Ghana introduced the cedi as its currency in 1965.
The cedi replaced the Ghanaian pound, shilling, and pence system on 19 July 1965. Its name comes from the Akan word “sedie,” meaning cowrie shell. Cowries were historically used as money in parts of West Africa, so the name connects Ghana’s modern currency with an older regional tradition of exchange.
Ghana’s currency has undergone redenominations, including the 2007 change that created the current Ghanaian cedi at a rate of 10,000 old cedis to 1 new cedi. The cedi is divided into 100 pesewas, and its ISO code is GHS. The Bank of Ghana issues the country’s banknotes and coins.
The cedi is often confused with currencies in other West African countries because Ghana shares regional history and trade links with them. Nigeria uses the naira, Sierra Leone uses the leone, and Liberia uses the Liberian dollar. Their names, monetary authorities, and currency codes are different.