WHEN WILL THE NEW MONEY PREVAIL IN BANK TRANSACTIONS?

One would have thought that all monies issued by banks to their customers   would be new money as Government claims to be phasing out the old currency. Here and there one comes across disputes over the two types of twenty dalasi notes which are in circulation.

The old notes still dominate in cash transactions. The existence of old and new currencies poses a dilemma on the value of the currencies in circulation which could impact on inflationary pressures if they exceed the values of goods and services in the market.

The Central Bank needs to give updates on the percentage of the old currency which has been replaced and put out of circulation. This is the best way of preventing more economic shocks blamed on speculators.