Bank of Ghana Advocates for Improved Banknote Handling as Cedi Trades at GHS 12.20 on Forex Market

The Bank of Ghana (BoG) has intensified its call for market operators and the general public to practice better cash-handling techniques to preserve the integrity of the national currency and protect public health. This appeal, led by Dr. Johnson Pandit Asiama, comes as the Ghanaian Cedi experiences slight depreciation on the international market. As of July 11, 2026, the local currency is trading at GHS 12.20 for sales at various forex bureaus, while the Bank of Ghana’s interbank selling rate stands at GHS 11.49. The central bank emphasizes that the physical condition of banknotes is not merely a matter of aesthetics but a significant economic and sanitary concern.

In the current forex market, the Cedi's performance reflects a marginal decline from previous sessions, with buying rates at bureaus averaging GHS 11.85. Comparative rates for other major currencies show the British Pound trading at approximately GHS 16.05 for selling and the Euro at GHS 13.73. Despite these fluctuations, money transfer services such as LemFi and Taptap Send continue to provide competitive remittance rates for digital subscriptions and international transfers. The BoG’s official reporting of a buying rate of GHS 11.47 suggests a concerted effort to manage liquidity and exchange stability amidst these ongoing market pressures.

Beyond the fiscal value of the currency, the central bank is highlighting the hidden costs of physical banknote deterioration. Dr. Asiama noted that poor sanitation and improper handling—often seen in busy market environments—result in banknotes becoming conduits for bacteria and accelerating their wear and tear. This rapid deterioration forces the central bank to incur high costs for the frequent printing and replacement of damaged notes, which places an avoidable strain on the national economy. The Governor's remarks, delivered during a national clean-up drive, underscore the vital link between environmental hygiene and the longevity of physical legal tender.

Looking ahead, the Bank of Ghana has pledged to collaborate more closely with market authorities to promote sustainable cash-handling practices. This includes education on the health risks associated with dirty banknotes and the economic benefits of keeping the Cedi clean. As the country navigates current exchange rate challenges, the central bank maintains that collective responsibility in handling the physical currency will contribute to broader fiscal discipline and reduced operational costs for the BoG. This initiative marks a strategic shift toward integrating public health awareness with traditional monetary management.