[ad_1]
Company News on Tuesday, April 9, 2019
Source: citibusinessnews.com
2019-04-09
Ernest Addison, Governor of the Bank of Ghana
The Bank of Ghana (BoG) has stated that the introduction of the improved cedis rating was a normal exercise it was doing to combat counterfeiting of the currency.
Enhanced Notes are expected to be outstanding as of May 6, 2019.
According to the central bank, old and new notes will be used simultaneously until the gradual disappearance of old ones.
The last time such a general exercise took place dates back to 2007, when all the notes were rephrased by the then administration, John Kufuor. Both cedi and five cedi tickets were revalued in 2010 and 2016 respectively.
According to the new upgrade, the cowrie shell on the GH ¢ 10, the star on the GH ¢ 20 and the cocoa capsule on the GH ¢ 50 will now have a shiny line that will move up and down when they will be inclined. This feature is called an optically variable magnetic image.
Another new feature is the new enhanced security thread (RAPID). It will be a brilliant dotted line with a movement that runs through the bank note from top to bottom. It is continuous when viewed against the light. When the note is tilted, a star expands and contracts while the denomination value remains stationary.
In addition, the notes will have a larger watermark. With that, the image of Tetteh Quarshie with a cocoa pod would be more noticeable in the star's star zone. It becomes visible on both sides when it is seen against the light. The naming value is also visible in the watermark area.
There is also the improved iridescent band at the back of the ticket: it's a gold band with gold bars at the back of the bill that extends from top to bottom. low. We can see more clearly when the note is inclined against the light.
However, portraits of the Big Six, confessional colors, red for 1 cedi, yellow for 2 cedis, blue for 5 cedis for 20 cedis and brown for 50 cedis will not change.
The dimensions of the different denominations and other main and background images will also remain the same.
According to the Bank of Ghana, exercise is a normal routine.
"In line with best practices, which is done elsewhere, you will find that in about seven years, countries would change their bank notes. For example, if all their technological systems change, it means that the way they print the notes are even different and we can not stay behind. For us, it might be more expensive to stay as before. With respect to counterfeiting, each country suffers in one way or another, its extent may vary from one country to another, "said Esi Hammond, head of communications at the Bank of Ghana, when a telephone interview.
The Bank of Ghana urged the public not to rush to exchange notes.
"There are payment systems in development, we use ATM these days and we need to know that as tickets go through ATM, they can be detected if they are not good notes. . For example, you want the serial numbers to be read and read correctly or very well. So we need notes compatible with these changes over time, she added.
Source link
