Ghana Cedi (GHS) Profile
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Ghana cedi users
The Ghana cedi is the currency of Ghana (officially the Republic of Ghana) which is a country in West Africa.
Ghana declared independence from the United Kingdom on March 6, 1957 and became the first African country gained independence from colonialism.
Ghana cedi history
Currently circulating cedi is the third introduction which replaced the second cedi because of inflation. The first Ghana cedi was introduced in 1965 and replaced the Ghanaian pound.
|Currency name||Used in Ghana||Notes|
|Ghanaian cedi (third)||July 3, 2007-present||Currently in circulation cedi is the third cedi (currency code: GHS) and was introduced in 2007 because of inflation. It replaced the 2nd cedi at a rate of 1 GHS = 10,000 GHC.|
|Ghanaian cedi (second)||Feb.23, 1967 - July 2, 2007||The 2nd Ghanaian cedi (currency code: GHC) was introduced in 1967 and replaced the first cedi at a rate of 1 second cedi = 1.2 first cedi because of decimal conversion.|
|Ghanaian cedi (first)||July 19, 1965-Feb.22, 1967||1. The first cedi was introduced in 1965 and replaced the Ghanaian pound at 2.4 first cedi= 1 pound or 1 pesewa = 1 penny.
2. The first cedi was pegged to the British pound at a rate of 2.4 cedi = 1 British pound.
|Ghanaian pound||1958-1965||Ghanaian pound was introduced in 1958 and replaced the British West African pound. It was subdivided into 20 shillings, each of 12 pence.|
|British West African pound||1896-1958||The British West African pound was equal to the Pound sterling and subdivided into 20 shillings, each of 12 pence.|
Ghana cedi coins and banknotes
The Ghana cedi is subdivided into 100 Ghana pesewa.
Currently in circulation coins are in denominations of 1, 5, 10, 20, 50 Ghana pesewa and 1 cedi, and banknotes are in denominations of 1, 2, 5, 10, 20, 50 cedi.