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Cedis

Cedis is the plural form of the cedi, the official currency of Ghana. The currency is issued by the Bank of Ghana and is subdivided into 100 pesewa. The symbol is ₵ and the ISO 4217 code is GHS.

The name cedi is believed to derive from the Akan word related to traditional forms of money

The cedi was introduced in 1965 to replace the Ghanaian pound at a rate of 1 pound

In 2007, Ghana redenominated the currency, removing two zeros: 100 old cedis (GHC) became 1 new cedi

Today, the cedi remains the primary unit of account and medium of exchange in Ghana. It is

used
in
West
Africa,
such
as
cowry
shells.
This
historical
link
is
often
cited
to
explain
the
origin
of
the
term.
to
2.4
cedis.
It
has
experienced
periods
of
inflation
and
monetary
adjustment,
reflecting
broader
economic
changes
in
Ghana
over
several
decades.
(GHS).
Since
then,
the
Bank
of
Ghana
has
issued
banknotes
and
coins
in
a
range
of
denominations
to
facilitate
daily
transactions,
with
the
pesewa
as
the
subunit.
used
for
domestic
pricing,
salaries,
and
government
budgeting,
and
it
functions
as
a
key
component
of
Ghana’s
monetary
policy
administered
by
the
Bank
of
Ghana.