With just a few days to the celebration of Ghana’s 66th Independence Day celebration, the Bank of Ghana has been given the history of the Ghanaian currency, cedi.
Established on the eve of Ghana’s independence, the Bank of Ghana issued and redeemed the Ghana Cedi to replace the West African Pound (£WA).
The Cedi has since undergone many phases and enhancements.
A major currency reform in 1965 saw a wide acceptance of the decimal system for the Cedi, a name derived from the Akan word, “sedie.”
A third and fourth reforms in 1969 and 1972 respectively were undertaken after a military coup d’etat, reflecting the political and economic uncertainty during those periods.
The Bank of Ghana issued a a press statement to detail the evolution of the Cedi to mark Ghana’s 66th Independence Day celebrations.
Click here to read the full statement from the Bank of Ghana