Bank of Ghana (BoG) provided its 2023 Annual Report and Financial Statement, which shows that the bank’s currency printing expenses in 2023 totaled GH¢675.4 million.
According to the study, the sum is a 107.4% rise over the GH¢325.64 million that was reported in 2022.
The report additionally indicated that, in contrast to GH¢6.54 million in 2022, the Central Bank spent GH¢7.32 million in 2023 on other currency management operations.
In 2023, agency fees hit GH¢6.136 million, a GH¢4.75 million increase from the year before.
According to the study, this resulted in a total currency issue expense of GH¢688.87 million in 2023.
Additionally, the research stated that in 2023 there were GH¢44.55 billion in circulation.
In 2023, there was an overall GH¢44.55 billion in circulation, as opposed to roughly GH¢36.07 billion in 2022.
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 among the various currency deposits. The total in other currencies was GH¢25.45 million.
In 2023, there were GH¢12.32 billion of the GH¢200 note in circulation, as opposed to GH¢9.87 billion the year before.
In 2023, there were GH¢14.57 billion of the GH¢100 note in circulation, compared to GH¢8.69 billion in 2022.
In 2023, there were GH¢8.06 billion, GH¢5.06 billion, and GH¢2.46 billion worth of GH¢50, GH¢20, and GH¢10 notes in circulation.
Furthermore, in 2023, there were GH¢1.09 billion, GH¢31.6 million, and GH¢11.27 million of the GH¢5, GH¢2, and GH¢1 notes in circulation.