GHSGhanaian CediGhanaian Cedi (GHS)
The Ghanaian cedi is Ghana's national currency and a major West African unit for domestic trade, services, commodities and public finance.
- ISO code
- GHS
- Symbol
- GH₵
- Region
- Africa
- Currency type
- Fiat currency
- Exchange system
- GHS operates under a flexible foreign-exchange framework managed by the Bank of Ghana. Market rates can move, and central-bank operations do not constitute a permanent fixed foreign-currency parity.
- Last reviewed
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Quick facts
GHS at a glance
Currency profile
How GHS works
The Ghanaian cedi is Ghana's national currency and a major West African unit for domestic trade, services, commodities and public finance.
The Bank of Ghana issues cedi banknotes and coins and manages monetary and foreign-exchange policy within Ghana's national framework.
- GHS is divided into 100 pesewas and identifies the redenominated cedi introduced in 2007.
- The current cedi replaced the previous scale at one GHS for 10,000 old cedis, making dates crucial for historical amounts.
Context
Why this currency matters
GHS is significant both as Ghana's current payment unit and as the result of repeated post-independence monetary reforms. Its redenomination simplified accounting without erasing older records, while Ghana's commodity and regional trade links make the cedi an important West African reference currency.
Monetary framework
Exchange arrangement
GHS operates under a flexible foreign-exchange framework managed by the Bank of Ghana. Market rates can move, and central-bank operations do not constitute a permanent fixed foreign-currency parity.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for GHS
First cedi introduced
Ghana replaced the Ghanaian pound with the cedi as part of a decimal national currency system.
Bank of Ghana - currency historyNew cedi replaced the first cedi
A monetary reform changed the cedi scale and introduced a revised national currency.
Bank of Ghana - currency historyGHS redenomination completed
The current Ghana cedi replaced 10,000 old cedis with one new cedi.
Bank of Ghana - currency history
Usage and economy
How GHS is used
- Prices, payroll, taxes and payments throughout Ghana.
- West African trade comparisons involving NGN, XOF and XAF.
Country currency guides
Banknotes and coins
GHS currency units
The Bank of Ghana publishes current cedi banknotes and the history of the currency series.
The Bank of Ghana documents cedi and pesewa circulation coins.
One Ghanaian Cedi unit is recorded with 2 decimal places and uses Pesewa as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
GHS questions
Why was GHS introduced in 2007?
Ghana redenominated the cedi to simplify prices and accounting, converting 10,000 old cedis into one current Ghana cedi.
Why is GHS important in West Africa?
GHS supports Ghana's regional trade and its internationally connected cocoa, gold, energy and service industries.
Are historical Ghana cedi amounts directly comparable with GHS?
Not without the date and currency scale, because Ghana changed the cedi unit in 1967 and again through the 2007 redenomination.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.