The Bank of Ghana allocated GH¢675.4 million for currency printing in 2023, marking a 107.4% surge compared to the GH¢325.64 million expenditure in 2022, as detailed in its 2023 Annual Report and Financial Statement.
Additionally, the report highlighted that the Central Bank expended GH¢7.32 million on other currency management operations in 2023, compared to GH¢6.54 million in 2022.
Agency fees amounted to GH¢6.136 million in 2023, up from GH¢4.75 million in the previous year, resulting in a total currency issuance expense of GH¢688.87 million in 2023.
GH¢44.55bn were in circulation in 2023
In total, GH¢44.55 billion circulated in 2023, contrasting with approximately GH¢36.07 billion in 2022.
Regarding currency deposits in various denominations, GH¢29.7 billion were in cedis, GH¢16.9 billion in dollars, GH¢988 million in pounds, and GH¢4.68 billion in euros. Other currencies totaled around GH¢25.45 million.
As for specific notes in circulation, GH¢12.32 billion worth of GH¢200 notes circulated in 2023, compared to GH¢9.87 billion in the previous year.
For the GH¢100 note, GH¢14.57 billion circulated in 2023, compared to GH¢8.69 billion in 2022.
In 2023, the circulation of GH¢50, GH¢20, and GH¢10 notes amounted to 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 worth of GH¢5, GH¢2, and GH¢1 notes were in circulation in 2023.
Regarding coins, GH¢231.02 million worth of GH¢2 coins circulated in 2023, compared to GH¢207.49 million worth of GH¢1 coins.
As for the 50 pesewa, 20 pesewa, and 10 pesewa coins, GH¢253.56 million, GH¢120.99 million, and GH¢54.64 million were in circulation last year.