10.01.2008 Business & Finance

Residents rush to change old currencies for new

Residents rush to change old currencies for new
10.01.2008 LISTEN

Two-weeks after the old currency ceased to be legal tender, there is a rush for changing the old currency for the new ones at the Banks in the Koforidua Municipality.

Despite the six months period given by the Bank of Ghana (BoG), for the old cedis to be used alongside the new Ghana cedis, a survey in the New Juaben Municipality on Thursday, confirmed that the old currency was still in the system.

Although, it was not being used for transactions, queues at the special desks created for the changing purposes in some of the banks showed that, people still had the money in their possession.

The banks, including the Ghana Commercial Bank,
SG-SSB, Barclays Bank and the rural banks, had all in compliance with the BoG directive dedicated teller booths specifically for that.

The Koforidua Deputy Manager of the Ghana Commercial Bank, Mr Samuel Adasi said, initially they experienced long queues with people coming to change their money.

He said two of the tellers had been put in charge of changing from the old to the new currency and also to change the new Ghana Cedi coins for traders who have been coming to the bank for smaller denominations.

Some of the customers who were seen counting the old currency at the various banks apparently for change expressed satisfaction with the way the banks were handling the process.

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