THE Bank of Ghana says it will not extend the December 31, 2007 deadline for the use of the old currency as legal tender.

THE Governor of the Bank of Ghana, Dr. Paul Acquah, has said that the central bank will continue with reforms and policy interventions to position the financial system strategically to translate the macroeconomic stability into accelerated growth.

THE recent statistics given by the Governor of the Bank of Ghana on the redenomination indicates that the change over of the cedi notes I s moving steadily while that of the coins is not encouraging.

The Bank of Ghana’s 3 and 5-year bonds starts selling today. The Central Bank intends to raise some $30 million with the issue of the 3-year bond while the 5-year will raise about $50 million.

Investors had up to 12 noon Wednesday to buy the bonds. Meanwhile foreign currency dealers believe this bond will strengthen the cedi against the foreign currencies. This is because they expect a lot of foreign investors to come in with their currency to buy the bonds.

Accra, Dec. 10, GNA - The following are the average inter-bank exchange rate of the dollar and derived rates for the major currencies against the cedi as issued by the Ghana Association of Bankers on Monday, December 10, 2007.

The Bank of Ghana has decided to change the ISO Code of the re-denominated Ghana cedi to GHS, from GHC.

*Please Note: The symbol for the Ghana Cedi is GH¢, the symbol for cedi is ¢

• Remember that the old cedi notes will cease to be legal tender as from 1st January, 2008.
• This means you won’t be able to use it to buy any goods, or use it as change, but you can still change it at the bank.
• Make the effort to change the old currencies at the Bank of Ghana, any commercial bank, rural bank, or savings and loans company before end-December, 2007.
• Use Ghana Pesewa coins for purchases, and please handle the notes with care.

IT IS YOUR MONEY, PROTECT IT.