotes.

Cedi Notes

They are GH¢100 and GH¢200 banknotes and 2 Cedi coin.

The introduction of the new notes is to complement the existing series to ensure customer convenience and bring about efficiency in the printing of currency to generate savings for the country.

In May last year, BoG put into circulation, upgraded banknotes of the Ghana Cedi. The rationale for upgrading the banknotes was primarily to enhance the security features of the banknotes in the context of an evolving technological landscape and to bring on board features that will secure the currency and make it difficult for counterfeiting.

In addition to enhancing the security features, the upgraded banknotes came with specific features to improve durability and enhance their machine readability.

Also Read: BoG spends GH¢153 million on printing cedi notes in 2018

The upgrade exercise retained the design features of the existing series of banknotes and coins as introduced 12 years ago in 2007, in a redenomination exercise that sought to recalibrate the currency due to significant deadweight burden which was a legacy of long periods of high inflation and currency devaluation.

The Governor said the introduction of the high-value notes should not be misinterpreted to mean a shift away from the Central Banks policy of pursuing a cashless society and promoting the use of electronic modes of payments.

However, just some few months after the new cedi notes  was introduced, some individuals have taken upon themselves to also produce a similar one to that of the original Cedi Notes and anyone who have ever seen the 100 cedi note before will be able to recognize the fake one

Below is the picture of the fake note ;