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Foreign exchange

There is no change in value. The value is the same. How much are they worth in our new currency.

There is no change in value. The value is the same.

There is no change in value. The value is the same.

This was heard almost on all media outlets in Ghana somewhere in 2007 when the Bank of Ghana decided to change the currency of the country.

This would mean four Zeros would be slashed off the existing currency figures.

This would also mean an amount of 10,000.00 cedis would now be quoted as Ghc 1.00 and so on and an amount of 1,000 cedis will now be Ghc0.10 or 10 pesewas.

This also meant the change of name to Ghana Cedis instead of Cedi.

All old currencies notes and coins were retired and new Ghc 1, 5, 10, 20 and 50 notes were introduced with Ghc 2, 100 and 200 notes later being introduced.

Also 1 pesewa, 10,20, 50 pesewas coin were also introduced into the system.

The Ghc 1.00 also had it coin version.

A Ghc 2.00 coin was later introduced.

Despite all these changes, the currency conversion came with its own challenges it's still a challenge even for children who are born after the introduction of the new currency.

As it is still a challenge we have one for you in the picture below. We would like you to try and estimate how much these notes will be worth in the new currency and how much they were worth in the old currency.

When you are done kindly put your answer in the comments section below thank you.

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Bank of Ghana Cedi Ghana


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