No new or higher-denomination banknotes will be issued as part of the Bank of Ghana’s (BoG) “Heritage Series” rollout on November 3, the central bank has announced.

The central bank has clarified that the Heritage Series will not introduce new banknotes but rather upgrade the existing currencies.This information was made public by the Director of the Currency Management Department at the Bank of Ghana, Dominic Owusu, while speaking to the media on Friday, September 25.

The Director of the Currency Management Department has urged the public to disregard false claims concerning the introduction of new notes and higher denominations, such as GH¢500.

He added, “It will also come with improved durability and modern designs that reflect Ghana’s heritage and aspirations.They [currencies] are designed to provide stronger protection against counterfeiting, withstand the demands of prolonged circulation, and support more efficient and cost-effective currency management”.

He emphasised that the upgrade would cover the existing denominations in circulation, with no changes beyond the GH¢200 note.

The Ghanaian cedi marked its 60th anniversary on Tuesday, October 28, symbolizing the nation’s economic independence. To commemorate the milestone, the Bank of Ghana (BoG) held an official launch at the Accra International Conference Center under the theme, “60 Years of the Cedi: A Symbol of Sovereignty, Stability, and Economic Resilience.”The celebration represented Ghana’s economic journey and resilience over the past six decades. Vice President Jane Naana Opoku-Agyemang graced the occasion alongside other government officials.Since its introduction on July 19, 1965, the cedi has undergone several reforms and redesigns to reflect the nation’s evolving economic landscape.Speaking at the event, the BoG Governor, Johnson Pandit Asiama, noted that the celebration aims to rekindle public confidence in the national currency.Meanwhile, the Bank of Ghana will begin selling portions of its gold reserves in exchange for foreign currency to banks and other market participants under its Domestic Gold Purchase Programme.

According to the BoG, only approved banks will be permitted to participate in the auctions, which are scheduled to take place every week. Speaking at a meeting with heads of commercial banks in Accra, the Governor of the Bank of Ghana, Dr. Johnson Asiama, said the exercise will be fair and transparent to ensure equal access for all market participants.

“Beginning October 2025, the Bank of Ghana will commence foreign exchange (FX) intermediation under the Domestic Gold Purchase Programme, with plans to sell up to US$1.15 billion for the month. These sales will be conducted on a spot basis through twice-weekly, price-competitive auctions open to all licensed banks,” he said.