Ghanaian Cedi


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Ghanaian Cedi

The currency of Ghana. The first cedi was issued in 1965 and was pegged to the British pound. Two years later, the second cedi was issued with a different peg. It briefly floated in the late 1970s but was subject to high inflation. To counteract the inflation, the third cedi was issued in 2007, after which inflation eased significantly.
References in periodicals archive ?
The Bank has recently approved an additional five African currencies including the Ghanaian Cedi and the Franc CFA for both West and Central African zones as official lending currencies of the Bank.
The currencies to be replaced are: The Nigerian Naira, the Ghanaian Cedi, the Guinean Franc, the Sierra Leonean Leone and the Gambian Dalasi.
According to the AfDB, the funds will be drawn in multiple African currencies that include the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
Inflation is now firmly in single digits, and the Ghanaian cedi has remained broadly stable against the dollar, underpinned by an improved external position, "Christina Daseking reported in September this year, after leading an IMF research team to Accra.
In a press statement released on December 12, 2012, AfDB said the line of credit will be drawn in multiple African currencies including the Ghanaian Cedi, Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Mozambican Metical and the Tanzanian Shilling.
The line of credit will be drawn in multiple African currencies including the Nigerian Naira, the Kenyan Shilling, the Zambian Kwacha, the Ghanaian Cedi, the Mozambique Metical and the Tanzanian Shilling.
Acquah added that the Ghanaian cedi had depreciated by 13% against the US dollar, 9.9% against the pound sterling and 6.6% against the euro.