The Bank of Ghana spent GH¢675.4 million to print currencies in 2023.
According to its 2023 Annual Report and Financial Statement, this is a 107.4% increase over the GH¢325.64 million recorded in 2022.
The report also said the Central Bank also spent ¢7.32 million in 2023 on other currency management operations, as against ¢6.54 million in 2022.
Agency fees stood at GH¢6.136 million in 2023, as against GH¢4.75 million the previous year
This put the total currency issue expense in 2023 at ¢688.87 million.
GH¢44.55bn were in circulation in 2023
Overall, GH¢44.55 billion were in circulation in 2023, as against about ¢36.07 billion in 2022.
Concerning deposits in various currencies, GH¢29.7 billion cedis were cedi denominated, GH¢16.9 billion in dollars, GH¢988 million in pounds and GH¢4.68 billion in euros. Other currencies were estimated at ¢25.45 million.
In terms of the notes in circulation, GH¢12.32 billion of the GH¢200 note was in circulation in 2023. This is compared with GH¢9.87 million the previous year.
For the ¢100 note, GH¢14.57 billion were in circulation in 2023, as against GH¢8.69 billion in 2022.
The ¢50, ¢20 and ¢10 notes in circulation in 2023 were GH¢8.06 billion, GH¢5.06 billion and GH¢2.46 billion respectively.
On the other hand, GH¢1.09 billion, GH¢31.6 million and GH¢11.27 million of the ¢5, ¢2 and ¢1 notes were in circulation in 2023.
For the coins, ¢231.02 million of the GH¢2 was in circulation in 2023, as against ¢207.49 million of the GH¢1.
About the 50 pesewa, 20 pesewa and 10 pesewa coins, ¢253.56 million, GH¢120.99 million and GH¢54.64 million were in circulation last year.
Latest Stories
-
Providing quality seeds to farmers is first step towards achieving food security in Ghana
4 seconds -
Give direct access to Global Health Fund – Civil Society calls allocations
3 hours -
Akufo-Addo commissions 200MW plant to boost economic growth
4 hours -
Smallholder farmers to make use of Ghana Commodity Exchange
4 hours -
I want to focus more on my education – Chidimma Adetshina quits pageantry
4 hours -
Priest replaced after Sabrina Carpenter shoots music video in his church
4 hours -
Duct-taped banana artwork sells for $6.2m in NYC
5 hours -
Arrest warrants issued for Netanyahu, Gallant and Hamas commander over alleged war crimes
5 hours -
Actors Jonathan Majors and Meagan Good are engaged
5 hours -
Expired rice saga: A ‘best before date’ can be extended – Food and Agriculture Engineer
5 hours -
Why I rejected Range Rover gift from a man – Tiwa Savage
5 hours -
KNUST Engineering College honours Telecel Ghana CEO at Alumni Excellence Awards
5 hours -
Postecoglou backs Bentancur appeal after ‘mistake’
6 hours -
#Manifesto debate: NDC to enact and pass National Climate Law – Prof Klutse
6 hours -
‘Everything a manager could wish for’ – Guardiola signs new deal
6 hours