The Bank of Ghana (BoG) has urged Ghanaians not to rush to replace their existing cedi notes when the new Heritage Series banknotes enter circulation.

The central bank said the current banknotes will remain legal tender and circulate alongside the new notes, meaning there will be no deadline for the public to exchange their existing cash.

Director and Head of Currency Management at the BoG, Dominic Owusu, said Ghanaians would be free to use either the old or new notes for transactions.

“You don't need to rush to go and exchange your existing notes,” Owusu said.

IFC lines up $150m for Volta project and railway to northern Ghana

He explained that both versions would continue to circulate until the Bank of Ghana announces otherwise.

“Both the old and the new will continue to be legal tender until further notice. So they will co-circulate together,” he added.

The assurance comes as the Bank prepares to introduce the upgraded Heritage Series, which is designed to improve the security, durability and functionality of Ghana’s banknotes.

Owusu clarified that the Heritage Series will not introduce any denomination above the existing GH¢200 note.

The upgraded series will cover the GH¢1, GH¢2, GH¢5, GH¢10, GH¢20, GH¢50, GH¢100 and GH¢200 notes.

The central bank will also roll out a public education campaign once the Heritage Series enters circulation.

The exercise will focus on helping Ghanaians identify the new notes, understand their security features and authenticate them during transactions.

Owusu also appealed to the public to handle the cedi with care, describing the currency as an important representation of Ghana’s national identity.

DR/MA

Technology will be key to improving air traffic management – President Mahama