Ghanaian Cedi

Ghanaian Cedi

Ghanaian Cedi overview

The Ghanaian cedi (currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One cedi is divided into one hundred pesewas (Gp). After it gained independence Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound (1958-1965). In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi (1965-1967) was introduced in place of the old British pound system. Ghana's first President Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The cedi was equivalent to eight shillings and four pence (8s 4d) and bore the portrait of the President. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. The "new cedi" (1967-2007) was worth 1.2 cedis which made it equal to half of a pound sterling at its introduction. After decades of high inflation devalued the new cedi, it was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. In 2007 the largest of the new cedi banknotes, the 20,000 note, had a value of about US$2. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. It has since lost about 75% of its value.

1 GHS to USD exchange rates chart

GHS to  exchange rates chart

Ghanaian Cedi news

'We don’t care about 2019 budget' – Spare parts dealers

Ahead of a 2019 budget presentation that promises hope, spare parts dealers at Abbosey Okai in Accra, say they have run out of it.

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National Cathedral Priority Among Priorities — Prez Akufo-Addo

National Cathedral Priority Among Priorities — Prez Akufo-Addo

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NLC, help Nigeria with the right strike
NLC, help Nigeria with the right strike

Rasheed Olokode Since time immemorial, the Nigeria Labour Congress has mastered and tactfully deployed strike to get government, at various levels...

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‘Nana Will Shame Detractors’ - Edmund Kyei
‘Nana Will Shame Detractors’ - Edmund Kyei

‘Nana Will Shame Detractors’ - Edmund Kyei

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Fuel prices to go down by almost 4% from November 1

Yen.com.gh News ☛ The pricing was in line with predictions by the Institute of Energy Securities (IES) over the weekend that fuel prices would be increased by 4 percent to a litre based on its research on October 15 pricing window. YEN.com.gh news.

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Bususiness Ghana - News General

Mahogany Consult partners Sinel Hospital.

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Photos: A review of Stonebwoy’s mammoth Ashaiman To The World concert
Photos: A review of Stonebwoy’s mammoth Ashaiman To The World concert

For five years consistently, I made it a point to be present and counted at every edition of Stonebwoy's flagship concert, Ashaiman To The World and I must say, it gets better every year.

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GHS currency converter