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2013•Unpublished venueRequires access

Monthly Effect on the Volume of Currency in Circulation in Ghana

Albert Luguterah, Lea Anzagra, Suleman Nasiru

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Abstract

In this study, the month-of–the-year effect on the volume of Currency in Circulation in Ghana was studied. The “New Year effect ” was seen in the volume of Currency in Circulation as the first three months of the year clearly indicate a decrease in the volume of Currency in Circulation. of the Currency in Circulation by 7.4309, 5.0307 and 0.2112 percent respectively. The “December effect ” was also seen in the volume of Currency in Circulation as the month of December had the (18.6046%). The findings of the study also revealed that the seasonal changes in Currency in Circulation are a reflection of the effect of celebrative periods on Currency in Circulation.

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What this paper is about

In this study, the month-of–the-year effect on the volume of Currency in Circulation in Ghana was studied. The “New Year effect ” was seen in the volume of Currency in Circulation as the first three months of the year clearly indicate a decrease in the volume of Currency in Circulation. of the Currency in Circulation by 7.4309, 5.0307 and 0.2112 percent respectively. The “December effect ” was also seen in the volume of Currency in Circulation as the month of December had the (18.6046%). The findings of the study also revealed that the seasonal changes in Currency in Circulation are a reflection of the effect of celebrative periods on Currency in Circulation.

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Available abstract

In this study, the month-of–the-year effect on the volume of Currency in Circulation in Ghana was studied. The “New Year effect ” was seen in the volume of Currency in Circulation as the first three months of the year clearly indicate a decrease in the volume of Currency in Circulation. of the Currency in Circulation by 7.4309, 5.0307 and 0.2112 percent respectively. The “December effect ” was also seen in the volume of Currency in Circulation as the month of December had the (18.6046%). The findings of the study also revealed that the seasonal changes in Currency in Circulation are a reflection of the effect of celebrative periods on Currency in Circulation.

Key concepts: Circulation (fluid dynamics), Currency, Volume (thermodynamics), Market liquidity, Economics, Monetary economics, Engineering, Physics

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