This fear, along with inflation running at about 100% annually, started causing Ghanaians to lose their faith in their country's own currency. The first cedi was replaced in 1967 by a "new cedi" which was worth 1.2 first cedis. [7], Due to its negligible purchasing power, the one pesewa coin is rarely seen in circulation. Currency Rate Change; EUR / USD: . The exchange rate used for the USD/GHS currency pair was : 11.75. It was the highest-valued currency unit issued by sovereign countries in Africa in 2007. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. Ghanaians, in theory, could exchange any number of 50 notes for coins or other banknotes without loss, but foreigners could not make any exchange. 1 USD To GHS Convert United States Dollar To Ghanaian Cedi 1 USD = 11.776143 GHS May 01, 2023 09:28 UTC Send Money Check the currency rates against all the world currencies here. Decades of high inflation devalued the new cedi, so that in 2007 the largest of the "new cedi" banknotes, the 20,000 note, had a value of about US$2. The exchange rate used for the USD/GHS currency pair was : 11.75. This process ended in 1990 with a free float of the cedi against foreign currencies. For the basic conversion, we use the midpoint between the buy and sell rates of USD to GHS at currency exchanges across the globe. The United States Dollar to Cedi exchange rate on the chart allows you to track changes over different periods and draw conclusions about possible forecasts of the exchange rate of one currency in relation to another. Simply type in the box how much you want to convert. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. One cedi is divided into one hundred pesewas (Gp). This chart will allow users to see the GHS/USD oscillation, and look at last year's data. -41.27%. 2 Choose your currencies. Type the amount, select the original currency and the currency to which you want the amount to be converted. And if they have a fee, they charge you twice. How to convert US dollars to Ghanaian cedis. provides the information in its best way. 3 That's it. Simply enter the amount of USD you want to convert to GHS in the box labeled "Amount", and youre done! In 1979 a currency confiscation took place. Currency Information. 2 Choose your currencies. Banks and other transfer services have a dirty little secret. The currency code for Cedis is GHS, and the currency symbol is GH. 1 USD . Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. After the 50 note confiscation, the 20 note was the highest cedi denomination, but had a street value of only about $0.35 (U.S.). Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to "Open Exchange Rates" and provides the information in its best way. The US Dollar is Weve been featured in some of the most reputable financial publications in the world, including Business Insider, Investopedia and Coindesk. Over 70 million downloads worldwide. 1 Input your amount. Convert USD/GHS - Wise US dollars to Ghanaian cedis Convert USD to GHS at the real exchange rate USD Converted to GHS 1.00000 USD = 11.66000 GHS Mid-market exchange rate at 11:47 UTC Track the exchange rate Send money The safe and easy way to exchange your money which aggregates real-time forex data from the most authoritative sources. The fast and reliable converter shows how much you would get when exchanging one million US Dollar to Ghana Cedi. 23245.57 GHS Save up to 185.57 GHS. You can get live exchange rates between US Dollars and Ghanaian Cedis using exchange-rates.org, At the end of December 2007, more than 90% of all old coins and notes had been withdrawn. The exchange rate used for the USD/GHS currency pair was : 11.75. The second cedi was initially pegged to sterling at a rate of 2 = 1stg. After the 50 note confiscation, fears existed that the government could also confiscate the 20 or even the 10 notes. [15] Beside the coins in general circulation the bank have also issued commemorative coins[16] These special coins have been issued in shillings (1958), crowns (1965), pounds (19581977), sikas (19972003) and cedis (2013-). Alternatively, you may try converting US Dollars to Ghanaian Cedis. The porcelain-like shells came to West Africa, beginning in the 14th century, through trade with Arab merchants. US dollars to Ghanaian cedis Exchange Rate. A number of Ghanaian New Cedi coins have also been issued in Sika denominations. The. Federal Reserve Bank Historical Exchange Rates For Ghana Cedi to United States Dollar 120-day exchange rate history for GHS to USD Quick Conversions from Ghana Cedi to United States Dollar : 1 GHS = 0.0849132 USD Last Updated 4/30/2023 7:41:03 PM While the USDGHS spot exchange rate is quoted and exchanged in the same day, the USDGHS forward rate is quoted today but for delivery and payment on a specific . 13.93 USD. 1 US dollar to Ghanaian cedis Exchange Rate. The Bank of Ghana has never stated if they are simply holding back already stamped coins until they are needed or if they are stamping coins successively with old issue years. A year ago today, on this day, they provided the equivalent of $1,000,000.00 us dollars for 7,517,115.00 ghanaian cedis, which is 4,272,571.00 less than it is now. 4.5/5, 2.2k ratings. Set an alert now, and well tell you when it gets better. Don't forget to look at and compare exchange rates from other banks available from 2 sources. Ghanaian Cedi. The new coins are 1pesewa (100 old cedi), 5pesewas (500), 10 pesewas (1,000), 20 pesewas (2,000), 50 pesewas (5,000), 1cedi (10,000) and 2 cedis (20,000).[19]. The cedi's value continued to be eaten away on the black market. By 1983 the cedi was worth about 120 to one U.S. dollar on the black market, a pack of cigarettes cost about 150 (if they could be found), but the bank rate continued at 2.80 = $1.00. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to Open Exchange Rates and Youll now see the value of the converted currency according to the most recent exchange rate. Our currency converter is simple to use and also shows the latest currency rates. The current exchange rate is equivalent to 0.0848. in Ghana Cedi is 11,750,390 (GHS). In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. However, many Ghanaians who were hoarding large amounts of cedis feared reprisal if they tried to convert all of it, and so simply burned a lot of their money. However, from a monetary perspective, currency confiscations have the effect of reducing the available cash in the economy, and thereby slowing the rate of inflation. In 2021, the oil and gas sector was projected to add 10.59 billion Ghanaian cedis (GHS), around 1.83 billion U.S. dollars, to the Gross Domestic Product . Exchange-rates.org is a currency and cryptocurrency converter tool and data provider used by millions of people across the globe every month. Due to periods of "sustained high inflation" and "perennial depreciation of the currency", the Bank of Ghana on 29 November 2019, announced the issuance of a new 2-cedi coin and as well as new 100 and 200-cedi banknotes. Exchange-Rates.org 2023 MBH Media, Inc. The exchange rate used for the USD/GHS currency pair was : 10.75. Check send rates Ghanaian Cedi to US Dollar conversion Last updated Apr 30, 2023, 10:48 UTC Convert Ghanaian Cedi to US Dollar Click to copy to clipboard. [8][9], In August 2022, accelerating inflation and continued economic mismanagement has caused the cedi's value to drop to 10 U.S. cents (GH10 = US$1). A number of Ghanaian coins have also been issued in Sika denomination, and may have no legal tender status. It is the fourth historical and only current legal tender in the Republic of Ghana. The currency converter shows the conversion of 1 US Dollars to Cedis as of today price. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. The new currency was not introduced as the third cedi but is instead officially called the "Ghanaian cedi" (GH), in contrast to the second cedi that was officially known as the "new cedi". DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. 1 Input your amount. The exchange rate of the United . Our currency converter will show you the current rate and how it's changed over the past day, week or month. 14 Million USD to GHS. The word cedi is the Akan word for cowry shell. For one million cedis (GHS) you get today 84,819 dollars 90 cents (USD) at an exchange rate of 0.08482 as of 01:00 AM UTC. Apr/27. . The fast and reliable converter shows how much you would get when exchanging one US Dollar to Ghana Cedi. analyse and verify our content before relying on them. was 14.627 Ghanaian Cedis per US Dollar on November 28, 2022. The exchange rate used for the NGN/GHS currency pair was : .026. Any use of our content is solely at your own risk and discretion. Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. Click on the drop-downs to select the currencies you want to convert between. Finally, with foreign currency completely drying up for all import transactions, the government was forced to begin a process of gradual devaluation, and a liberalization of its strict price controls. They add hidden markups to their exchange rates - charging you more without your knowledge. [12] The exchange rate as of 24October2022[update] was about GH15 per U.S. -0.3982. Find out the best rate in banks for GHS/USD exchange rates below. The USD and GHS can be traded 24x5 starting from the time markets open on Monday mornings in Sydney all the way to the time markets close on Fridays at 5 pm in New York. This is for informational purposes only. up +18.00% Reverse : 14000000 GHS to USD, This website uses cookies to ensure you get the best experience on our website. However, within months, the second cedi was devalued to a rate of 2.45 = 1stg, less than the initial value of the first cedi. A year ago today, on this day, they provided the equivalent of 1,000,000.00 ghanaian cedis for $133,029.76 us dollars, which is $48,209.86 more than it is now. against the Ghanaian Cedi. You should conduct your own research, review, Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. USD [3] From January 2008 old banknotes could only be exchanged at banks and were no longer legal tender. Our currency converter will show you the current rate and how it's changed over the past day, week or month. Current conversion is actual and use latest exchange rate of United States Dollar and Ghanaian Cedi currencies. provides the information in its best way. Conversely, 1 GHS is worth 0.08482 USD. Many other Ghanaians received "promise payment notes" from the banks, but never received compensation. Today's Value of 1,000,000 Nigerian Naira in Ghana Cedi is 25,514.91 (GHS). This chart will allow users to see the GHS/USD oscillation, and look at last year's data. one hundred old pence, so that 1 pesewa was equal to one penny. Convert 1 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. . A second confiscation took place in 1982, when the 50 note (the highest denomination) was demonetized. Sending 1000.00 USD with. You can convert US Dollars to Ghanaian Cedis by using the exchange-rates.org currency converter in just one easy step. Reverse : 1000000 GHS to USD, This website uses cookies to ensure you get the best experience on our website. As of today at 00:00AM UTC one billion five hundred million ghanaian cedis is equal to $132,754,864.34 (USD) or one hundred thirty-two million seven hundred fifty-four thousand eight hundred sixty-four us dollars 34 cents. For the basic conversion, we use the midpoint . The currency symbol is GH. Type the amount, select the original currency and the currency to which you want the amount to be converted. This allowed a decimal conversion with the pound, namely 2 second cedis = 1 pound. Popular US Dollar (USD) Pairings. Be on the lookout for any changes, ready up-to-date. 1.00 US Dollar = 11.78 2487 Ghanaian Cedis 1 GHS = 0.0848717 USD We use the mid-market rate for our Converter. Wise US Inc is authorized to operate in most states. Exchange rate (1 USD GHS) Cheapest. The table shows the data and analysis of the variations. The introduction of the new denomination coincided with the conclusion of the year-long centenary celebrations of the birth of Kwame Nkrumah, Ghana's first president, and has the commemorative text "Centenary of the Birth of Dr.Kwame Nkrumah".[5]. Click on the drop-downs to select the currencies you want to convert between. Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. This means the US Dollar has increased in value compared to the Ghanaian Cedi. 1 Million USD to GHS - US Dollars to Ghanaian Cedis. The table shows the data and analysis of the variations. The government decided to "cut" four zeros off the currency by switching to the third cedi. The word "cedi" derives from the African word for . = 164,505,460.00 As of today at 01:00AM UTC one million ghanaian cedis is equal to $84,819.90 (USD) or eighty-four thousand eight hundred nineteen us dollars 90 cents. Only coins that have been or are in general circulation are included in this list. Our currency converter will show you the current rate and how it's changed over the past day, week or month. How to convert US dollars to Ghanaian cedis. The signature on the notes also changes when a new governor takes over the management of the Bank of Ghana. The "new cedi" (19672007) was worth 1.2 cedis, which made it equal to half of a pound sterling (or ten shillings sterling) at its introduction. 1 Million USD to GHS - US Dollar to Ghana Cedi Currencies Trading Calendar Online Currency Converter Currency Converter X helps you convert 170+ world currencies and get the latest exchange rates. 10 Million USD to GHS - US Dollar to Ghana Cedi Currencies Trading Calendar Online Currency Converter Currency Converter X helps you convert 170+ world currencies and get the latest exchange rates. Further pegs were set of $0.55 in 1971, $0.78 in 1972, and $0.8696 in 1973 before the currency was floated in 1978. The new republic's first independent currency was the Ghanaian pound (19581965). 100 Canadian to USD. 1,000,000.00 The years of issue do not indicate that the series has been printed every year in the period, but that the banknote has been issued more than once in the given period. [6] The devaluation was temporarily halted in the last quarter of 2014 as the currency stabilized due to a pending IMF bailout of Ghana. As a result, the US Dollar has Click on the drop-downs to select the currencies you want to convert between. Be on the lookout for any changes, ready up-to-date. This chart will allow users to see the USD/GHS oscillation, and look at last year's data. Alternatively, you may try converting Ghanaian Cedis to US Dollars. In the last 10 years, the highest rate from US Dollars to Ghanaian Cedis was on November 28, 2022 when each US Dollar was worth GH14.627. Also, you can make a reverse calculation and find out the current value of 300000 Cedis in United States Dollars. 3.8/5, 90.8k ratings. Be on the lookout for any changes, ready up-to-date. You should conduct your own research, review, analyse and verify our content before relying on them. 1 GH = 100 pesewa Symbol GH The cedi is the unit of currency of Ghana. GHS Ghanaian cedi USD US Dollar Convert 1000000 GHS to USD For one million cedis (GHS) you get today 85,106 dollars 38 cents (USD) at an exchange rate of 0.08511 as of 23:00 PM UTC. 1.0000 USD = 11.790 GHS May 2, 2023 01:15 AM UTC. . Here's what the experts have to say, Bitcoin pulls back to start May as First Republic Bank saga comes to an end, Mastering this skill is the hardest part of personal finance, advisors say, Stocks making the biggest moves midday: JPMorgan Chase, General Motors, Exxon Mobil & more, Jamie Dimon says 'this part of the crisis is over' after JPMorgan Chase buys First Republic, Stocks making the biggest moves premarket: First Republic, JPMorgan Chase, SoFi Technologies & more, JPMorgan Chase takes over First Republic after biggest U.S. bank failure since 2008, Charlie Munger says the U.S. commercial property market is in trouble: FT report, Big banks including JPMorgan Chase, Bank of America asked for final bids on First Republic. In September 2021, the Bank of Ghana began the process of withdrawing GH1 and GH2 notes from circulation to encourage the use of coins of their corresponding face values. Some transactions could only then be done in foreign currencies (although that was technically illegal), and other, more routine transactions began to revert to barter. Current tool convert USD in GHS using live average market currency rates. Converter X provides up-to-date exchange rates on global currencies based on Open Exchange Rates. Our currency rankings show that the most popular Ghanaian Cedi exchange rate is the GHS to USD rate. Our smart tech means were more efficient which means you get a great rate. You won't receive this rate when sending money. Existing 1 and 2 cedi banknotes remain legal tender, though these denominations will be gradually replaced by coins to reduce costs. Inflation continued (see the exchange rate chart) until by July 2007, one US dollar was worth about 9500, and a transition to the third cedi was initiated. As of today at 05:00AM UTC one million us dollars is equal to 10,888,605.00 (GHS) or ten million eight hundred eighty-eight thousand six hundred five ghanaian cedis. Recipient gets (Total after fees) Transfer fee. Below, you'll find Ghanaian Cedi rates and a currency converter. it into the desired position in your websites HTML source code. Converter X provides up-to-date exchange rates on global currencies based on Open Exchange Rates. The low point was 7.4527 Ghanaian Cedis per US Dollar on May 3, 2022. Inverse: 1,500,000,000.00 USD = 17,684,529,000.00 GHS, Best 1,500,000,000 GHS to USD Exchange Rate. Today's Value of 14,000,000 Dollars Recipient gets (Total after fees) Transfer fee. Check the latest currency exchange rates for the US Dollar, Ghanaian Cedi and all major world currencies. Stocks making the biggest moves after hours: Arista Networks, Chegg, MGM Resorts, Stryker and more, JPMorgan shares pop after the bank takes over embattled First Republic. More Ghanaian Cedi info. 1 US Dollar = 11.776 Ghanaian Cedis as of May 1, 2023 5:10:00 AM UTC. The cryptocurrency values displayed on our site are aggregated from millions of data points and pass through proprietary algorithms in order to deliver timely and accurate prices to our users. Inverse: 1,000,000.00 USD = 11,789,686.00 GHS. The new cedi was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. However, the time between 3-4 PM GMT is often a good time to convert US Dollars to Ghanaian Cedis because currency market liquidity and trading volume tend to be the highest during this time. 14,000,000.00 Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. dollar. We give you the real rate, independently provided by Reuters. In the majority of cases, this data is sufficient to predict future changes. The Ghanaian New Cedi was introduced on July 3, 2007 and is equal to 10,000 old (Second) Cedis. The first modern coins exclusively used at the Gold Coast were produced in 1796 but cowries were used alongside coins and gold dust as currency until 1901.[1]. After independence, Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. Any use of our content is solely at your own risk and discretion. Sending 2000.00 USD with. You won't receive this rate when sending money. According to the mid-point between the "buy" and "sell" from global currency markets. We use cookies to personalize content, ads and to analyze our traffic. Simply type in the box how much you want to convert. This had the effect of driving nearly all commerce underground, where black market prices for commodities were the norm, and nothing existed on store shelves. 1 USD in GHS: 10 days history. 300,000 USD = 3,247,283.40 GHS at the rate on 2023-04-08. [citation needed]. 100 US Dollars = 1,178.97 Ghanaian Cedis as of May 2, 2023 1:15:00 AM UTC. With the currency converter, you can convert 300,000 United States Dollars to Cedis and find out how much three hundred thousand dollars is currently worth in Cedis. The Monetaria moneta or money cowry is not native to West African waters but is a common species in the Indian Ocean. GHS The third Cedi has been losing value continuously since it was introduced. Today's Value of 1,000,000 Dollars year to date against the Ghanaian Cedi. Compared to yesterday, the cost 1,000,000 of the cedis remains unchanged. for even more real-time currency quotes or try to apply technical analysis tools on interactive charts. According to the mid-point between the "buy" and "sell" from global currency markets. Here's what the experts have to say, Bitcoin pulls back to start May as First Republic Bank saga comes to an end, Mastering this skill is the hardest part of personal finance, advisors say, Stocks making the biggest moves midday: JPMorgan Chase, General Motors, Exxon Mobil & more, Jamie Dimon says 'this part of the crisis is over' after JPMorgan Chase buys First Republic, Stocks making the biggest moves premarket: First Republic, JPMorgan Chase, SoFi Technologies & more, JPMorgan Chase takes over First Republic after biggest U.S. bank failure since 2008, Charlie Munger says the U.S. commercial property market is in trouble: FT report, Big banks including JPMorgan Chase, Bank of America asked for final bids on First Republic. 2000 Euros to US Dollars. GHS In the second half of 2007 both the second and third cedi were legal tender as the old currency was being gradually withdrawn. A year ago today, on this day, they provided the equivalent of 1,500,000,000.00 ghanaian cedis for $199,544,639.13 us dollars, which is $72,314,787.55 more than it is now. Coins and bank accounts were unaffected. purchasing power compared to Ghanaian Cedi over the last 10 years. The cost of 300,000 United States Dollars in Ghana Cedis today is 3,247,283.40 according to the "Open Exchange Rates", compared to yesterday, the exchange rate increased by 0.46% (by +0.05). 2 Choose your currencies. Today's Value of 1,000,000 Dollars in Ghana Cedi is 10,750,057 (GHS). You can use this calculator offline while travelling in Ghana. In 1991, 10, 20, 50, and 100 cedi coins were introduced, followed by 200 and 500 cedis in 1996. Exchange rate (1 USD GHS) Cheapest. We partner with the most popular currency and cryptocurrency data providers worldwide to bring you the most recent quotes for all major cryptocurrencies. Alternatively, you may try converting US Dollars to Ghanaian Cedis. Sponsored If you execute a trade late in the week, it might not settle until the following week given that forex markets are closed on weekends. The first cedi was pegged to sterling at a rate of 2.4cedis = 1pound or 8s 4d per cedi. [17] It is unclear if the Bank of Ghana considered commemorative crowns and sikas together with the commemorative pounds that were coined after 1965 as legal tender or simply as medallions.[18]. $1 = 10.82 +0.05 (+0.46%) at the rate on 2023-04-08. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to "Open Exchange Rates" and provides the information in its best way. 1 Million GHS to USD - Ghanaian Cedis to US Dollars As of today at 06:00AM UTC one million ghanaian cedis is equal to $91,839.13 (USD) or ninety-one thousand eight hundred thirty-nine us dollars 13 cents. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. = 11,750,390.00 Explore the account used by 13 million people to live, work, travel and transfer money worldwide. The high point for the USD/GHS rate Every time. [13][14], The Bank of Ghana has been issuing all Ghanaian coins since 1958. The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. [11], By October 2022, the cedi became the world's worst performing currency, having lost 60% of its value relative to the U.S. dollar since the end of 2021. 16.59 USD. Wise never hides fees in the exchange rate. You can get live exchange rates between US Dollars and Ghanaian Cedis using exchange-rates.org, which aggregates real-time forex data from the most authoritative sources. GHC: The currency abbreviation for the Ghanaian cedi - the official currency of the Republic of Ghana. However, the 10 cedis (~0.1 U.S. cents) and 20 cedis (~0.2 U.S. cents) coins were not seen much due to their small value. Our smart tech means were more efficient which means you get a great rate. , Feb 2, 2023. Using this website, you can find the current exchange rate for the Ghanaian cedi and a calculator to convert from Ghanaian cedis to Dollars. The current exchange rate is equivalent to 11.7897.

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