Ghanaian cedi
Encyclopedia
The Ghana Cedi is the unit of currency
of Ghana
. The word "cedi" is derived from the Akan
word for cowry shell
. (Cowry shells were once used in Ghana as a form of currency.) The Ghana cedi was introduced on 3 July 2007 and is equal to 10,000 old cedis. It was the highest-valued currency unit issued by sovereign countries in Africa
in 2007.
One Ghana cedi is divided into one hundred Ghana pesewas (Gp).
A number of Ghanaian coins have also been issued in Sika
denominations. These are probably best considered as "medallic" coinage, and may have no legal tender status. The word sika means "gold."
struck through with a vertical or slightly angled bar
. The symbol was accepted for encoding in Unicode
as U+20B5 in 2004. It should not be confused with the colón
sign (Unicode: U+20A1; decimal: 8353) or the cent
sign ¢ (Unicode: U+00A2; decimal: 162).
However, because some font
s do not provide a cedi character, the cent sign is often used in its place, including all official Ghanaian documents.
Unlike the cent sign, however, the cedi always precedes the numerical value and in official use is always preceded by the letters GH.
at a rate of 2.4 cedi = 1 pound, or 1 pesewa = 1 penny. The first cedi was pegged to the British pound at a rate of 2.4 cedis = 1 pound.
's image from coins and notes.
The second cedi was initially pegged to the British pound at a rate of 2 cedi = 1 pound. However, within months, the second cedi was devalued to a rate of 2.45 second cedi = 1 pound, less than the value of the first cedi. This rate was equivalent to 1 cedi = 0.98 US dollars and the rate to the dollar was maintained when the British pound was devalued in November 1967. Further pegs were set of $0.55 in 1971, $0.78 in 1972 and $0.8696 in 1973 before the currency was floated in 1978. High inflation ensued, and so the cedi was re-pegged at ₵2.80 = $1.00.
Inflation continued to eat away at the cedi's value on the black market. In the early eighties, the government started cracking down hard on the retail of products at prices other than the official established sale price (price controls). This had the effect of driving nearly all commerce underground, where black market prices for commodities were the norm, and nothing existed on store shelves. By 1983, the cedi was worth about 120 to one US dollar on the black market, a pack of cigarettes cost about ₵150 (if they could be found), but the bank rate continued at ₵2.80 = $1.00. Finally, with foreign currency completely drying up for all import transactions, the government was forced to begin a process of gradual devaluation, and a liberalization of its strict price controls. This process ended in 1990 with a free float of the cedi against foreign currencies. Inflation continued (see exchange rate chart) until by July 2007, the cedi was worth about 9500 to one US dollar, and a transition to the third cedi was initiated.
In 1979, a currency confiscation took place. New banknotes were issued which were exchanged for old at a rate of 10 old for 7 new. Coins and bank accounts were unaffected.
A second confiscation took place in 1982, when the ₵50 note (the highest denomination) was demonetized. Ghanaians, in theory, could exchange any number of ₵50 notes for coins or other banknotes without loss, but foreigners could not make any exchange. However, many Ghanaians who were hoarding large amounts of Cedis feared reprisal if they tried to convert all of it, and so simply burned a lot of their money. Many other Ghanaians received "promise payment notes" from the banks, but never received compensation. This confiscation was publicly justified as a means to create a disincentive for the flourishing black market. However, from a monetary perspective, currency confiscations have the effect of reducing the available cash in the economy, and thereby slowing the rate of inflation. After the ₵50 note confiscation, the ₵20 note was the highest cedi denomination, but had a street value of only about $0.35 (US).
After the ₵50 note confiscation, fears existed that the Government could also confiscate the ₵20 or even the ₵10 notes. This fear, along with inflation running at about 100% annually, started causing Ghanaian society to lose its faith in its own currency. Some transactions could only then be done in foreign currencies (although that was technically illegal), and other more routine transactions began to revert to a barter economy.
The external purchasing power of the old and new currencies are the same; the cedi was neither devalued nor re-valued, only redenominated. Because of this change, Ghana's currency became one of the highest-valued currency units from one of the least valued currency unit
s.
A new ISO currency code GHS was also introduced on this date. In addition, the central bank named the third cedi the Ghana Cedi and assigned the symbol GH₵ to distinguish it from the second cedi, currently known as the cedi with the symbol ₵. The Ghana cedi will, from January 2008, be simply known as the cedi.
.
In 1967, coins for the second cedi were introduced in denominations of ½, 1, 2½, 5, 10 and 20 pesewas. In 1979, coins for 50 pesewas and 1 cedi were introduced. These were replaced in 1984 by smaller types alongside a new 5 cedi coin. All these early issues have since fallen out of circulation due to inflation.
In 1991, 10, 20, 50 and 100 cedi coins were introduced, followed by 200 and 500 cedis in 1996. These six denominations are still in circulation. However, the 10 cedis (~0.1 US cents) and 20 cedis (~0.2 US cents) coins were not seen much due to their small value.
In 1983, a new banknote series was introduced in denominations of ₵10, ₵20, ₵50, ₵100 and ₵200 cedis. Higher denomination banknotes were later introduced: ₵500 (1986), ₵1000 (1991), ₵2000 (1995), ₵5000 (1996), ₵10,000 and ₵20,000 (2002). In 2005, banknotes in circulation were ₵1000, ₵2000, ₵5000, ₵10,000 and ₵20,000.
. The Bank of Ghana has launched a website on this re-denomination campaign. A new GH₵2 Cedi banknote was issued on May 14, 2010 to meet public need for an intermediary denomination and reduce the frequency, and associated cost, of printing large volumes of the GH₵1 banknote. The introduction of the new denomination coincides with the conclusion of the year-long centenary celebrations of the birth of Dr. Kwame Nkrumah, Ghana’s first president, and has the commemorative text “CENTENARY OF THE BIRTH OF DR. KWAME NKRUMAH”.
http://www.ghanaweb.com/GhanaHomePage/economy/forex.php
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
. The word "cedi" is derived from the Akan
Akan languages
The Central Tano or Akan languages are languages of the Kwa language family spoken in Ghana and Ivory Coast by the Akan people*Akan language *Bia**North Bia***Anyin***Baoulé***Chakosi ***Sefwi **South Bia***Nzema...
word for cowry shell
Cowry
Cowry, also sometimes spelled cowrie, plural cowries, is the common name for a group of small to large sea snails, marine gastropod molluscs in the family Cypraeidae, the cowries...
. (Cowry shells were once used in Ghana as a form of currency.) The Ghana cedi was introduced on 3 July 2007 and is equal to 10,000 old cedis. It was the highest-valued currency unit issued by sovereign countries in Africa
Africa
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
in 2007.
One Ghana cedi is divided into one hundred Ghana pesewas (Gp).
A number of Ghanaian coins have also been issued in Sika
Sika
Sika may refer to several things including* Sika , an ethnic group in Indonesia*Sika language, the language of the Sika people*Sika Deer, a species of deer native to East Asia*Sika Anoai, a professional wrestler*Sika, Burkina Faso...
denominations. These are probably best considered as "medallic" coinage, and may have no legal tender status. The word sika means "gold."
Currency sign
The Ghanaian cedi symbol is a letter CC
Ĉ or ĉ is a consonant in Esperanto orthography, representing the sound .Esperanto orthography uses a diacritic for all four of its postalveolar consonants, as do the Latin-based Slavic alphabets...
struck through with a vertical or slightly angled bar
Bar (diacritic)
A bar or stroke is a modification consisting of a line drawn through a grapheme. It may be used as a diacritic to derive new letters from old ones, or simply as an addition to make a grapheme more distinct from others....
. The symbol was accepted for encoding in Unicode
Unicode
Unicode is a computing industry standard for the consistent encoding, representation and handling of text expressed in most of the world's writing systems...
as U+20B5 in 2004. It should not be confused with the colón
Colón (currency)
The colón is the currency of two Central American nations:*Costa Rica ; see Costa Rican colón...
sign (Unicode: U+20A1; decimal: 8353) or the cent
Cent (currency)
In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word "centum" meaning hundred. Cent also refers to a coin which is worth one cent....
sign ¢ (Unicode: U+00A2; decimal: 162).
However, because some font
Font
In typography, a font is traditionally defined as a quantity of sorts composing a complete character set of a single size and style of a particular typeface...
s do not provide a cedi character, the cent sign is often used in its place, including all official Ghanaian documents.
Unlike the cent sign, however, the cedi always precedes the numerical value and in official use is always preceded by the letters GH.
First cedi, 1965–1967
The first cedi was introduced in 1965, replacing the poundGhanaian pound
The Ghanaian pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency...
at a rate of 2.4 cedi = 1 pound, or 1 pesewa = 1 penny. The first cedi was pegged to the British pound at a rate of 2.4 cedis = 1 pound.
Second cedi (GHC), 1967–2007
The first cedi was replaced in 1967 by a 'new cedi' which was worth 1.2 first cedis. This allowed a decimal conversion with the pound, namely 2 second cedis = 1 pound. The change also provided an opportunity to remove Kwame NkrumahKwame Nkrumah
Kwame Nkrumah was the leader of Ghana and its predecessor state, the Gold Coast, from 1952 to 1966. Overseeing the nation's independence from British colonial rule in 1957, Nkrumah was the first President of Ghana and the first Prime Minister of Ghana...
's image from coins and notes.
The second cedi was initially pegged to the British pound at a rate of 2 cedi = 1 pound. However, within months, the second cedi was devalued to a rate of 2.45 second cedi = 1 pound, less than the value of the first cedi. This rate was equivalent to 1 cedi = 0.98 US dollars and the rate to the dollar was maintained when the British pound was devalued in November 1967. Further pegs were set of $0.55 in 1971, $0.78 in 1972 and $0.8696 in 1973 before the currency was floated in 1978. High inflation ensued, and so the cedi was re-pegged at ₵2.80 = $1.00.
Inflation continued to eat away at the cedi's value on the black market. In the early eighties, the government started cracking down hard on the retail of products at prices other than the official established sale price (price controls). This had the effect of driving nearly all commerce underground, where black market prices for commodities were the norm, and nothing existed on store shelves. By 1983, the cedi was worth about 120 to one US dollar on the black market, a pack of cigarettes cost about ₵150 (if they could be found), but the bank rate continued at ₵2.80 = $1.00. Finally, with foreign currency completely drying up for all import transactions, the government was forced to begin a process of gradual devaluation, and a liberalization of its strict price controls. This process ended in 1990 with a free float of the cedi against foreign currencies. Inflation continued (see exchange rate chart) until by July 2007, the cedi was worth about 9500 to one US dollar, and a transition to the third cedi was initiated.
In 1979, a currency confiscation took place. New banknotes were issued which were exchanged for old at a rate of 10 old for 7 new. Coins and bank accounts were unaffected.
A second confiscation took place in 1982, when the ₵50 note (the highest denomination) was demonetized. Ghanaians, in theory, could exchange any number of ₵50 notes for coins or other banknotes without loss, but foreigners could not make any exchange. However, many Ghanaians who were hoarding large amounts of Cedis feared reprisal if they tried to convert all of it, and so simply burned a lot of their money. Many other Ghanaians received "promise payment notes" from the banks, but never received compensation. This confiscation was publicly justified as a means to create a disincentive for the flourishing black market. However, from a monetary perspective, currency confiscations have the effect of reducing the available cash in the economy, and thereby slowing the rate of inflation. After the ₵50 note confiscation, the ₵20 note was the highest cedi denomination, but had a street value of only about $0.35 (US).
After the ₵50 note confiscation, fears existed that the Government could also confiscate the ₵20 or even the ₵10 notes. This fear, along with inflation running at about 100% annually, started causing Ghanaian society to lose its faith in its own currency. Some transactions could only then be done in foreign currencies (although that was technically illegal), and other more routine transactions began to revert to a barter economy.
Third cedi (GHS), 2007–
On July 1, 2007, a third cedi was introduced, worth 10,000 second cedis.The external purchasing power of the old and new currencies are the same; the cedi was neither devalued nor re-valued, only redenominated. Because of this change, Ghana's currency became one of the highest-valued currency units from one of the least valued currency unit
Least valued currency unit
The least valued currency unit is the currency in which a single unit buys the least number of any given other currency or the smallest amount of a given good. Most commonly, the calculation is made against a major reserve currency such as the United States dollar or the euro...
s.
A new ISO currency code GHS was also introduced on this date. In addition, the central bank named the third cedi the Ghana Cedi and assigned the symbol GH₵ to distinguish it from the second cedi, currently known as the cedi with the symbol ₵. The Ghana cedi will, from January 2008, be simply known as the cedi.
First cedi
First cedi coins were issued in denominations of 5, 10, 25 and 50 pesewas. Smaller denominations were not needed as the ½ and 1 penny continued to circulate as ½ and 1 pesewa. All coins bore the portrait of Kwame NkrumahKwame Nkrumah
Kwame Nkrumah was the leader of Ghana and its predecessor state, the Gold Coast, from 1952 to 1966. Overseeing the nation's independence from British colonial rule in 1957, Nkrumah was the first President of Ghana and the first Prime Minister of Ghana...
.
Second cedi
In 1967, coins for the second cedi were introduced in denominations of ½, 1, 2½, 5, 10 and 20 pesewas. In 1979, coins for 50 pesewas and 1 cedi were introduced. These were replaced in 1984 by smaller types alongside a new 5 cedi coin. All these early issues have since fallen out of circulation due to inflation.
In 1991, 10, 20, 50 and 100 cedi coins were introduced, followed by 200 and 500 cedis in 1996. These six denominations are still in circulation. However, the 10 cedis (~0.1 US cents) and 20 cedis (~0.2 US cents) coins were not seen much due to their small value.
Third cedi
The new coins are 1 pesewa (100 old cedi), 5 pesewas (500), 10 pesewas (1000), 20 pesewas (2000), 50 pesewas (5000) and 1 cedi (10,000).First cedi
In 1965, banknotes were issued in the first cedi in values of ₵1, ₵5, ₵10, ₵50, ₵100, and ₵1000.| First cedi http://www.bog.gov.gh | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Description | 1 cedi | Kwame Nkrumah Kwame Nkrumah Kwame Nkrumah was the leader of Ghana and its predecessor state, the Gold Coast, from 1952 to 1966. Overseeing the nation's independence from British colonial rule in 1957, Nkrumah was the first President of Ghana and the first Prime Minister of Ghana... |
Bank of Ghana Bank of Ghana The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:... |
1965 | ||
| 5 cedis | Supreme Court | |||||||
| 10 cedis | Independence Arch | |||||||
| 50 cedis | Beach | |||||||
| 100 cedis | Kumasi Central Hospital Komfo Anokye Teaching Hospital The Komfo Anokye Teaching Hospital in Kumasi, Ghana, is the second-largest hospital in the country and the only tertiary health institution in the Ashanti Region. It is the main referral hospital for the Ashanti, Brong Ahafo, Northern, Upper East and Upper West Regions.The hospital was built in... |
|||||||
| 1000 cedis | Bank of Ghana Bank of Ghana The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:... |
|||||||
Second cedi
The first issue of banknotes, dated 1967, was in denominations of ₵1, ₵5 and ₵10. A second series, introduced in 1972 and 1973, consisted of ₵1, ₵2, ₵5 and ₵10 notes. The 1979 series, for which old notes were exchanged at a reduced rate (see above) consisted of ₵1, ₵2, ₵5, ₵10, ₵20 and ₵50 banknotes.In 1983, a new banknote series was introduced in denominations of ₵10, ₵20, ₵50, ₵100 and ₵200 cedis. Higher denomination banknotes were later introduced: ₵500 (1986), ₵1000 (1991), ₵2000 (1995), ₵5000 (1996), ₵10,000 and ₵20,000 (2002). In 2005, banknotes in circulation were ₵1000, ₵2000, ₵5000, ₵10,000 and ₵20,000.
First Series
| Second cedi - First series http://www.bog.gov.gh | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Description | 5 cedis | Fauna carvings | Fauna carvings | 1969 | ||
| 10 cedis | Art projects | Statuettes | ||||||
Second Series
| Second cedi - 1970s series http://www.bog.gov.gh | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Description | 1 cedi | School girl with headphones | Cocoa farmer | 1975 | ||
| 2 cedis | Farmer | Fishermen | 1977 | |||||
| 5 cedis | Market woman | Larabanga mosque | ||||||
| 10 cedis | Pipe smoker | Akosombo dam | 1978 | |||||
Third Series
| Second cedi - 1980s series http://www.bog.gov.gh | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Description | 2 cedis | School girl | Field workers | 1982 | ||
| 5 cedis | Northerner | Lumberers | ||||||
| 10 cedis | Young woman | Fishermen | 1980 | |||||
| 20 cedis | Miner | Kente weaver | 1982 | |||||
| 50 cedis | Elderly man | Cocoa farmers | 1980 | |||||
| 50 cedis | Young boy | Workers drying grain | 1986 | |||||
Fourth Series
| Second cedi - Final series http://www.bog.gov.gh | ||||||||
|---|---|---|---|---|---|---|---|---|
| Image | Value | Description | 100 cedis | Young woman | Truck loaders | 1990 | ||
| 200 cedis | Old man | Teacher and students | 1992 | |||||
| 500 cedis | Black star, fist, and "Gye Nyame" | Cocoa tree and farmers | 1994 | |||||
| 1000 cedis | Diamonds | Cocoa farmers | 1996 | |||||
| [no image available] | 2000 cedis | Coat of arms, bridge | Boat loaders | 1995 | ||||
| 5000 cedis | Coat of arms | Map, harbor, and ships | 1998 | |||||
| 10000 cedis | Big six | Independence arch | 2002 | |||||
| 20000 cedis | Ephraim Amu | National theater | ||||||
Third cedi
The new currency is denominated in Ghana cedi (GH₵), a unit equal to 10,000 old cedi, and Ghana pesewa (Gp), equal to one-hundredth of a Ghana cedi or 10,000 old pesewa (100 old cedi). Banknotes are issued in GH₵1, GH₵5, GH₵10, GH₵20, and GH₵50 denominations. Old currency were withdrawn beginning in July 2007, and after a six month transition may only be exchanged at banks and will no longer be legal tenderLegal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
. The Bank of Ghana has launched a website on this re-denomination campaign. A new GH₵2 Cedi banknote was issued on May 14, 2010 to meet public need for an intermediary denomination and reduce the frequency, and associated cost, of printing large volumes of the GH₵1 banknote. The introduction of the new denomination coincides with the conclusion of the year-long centenary celebrations of the birth of Dr. Kwame Nkrumah, Ghana’s first president, and has the commemorative text “CENTENARY OF THE BIRTH OF DR. KWAME NKRUMAH”.
| Third cedi http://www.ghanacedi.gov.gh | ||||||
|---|---|---|---|---|---|---|
| Image | Value | Dimensions | Main Colour | Description | Date of issue | |
| Obverse | Reverse | |||||
| 1 cedi | 137 × 65 mm | Red | The Big Six The Big Six (Ghana) The Big Six were six leaders of the United Gold Coast Convention , the leading political party in the British colony of the Gold Coast. They were detained by the colonial authorities in 1948 following disturbances leading to the killing of three World War II veterans... , Independence Arch Independence Arch (Accra) The Independence Square of Accra, Ghana, inscribed with the words "Freedom and Justice, AD 1957", commemorates the independence of Ghana, a first for Sub Saharan Africa... |
Akosombo Dam Akosombo Dam The Akosombo Dam , is a hydroelectric dam on the Volta River in southeastern Ghana in the Akosombo gorge and part of the Volta River Authority. The construction of the dam flooded part of the Volta River Basin, and the subsequent creation of Lake Volta... |
July 3, 2007 | |
| 2 cedis | 140 × 67 mm | Beige Beige Beige may be described as an off tan color or an extremely pale brown color.The term originates from beige cloth, a cotton fabric left undyed in its natural color... |
Kwame Nkrumah Kwame Nkrumah Kwame Nkrumah was the leader of Ghana and its predecessor state, the Gold Coast, from 1952 to 1966. Overseeing the nation's independence from British colonial rule in 1957, Nkrumah was the first President of Ghana and the first Prime Minister of Ghana... |
Parliament House Parliament of Ghana The Parliament of Ghana is the legislative body of the Ghanaian government.-History:Legislative representation in Ghana dates back to 1850, when the country was a British colony. The body, called the Legislative Council, was purely advisory as the Governor exercised all legislative and executive... |
May 14, 2010 | |
| 5 cedis | 141 × 68 mm | Blue | The Big Six The Big Six (Ghana) The Big Six were six leaders of the United Gold Coast Convention , the leading political party in the British colony of the Gold Coast. They were detained by the colonial authorities in 1948 following disturbances leading to the killing of three World War II veterans... , Independence Arch Independence Arch (Accra) The Independence Square of Accra, Ghana, inscribed with the words "Freedom and Justice, AD 1957", commemorates the independence of Ghana, a first for Sub Saharan Africa... |
Balme Library: University of Ghana University of Ghana The University of Ghana is the oldest and largest of the thirteen Ghanaian universities and tertiary institutions. It is one of the best universities in Africa and by far the most prestigious in West Africa... |
July 3, 2007 | |
| 10 cedis | 145 × 71 mm | Yellow-green | Bank of Ghana Bank of Ghana The Bank of Ghana is the central bank of Ghana. It is located in Accra and was formed in 1957. Its name is abbreviated to BOG.-Brief Historical Background:... |
|||
| 20 cedis | 149 × 74 mm | Purple | Supreme Court Supreme Court of Ghana The Supreme Court of Ghana is the highest judicial body in Ghana. Ghana's 1992 constitution guarantees the independence and separation of the Judiciary from the Legislative and the Executive arms of government.-History:... |
|||
| 50 cedis | 153 × 77 mm | Brown | Christianborg Castle | |||
Exchange rate history
This table shows the historical value of one U.S. dollar in Ghanaian cedis:| Date | Cedi per US $ | Date | Cedi per US $ |
|---|---|---|---|
| First cedi | |||
| 1965 | 0.824 | 1967 | 0.714 |
| Second cedi | |||
| 1970s | ~1.000 (0.833 to 1.111) | 1980 | 2.80 Bank rate (~20 Blackmarket) |
| 1983 | 30.00 Bank rate (~120 Blackmarket) (Oct 83) | 1984 | 35.00 (Mar 84); 38.50 (Aug 84); 50 (Dec 84) |
| 1985 | 50 – 60 | 1986 | 90 |
| 1987 | 150 – 175 | 1988 | 175 – 230 |
| 1989 | 230 – 300 | 1990 | 300 – 345 |
| 1991 | 345 – 390 | 1992 | 390 – 520 |
| 1993 | 555 – 825 | 1994 | 825 – 1050 |
| 1995 | 1050 – 1450 | 1996 | 1450 – 1750 |
| 1997 | 1750 – 2250 | 1998 | 2250 – 2350 |
| 1999 | 2350 – 3550 | 2000 | 3550 – 6750 |
| 2001 | 6750 – 7300 | 2002 | 7300 – 8450 |
| 2003 | 8450 – 8850 | 2004 | 8850 – 8900 |
| 2005 | 8900 – 9500 | 2006 | 9500 – 9600 |
| 2007 | 9600 – 9300 | ||
| Third cedi | |||
| 2007 | 0.92 (July 2007) | 2008 | 1.05 (June 2008) |
| 2009 | 1.49 (June 2009) | 2010 | 1.45 (December 2010) |
http://www.ghanaweb.com/GhanaHomePage/economy/forex.php
See also
- Highest-valued currency unit
- Economy of GhanaEconomy of GhanaThe economy of Ghana, West Africa, has a diverse and rich resource base, and as such, has one of the highest GDP per capita in Africa. Ghana remains somewhat dependent on international financial and technical assistance as well as the activities of the extensive Ghanaian diaspora. Gold, timber,...
- Previous Ghana currencies:
- British West African pound
- Ghanaian poundGhanaian poundThe Ghanaian pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency...
External links
- Information on the Cedi, Bank of Ghana
- Information on the new cedi issue