Ghana's Currency
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The official currency of Ghana is the Ghana Cedi. Named after the cowry shell, which was a traditional form of currency used in trading, the Cedi replaced the Ghana pound in the 1960s. The cedi has been redenominated several times, mostly due to it's historic performance, where it has not maintained it's value on the international money market. In July 2007, a new Cedi went into circulation. Essentially, the new Cedi slashed four zeroes off he end of the former Cedi (ie, 10,000 old Cedis became 1 new Cedi). Higher denominations were issued (the highest value note prior to redenomination was 20,000 Cedis - the equivalent of around $2usd). All of the new Ghana Cedi banknotes generically features the "Big Six" (clockwise from left - Dr. Kwame Nkrumah, Emmanuel Odarkwei Obetsebi-Lamptey, Edward Akufo-Addo, William Ofori Atta, Dr. Ebenezer Ako-Adjei, and Dr. Joseph Boakye Danquah), the Independence Arch, and Ghana's Coat-Of-Arms on the front, and only differs based on the currency amount, colour, dimension of the note. The back of the banknote features a different iconic building related to Ghana in the same colour tone as the front of the note. Generic to all Cedi banknotes is a watermark of a cocoa bean & an image of Tetteh Quashie, and a foil security strip. The 10GH¢, 20GH¢, and 50GH¢ banknotes also feature a shaped foil marker with the initials "BG" (Bank Of Ghana), followed by the denomination amount. The sub-unit of the Cedi, the Pesawa, was also redenominated, with a value of 100 Pesawas equating to 1 Ghana Cedi.
The front of the redenominated 1 Ghana Cedi (GH¢) banknote.
The new 1GH¢ banknote is the smallest denomination of paper currency in Ghana. The banknote is 137mm x 65mm in size, and has a pink/red colour tone.
The back of the redenominated 1 Ghana Cedi (GH¢) banknote, illustrated with the Akosombo Hydroelectric Dam.
The back of the 1GH¢ banknote features an image of the Akosombo Hydroelectric Dam, which was a project adopted by the government of Dr Kwame Nkrumah, which still supplies the bulk of the electrical power for not only Ghana, but Togo & Benin.
The front of the redenominated 5 Ghana Cedi (GH¢) banknote.
The new 5GH¢ banknote is the second-smallest denomination of paper currency in Ghana. The banknote is 141mm x 68mm in size, and has a light & mid blue colour tone.
The back of the redenominated 5 Ghana Cedi (GH¢) banknote, illustrated with the Balme Library & surrounds at the University Of Ghana campus at Legon, Greater Accra Region.
The back of the 5GH¢ banknote features images of the Balme Library at the University Of Ghana in Legon, including the clock tower, gardens and sculpture in the plaza, and the library itself.
The front of the redenominated 10 Ghana Cedi (GH¢) banknote.
The new 10GH¢ banknote is the third-largest denomination of paper currency in Ghana. The banknote is 145mm x 71mm in size, and has a pale green & yellow colour tone. The back of the redenominated 10 Ghana Cedi (GH¢) banknote, illustrated with the administration building for the Bank Of Ghana in Accra.
The back of the 10GH¢ banknote features an image of the Bank Of Ghana, which is located on High Street in Ussher Town, Accra.
The front of the redenominated 20 Ghana Cedi (GH¢) banknote.
The new 20GH¢ banknote is the second-largest denomination of paper currency in Ghana. The banknote is 149mm x 74mm in size, and has a indigo/purple colour tone. The back of the redenominated 20 Ghana Cedi (GH¢) banknote, illustrated with the Ghana Supreme Court building in Accra.
The back of the 20GH¢ banknote features an image of the Supreme Court of Ghana, which is located on the corner of High Street & Thorpe Road in Victoriaborg, Accra.
The front of the redenominated 50 Ghana Cedi (GH¢) banknote.
The new 50GH¢ banknote is the largest denomination of paper currency in Ghana. The banknote is 153mm x 77mm in size, and has a brown/khaki colour tone. The back of the redenominated 50 Ghana Cedi (GH¢) banknote, illustrated with Christiansborg Castle, the seat of power for Ghana, in Accra.
The back of the 50GH¢ banknote features an image of Christiansborg Castle in Osu, Accra, which is the seat of power for the Republic of Ghana.
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| Last Updated ( Sunday, 11 October 2009 ) |
