The cedi is the unit of currency of Ghana. One cedi is divided into one hundred pesewas. The present cedi was introduced on July 1, 2007, and was equal to 10,000 old cedi. It is presently Africa's highest valued currency unit. The Bank of Ghana is the central bank of Ghana. ... is the 182nd day of the year (183rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... A world map showing the continent of Africa Africa is the worlds second-largest and second most-populous continent, after Asia. ... The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good. ...

The word "cedi" is derived from the Akan word for cowry shell. Cowry shells were once used in Ghana as a form of currency. Twi language edition of Wikipedia, the free encyclopedia Akan language(s) edition of Wikipedia, the free encyclopedia UN Secretary General Kofi Annan, the most famous Akan speaker. ... Species Cypraea annulus Cypraea moneta Cypraea pantherina Cypraea spurca Cypraea tigris Cypraea vitellus Cyprea linx Various species of Cowry from all over the world Cowry shells (also spelled “cowrie”), are marine snails of the genus Cypraea (family Cypraeidae), found chiefly in tropical regions, especially around the Maldives or the East...

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 "money". Binomial name Cervus nippon Temminck,, 1838 Subspecies The Sika Deer Cervus nippon is a typical member of the family Cervidae. ...

Currency sign

The cedi symbol resembles the cent sign (¢), but it is taller, narrower, and its bar is vertical, not diagonal. The symbol ₵ was accepted for encoding in Unicode as U+20B5 in 2004. However, because many fonts do not provide this character, the cent sign is often used as a replacement for the cedi. Unicode is an industry standard designed to allow text and symbols from all of the writing systems of the world to be consistently represented and manipulated by computers. ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...

The cedi sign is not to be confused with the colón sign ₡, which has a code point U+20A1 in Unicode (or 8353 in decimal); or the cent sign ¢, which has a code point U+00A2 in Unicode (or 162 in decimal). The colón is the currency of two Central American nations: Costa Rica (ISO 4217 three-letter currency code: CRC) see Costa Rican colón El Salvador (ISO 4217: SVC) – since 2001 used in parallel with the United States dollar; see dollarization, El Salvador colón. ... Unicode is an industry standard designed to allow text and symbols from all of the writing systems of the world to be consistently represented and manipulated by computers. ... A two-cent euro coin A United States penny, or 1¢ In currency, the cent is a monetary unit that equals 1/100 of the basic unit of value. ... Unicode is an industry standard designed to allow text and symbols from all of the writing systems of the world to be consistently represented and manipulated by computers. ...

History

For earlier Ghanaian currency, see Gold Coast ackey. The ackey was a currency issued for the Gold Coast by the British between 1796 and 1818. ...

First Cedi, 1965-1967

The Cedi was first introduced in 1965, replacing the pound at a rate of 2.4 cedi = 1 pound, or 1 pesewa = 1 penny. The cedi was pegged to the British pound at a rate of 2.4 cedis = 1 pound. The pound was the currency of Ghana between 1907 and 1965. ... For details of notes and coins, see British coinage and British banknotes. ...

Second Cedi, 1967-2007

The first cedi was replaced in 1967 by a 'new cedi' which was worth 1.2 old cedis. This allowed a decimal conversion with the pound, namely one pound = 2 new cedis. The change also provided an opportunity to remove Kwame Nkrumah's image from coins and notes. 1967 (MCMLXVII) was a common year starting on Sunday of the Gregorian calendar (the link is to a full 1967 calendar). ... This article or section does not cite any references or sources. ...

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 floated in 1978. High inflation ensued. The United States dollar is the official currency of the United States. ...

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 cedi note (the highest denomination) was demonetized. Ghanaians could exchange any number of 50 cedi notes for coins or other banknotes without loss but foreigners could not make any exchange. This was intended to disincetivise the flourishing black market.

Third Cedi, 2007-

On July 3, 2007, a third cedi was introduced, worth 10,000 second cedis. ^[1] The external purchasing power of the old and new currencies are the same; the cedi was neither devalued nor re-valued, only redenominated. is the 184th day of the year (185th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...

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. ^[2]

Coins

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 Nkrumah. This article or section does not cite any references or sources. ...

Second cedi

Pesewa coins

Cedi coins

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. Image File history File linksMetadata No higher resolution available. ... Image File history File linksMetadata No higher resolution available. ... Image File history File linksMetadata Size of this preview: 359 × 600 pixelsFull resolution (595 × 994 pixel, file size: 191 KB, MIME type: image/jpeg) selfmade scan of own coins File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File linksMetadata Size of this preview: 359 × 600 pixelsFull resolution (595 × 994 pixel, file size: 191 KB, MIME type: image/jpeg) selfmade scan of own coins File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...

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 are not seen much due to their small value. The United States dollar is the official currency of the United States. ...

Third cedi

The new coins are 1 pesewa (100 old cedi), 5 pesewa (500), 10 pesewa (1000), 20 pesewa (2000), 50 pesewa (5000) and 1 cedi (10,000).

Banknotes

All Ghanaian banknotes are issued by the Bank of Ghana.

First cedi

In 1965, banknotes were issued denominated in the first cedi in values of 1, 5, 10, 50, 100 and 1000 cedis. All except the 1000 cedis bore a portrait of Kwame Nkrumah. This article or section does not cite any references or sources. ...

Second cedi

The first issue of banknotes, dated 1967, was in denominations of 1, 5 and 10 cedis. A second series, introduced in 1972 and 1973, consisted of 1, 2, 5 and 10 cedi 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 cedi 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 cedis (1986), 1000 cedis (1991), 2000 cedis (1995), 5000 cedis (1996), 10,000 and 20,000 cedis (2002). In 2005, banknotes in circulation were 1000, 2000, 5000, 10,000 and 20,000 cedis.

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 1/100 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 will be withdrawn beginning in July 2007, and after a six month transition may only be exchanged at banks and will no longer be legal tender. The Bank of Ghana has launched a website on this re-denomination campaign. Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ...

Third cedi [1]
Image	Value	Dimensions	Main Colour	Description		Date of issue
				Obverse	Reverse
	1 cedi	137 × 65 mm	Red	The Big Six, Independence Arch	Akosombo Dam	July, 2007
	5 cedi	141 × 68 mm	Blue		Balme Library: University of Ghana
	10 cedi	145 × 71 mm	Yellow-green		Bank of Ghana
	20 cedi	149 × 74 mm	Purple		Supreme Court
	50 cedi	153 × 77 mm	Brown		Christianborg Castle
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.

Image File history File links No higher resolution available. ... The Big Six were six leaders of the United Gold Coast Convention (UGCC), the leading political party in the British colony of the Gold Coast. ... Ghanas Independence Arch, inscribed with the words Freedom and Justice, AD 1957, commemorates the independence of Ghana, a first for Africa. ... The Akosombo Dam is a hydroelectric dam in southeastern Ghana. ... Image File history File links No higher resolution available. ... The University of Ghana is the oldest and largest of the five Ghanaian public universities. ... Image File history File links No higher resolution available. ... The Bank of Ghana is the central bank of Ghana. ... Image File history File links No higher resolution available. ... The Supreme Court of Ghana is the highest judicial body in Ghana. ... Image File history File links No higher resolution available. ...

Exchange rate history

This table shows the historical value of one U.S. Dollar in Ghanaian cedis:

Second Cedi

1965 (MCMLXV) was a common year starting on Friday (the link is to a full 1965 calendar). ... 1967 (MCMLXVII) was a common year starting on Sunday of the Gregorian calendar (the link is to a full 1967 calendar). ... The 1970s decade refers to the years from 1970 to 1979. ... Year 1980 (MCMLXXX) was a leap year starting on Tuesday (link displays the 1980 Gregorian calendar). ... Year 1983 (MCMLXXXIII) was a common year starting on Saturday (link displays the 1983 Gregorian calendar). ... Year 1984 (MCMLXXXIV) was a leap year starting on Sunday (link displays the 1984 Gregorian calendar). ... Year 1985 (MCMLXXXV) was a common year starting on Tuesday (link displays 1985 Gregorian calendar). ... Year 1986 (MCMLXXXVI) was a common year starting on Wednesday (link displays 1986 Gregorian calendar). ... Year 1987 (MCMLXXXVII) was a common year starting on Thursday (link displays 1987 Gregorian calendar). ... Year 1988 (MCMLXXXVIII) was a leap year starting on Friday (link displays 1988 Gregorian calendar). ... Year 1989 (MCMLXXXIX) was a common year starting on Sunday (link displays 1989 Gregorian calendar). ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ... Year 1994 (MCMXCIV) was a common year starting on Saturday (link will display full 1994 Gregorian calendar). ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ... Year 1997 (MCMXCVII) was a common year starting on Wednesday (link will display full 1997 Gregorian calendar). ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... 2000 (MM) was a leap year starting on Saturday of the Gregorian calendar. ... Year 2001 (MMI) was a common year starting on Monday of the Gregorian calendar. ... For album titles with the same name, see 2002 (album). ... 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...

Third Cedi

Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...

See also

• Highest valued currency unit
• Economy of Ghana
• Previous Ghana currencies:
  • British West African pound
  • Ghanaian pound

The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good. ... Palm oil is a food crop and export of Ghana By West African standards, Ghana has a diverse and rich resource base. ... The pound was the currency of British West Africa, a group of British colonies, protectorates and mandate territories. ... The pound was the currency of Ghana between 1907 and 1965. ...

References

Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... is the 170th day of the year (171st in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... July 11 is the 192nd day (193rd in leap years) of the year in the Gregorian calendar, with 173 days remaining. ...

External links

Wikinews has news related to:

New Ghanaian currency introduced

• Don's World Coin Gallery - Ghana
• Ron Wise's World Paper Money - Ghana ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Ghana ^{Mirror site}
• The Global History of Currencies - Ghana
• Global Financial Data data series - Ghana Cedi
• Global Financial Data currency histories table ( Microsoft Excel format)
• Information on the Cedi, Bank of Ghana
• Information on the new cedi issue