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Ghana: Ghana Cedi
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SPECIAL CIRCUMSTANCES: Effective July 1, 2007, the Government of Ghana redenominated the local currency, the cedi, introducing new banknotes ( Ghana cedi) and coins ( Ghana pesewa). 10,000 cedis = 1 Ghana cedi = 100 Ghana pesewas. Both currencies will be in circulation through December 31, 2007, after which date the cedi can be converted only at commercial banks or the Bank of Ghana. Travelers should be alert to persons who may try to defraud them with the old and new bills. The Government of Ghana has established a website,
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At exactly 11:59:59 pm, on Sunday, December 31, 2007, the old Ghana cedi ceased to be legal tender. However, about a week before the December 31 deadline, some people refused to acknowledge the old Ghana cedi as legal tender.
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Ghana Cedi was redenominated July 2007. The new "Ghana Cedi" (GH₵) equals 10,000 old cedis. During the transition period of six months, the old cedi is known as "cedi", and the new cedi is known as "Ghana Cedi".
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The country has since July, 2007, embarked on a currency re-denomination exercise, from Cedi (¢) to the new currency, the Ghana Cedi (GH¢). The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. The Bank of Ghana has embarked upon an aggressive media campaign to educate the public about what re-denomination entails. The new Ghana Cedi is now exchanging at a rate of $1 USD =Gh¢ 0.93
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Visitors arriving or departing Ghana with more than $5,000 in cash are required to declare the amount at the border. Currency exchange is available at most banks and at licensed foreign exchange bureaus, but currency transactions with private citizens are illegal. The Government of Ghana ... prohibits departing travelers from carrying more than 5,000,000 cedis (500 Ghana cedis) out of the country. Ghanaian currency must either be spent or exchanged before departure, or it will be confiscated.
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Ghana Cedi