Menu
Countryaah.com
  • Europe
    • Countries in the EU
    • Countries in South Europe
    • Countries in North Europe
    • Countries in West Europe
    • Countries in East Europe
    • Capital Cities in Europe
    • Europe Population
    • Largest Countries by Area
    • Largest Countries by Population
  • America
    • Caribbean
    • North America
      • United States
      • Capital Cities in North America
      • North America Population
    • Central America
    • South America
      • Capital Cities in South America
      • South America Population
    • Latin America
  • Asia
    • Countries in Middle East
    • Countries in East Asia
    • Countries in South Asia
    • Countries in Southeastern Asia
    • Countries in West Asia
    • Countries in Central Asia
    • Capital Cities in Asia
    • Asia Population
    • Largest Countries by Area
    • Largest Countries by Population
  • Africa
    • Countries in Southern Africa
    • Countries in Central Africa
    • Countries in North Africa
    • Countries in East Africa
    • Countries in West Africa
    • Capital Cities in Africa
    • Africa Population
    • Largest Countries by Area
    • Largest Countries by Population
  • Oceania
    • Countries in Melanesia
    • Countries in Micronesia
    • Countries in Polynesia
    • Capital Cities in Oceania
    • Oceania Population
  • United States
    • Alabama Cities
    • Alaska Cities
    • Arizona Cities
    • Arkansas Cities
    • California Cities
    • Colorado Cities
    • Connecticut Cities
    • Delaware Cities
    • Florida Cities
    • Georgia Cities
    • Hawaii Cities
    • Idaho Cities
    • Illinois Cities
    • Indiana Cities
    • Iowa Cities
    • Kansas Cities
    • Kentucky Cities
    • Louisiana Cities
    • Maine Cities
    • Maryland Cities
    • Massachusetts Cities
    • Michigan Cities
    • Minnesota Cities
    • Mississippi Cities
    • Missouri Cities
    • Montana Cities
    • Nebraska Cities
    • Nevada Cities
    • New Hampshire Cities
    • New Jersey Cities
    • New Mexico Cities
    • New York Cities
    • North Carolina Cities
    • North Dakota Cities
    • Ohio Cities
    • Oklahoma Cities
    • Oregon Cities
    • Pennsylvania Cities
    • Rhode Island Cities
    • South Carolina Cities
    • South Dakota Cities
    • Tennessee Cities
    • Texas Cities
    • Utah Cities
    • Vermont Cities
    • Virginia Cities
    • Washington Cities
    • West Virginia Cities
    • Wisconsin Cities
    • Wyoming Cities
Countryaah.com

Currency in Ghana

The currency in Ghana is called Cedi and is divided into Pesewas. A cedi is worth exactly 100 pesewas, similar to the euro and the cent. According to the ISO standard, the currency is abbreviated as GHS and a crossed-out C is used as the usual currency symbol.

The name of the currency dates back to the Middle Ages. At the time, cowrie shells were being traded in Ghana and many other parts of Africa. The name of the currency came from the African word “sedi”, which means kauri.

History of the currency of Ghana

The Cedi was introduced as the official currency in Ghana in 1965. After a coup in the country, the second cedi was finally introduced. The introduction was aimed at the desire of the people to remove the old president from the coins and banknotes.

In 2007 a new, third cedi was introduced. The reason was the extremely high inflation of the currency, which is why the Cedi was devalued by a factor of 10,000 this year.

With the introduction, the government had hoped for a positive effect on the microeconomy, which unfortunately has not occurred to this day. The bid price of the new third cedi has decreased by roughly a factor of two over the past few years.

Hints

Anyone traveling to Ghana in Africa should think about the country’s currency before entering the country. It is often difficult to find your way around a new currency abroad at the beginning.

Unfortunately, tricksters often take advantage of this by giving too little change and taking advantage of the ignorance of the newcomers. So that this doesn’t happen to you, you should take a closer look at Ghana’s currency.

The exchange rate

Currently, the value of the cedi currency is around 22 cents. This means that one euro is equivalent to 4.58 cedi. For the approximate conversion in Ghana you can divide the price in cedi by either four or five. Divide by four, the price is a little too high. If you divide by five, the actual price is slightly higher than the calculated price.

Read more:

  • Ghana Facts
  • Where is Ghana Located?
  • Ghana Population
  • Ghana Airports
  • Ghana Holidays
  • Embassies of Ghana
  • What is the Capital of Ghana? Accra
  • Ghana Major Imports
  • Ghana Import Restrictions
  • Ghana Flag and Meaning
  • Ghana Major Exports
  • List of Foreign Embassies in Ghana
  • Ghana Major Trade Partners

©2022 Countryaah.com