The 2023 Annual Report and Financial Statement published by the Bank of Ghana revealed that the bank allocated GH¢675.4 million for currency printing in 2023.
The report indicated that this expenditure marks a 107.4% increase from the GH¢325.64 million spent in 2022.
Moreover, the report highlighted that the Central Bank incurred GH¢7.32 million in 2023 for other currency management activities, up from GH¢6.54 million in 2022.
Agency fees in 2023 amounted to GH¢6.136 million, compared to GH¢4.75 million in the previous year.
Consequently, the total expense for currency issuance reached GH¢688.87 million in 2023, as detailed in the report. The report also noted that GH¢44.55 billion were in circulation in 2023.
In total, GH¢44.55 billion was in circulation in 2023, an increase from approximately GH¢36.07 billion in 2022.
Regarding deposits in different currencies, there were GH¢29.7 billion in cedis, GH¢16.9 billion in dollars, GH¢988 million in pounds, and GH¢4.68 billion in euros. Other currencies amounted to GH¢25.45 million.
Regarding currency in circulation, GH¢12.32 billion worth of GH¢200 notes were in circulation in 2023, up from GH¢9.87 billion in the previous year.
For GH¢100 notes, the circulation amount was GH¢14.57 billion in 2023, compared to GH¢8.69 billion in 2022.
The circulation amounts for GH¢50, GH¢20, and GH¢10 notes in 2023 were GH¢8.06 billion, GH¢5.06 billion, and GH¢2.46 billion, respectively.
In addition, GH¢1.09 billion, GH¢31.6 million, and GH¢11.27 million worth of GH¢5, GH¢2, and GH¢1 notes were in circulation in 2023.
As for coins, 231.02 million GH¢2 coins were in circulation in 2023, while GH¢1 coins numbered 207.49 million.
There were GH¢253.56 million, GH¢120.99 million, and GH¢54.64 million worth of 50 pesewa, 20 pesewa, and 10 pesewa coins, respectively, in circulation last year.