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The first cedi was introduced in 1965, replacing the pound at a rate of 2.4 cedi = 1 pound, or 1 pesewa = 1 penny. The first cedi was pegged to sterling at a rate of 2.4 cedis = £1, or 8s 4d per cedi.
The E-Cedi is part of a project called the 'Digital Ghana Agenda'. Its goal is the digitization of Ghana's 30 million people, and government services. The E-Cedi is to complement the Ghanaian cedi, and serve as an alternative to physical cash, and the 'Cashlite Agenda'. [5] The three phases for the E-Cedi are design, implementation, and piloting.
When the naira was introduced, it had an official exchange rate of US$1.52 for ₦1, though a currency black market existed in which the naira traded at a discount relative to the official exchange rate. The official exchange rate set by the Central Bank of Nigeria: naira to U.S. dollar is approximately ₦767.54 per 1 US dollar.
In December 2022, Ghana’s inflation rate hit 54.1% year-on-year - its highest rate in more than two decades - spurring protests over alleged economic mismanagement.
Ghana embarked on a currency re-denomination exercise from the Cedi (₵) to the new currency, Ghana Cedi (GH₵) in July 2007. The transfer rate is 1 Ghana Cedi for every 10,000 Cedis. Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [ 29 ]
As you dive into your New Year’s resolutions, taking precautions to protect yourself from a quartet of infectious diseases can lessen your odds of starting off 2025 sick.
West Texas Intermediate crude oil slumped 1.10% to $73.44 a barrel. Brent crude , the international benchmark, inched up 0.16% to trade at $76.28 a barrel. Gold moved up 0.5% to $2,662 an ounce.
1 ⁄ 2 d Kwame Nkrumah (Lettering:) CIVITATIS GHANIENSIS CONDITOR (the Founder of Ghana) KWAME NKRUMAH: Five-pointed star (Lettering:) GHANA 1958 & The value of the coin Bronze 2.9 g 21 mm Smooth 1 July 1958 1d 5.7 g 25.5 mm Plain 3d Copper/Nickel 3.3 g 19.5 mm 6d 2.2 g 16.5 mm 1/– 4.5 g 21 mm Reeded 2/– 8.9 g 26.5 mm