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Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
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 GH¢7.32 million in 2023 on other currency management operations, as against GH¢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 GH¢688.87 million.
Overall, GH¢44.55 billion were in circulation in 2023, as against about GH¢36.07 billion in 2022.
Overall, GH¢44.55 billion were in circulation in 2023, as against about GH¢36.07 billion in 2022.