Exchange GBP to GHS - Convert Pound to Ghanaian cedi- Free Online Quote

GBP to GHS Exchange Rate

Currency Exchange Rates for Ghana Cedi. Currency Information on Ghana Cedi - GHS — Ghanaian cedi - GH₵ or GH¢. The foreign exchange currency code for GHS represents the Ghana Cedi exchange rate.

Ghana used to use the British West African Pound, but this was replaced with the Ghanaian pound when the country gained independence in 1958.

The Ghanaian pound was replaced with the cedi and pesewa (1/100th of a cedi) in 1965. The second cedi was introduced in 1967, and remained the official currency of Ghana until the third – and current - cedi replaced it in 2007.

Currency Information on GHS. Coins circulate in denominations of 1, 5, 10, 20 and 50 pesewa, and 1 cedi, banknotes are available in denominations of 1, 2, 5, 20, 20 and 50 cedi.

The Ghanaian Cedi has been the official currency in circulation in Ghana since 1965. Before that Ghana was using the Ghanaian pounds which was based on the British, Colonial monetary system. The origins of the Cedi can be traced to pre-colonial Ghana. Then the responsibility of currency issuance was mandated to the West African Currency Board which issued West African pounds that were in circulation through out west Africa including Ghana. This currency was further subdivided into shillings and pence. The West African pounds remained the official currency in Ghana until 1958.

Ghanaian National Currency

The issuance of a currency that was exclusively Ghanaian occurred in the month of July, 1958. This currency was known as the Ghanaian pounds, and was subdivided into shillings and pence. This was prompted by the formation of the Bank Ghana which took over issuance of currency from the now defunct West Africa Currency Board.

Formation and Evolution of the Cedi

The Cedi was born in 1965 after the Ghanaian authorities opted to remove themselves from the British currency system and instead adopt the now widely accepted decimal currency system. The name Cedi was coined from the word "sedie" which meant Cowrie Shells. These shells were used as currency in the West Africa In the late 19th, century. This currency was to comprise of the Cedi notes and Pesewa coins, the currency bore the portrait of Ghana's founding president Dr. Kwame Nkrumah. The Cedi was equivalent to eight shillings and four cents.

In 1967, the existing regime in Ghana was successfully overthrown by the Military. The new Military administration decided to form the new Cedi in which they removed the portrait of the former president. The New Cedi was in circulation until 1973 when it became to be known simply as the Cedi. This currency ran until 2007 when it was fazed out in favour of the Ghana Cedi, this was prompted by the high inflation rates that saw the Currency's highest denomination be a 20,000 bank note

Convert Pound to Ghanaian cedi

Convert GBP to GHS exchange rate. Buy and sell British Pounds to Ghanaian cedi. Convert GHS to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to GHS - Convert Pound to Ghanaian cedi for a free Online Quote.

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