Source: newsthemegh.com
The Bank of Ghana (BoG) has disputed the claims made in social media that it intends to launch a new ¢500 currency.
The central bank made it clear that it has no immediate plans to add a new denomination to the nation’s monetary system in a statement released on Monday.
The announcement said, “The Bank of Ghana wishes to advise the public that it has not decided to release a ¢500 coin or note.
The BoG further asked the public to ignore any information about the purported introduction of the new denomination, stressing that it is still dedicated to its mandate of preserving price stability and guaranteeing a healthy financial system.
Many Ghanaians were perplexed by the rumors of a new ¢500 cedi coin and note, and many of them expressed worry about how it may affect the economy and the risk of inflation.
This most recent development comes after a comparable occurrence in 2019, when social media reports of the introduction of a ¢1,000 note sparked massive public outrage.
The BoG then reiterated its denial of the claims, saying it had not decided to adopt the new nomenclature.
The nation’s central bank warned the public to be wary of false information and urged them to rely on its official communications for any updates on the nation’s monetary system.