BoG launches gold coin to absorb liquidity

The Bank of Ghana has introduced the Ghana Gold Coin, made from locally sourced dowry gold refined to 99.99% purity. Dr. Ernest Addison, the Governor of the Bank of Ghana, stated that the coin is issued and guaranteed by the central bank. It is available in three denominations: one ounce, half ounce, and quarter ounce, to cater to various investment needs.

The governor stated that the gold coin will help the central bank absorb excess liquidity in the banking sector, supplementing the use of Bank of Ghana bills and overnight deposits for liquidity management. He added that the coin will be available in commercial banks within two weeks, with prices to be published on the Bank of Ghana’s platforms.

Source: Ghana/Starrfm.com.gh/103.5FM