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After 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 pound was the currency of Ghana between 1958 and 1965. It was subdivided into 20 shillings, each of 12 pence. Until 1958, Ghana used the British West African pound, after which it issued its own currency. In 1965, Ghana introduced the first cedi at a rate of £1 = ₵2.40, i.e., ₵1 = 100d.
New unit = × Old unit year Nature of the new unit Turkish new lira = 1 million old lira: 2005 "new" is an official designation and was dropped in 2009. New Taiwan dollar = 40 000 old dollars: 1949 "new" is an official designation and is still used in official documents today. Argentine austral = 1 000 Peso argentino: 1985 completely new name ...
(Bloomberg) -- Africa’s second-most aggressive monetary authority after Zimbabwe is set to show Ghana’s resolve once again by raising interest rates at its final meeting of the year to boost ...
Ghana embarked on a currency re-denomination exercise from the Cedi (₵) to the new currency, Ghana Cedi (GH₵) in July 2007. The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [ 29 ]
Ghana's gross international reserves stood at $6.6 billion as of end-September — just enough to cover about three months' worth of imports.
Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar).
The proposed new legislation - The Proper Human Sexual Rights and Ghanaian Family Values bill - was backed by both of Ghana's main political parties. But Mr Sky said there were not enough MPs in ...