In the second half of 2007 both the second and third cedi were legal tender as the old currency was being gradually withdrawn. Over the last 7 days, the best beneficial exchange rate was 11,942,394.00. 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. In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. 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. 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. Our currency rankings show that the most popular Ghanaian Cedi exchange rate is the GHS to USD rate. 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 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. 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. 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. These six denominations were still in circulation until 2007. The first cedi was pegged to sterling at a rate of 2.4cedis = 1pound or 8s 4d per cedi. The currency converter shows the conversion of 1 US Dollars to Cedis as of today price. In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. USD [citation needed]. . Type the amount, select the original currency and the currency to which you want the amount to be converted. 1 Million USD to GHS - US Dollars to Ghanaian Cedis. 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]. [22] Such changes are frequent and are not covered in this list. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. As of today at 01:00AM UTC one billion five hundred million ghanaian cedis is equal to $127,229,851.58 (USD) or one hundred twenty-seven million two hundred twenty-nine thousand eight hundred fifty-one us dollars 58 cents. 1 Million USD to GHS - US Dollar to Ghana Cedi - Currency Converter X GHS 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. 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. The signature on the notes also changes when a new governor takes over the management of the Bank of Ghana. GHC: The currency abbreviation for the Ghanaian cedi - the official currency of the Republic of Ghana. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. Over 70 million downloads worldwide. Many other Ghanaians received "promise payment notes" from the banks, but never received compensation. 1 Input your amount. 1 Million Won to USD. Receive daily email about the USD GHS exchange rate. 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. Click on the drop-downs to select the currencies you want to convert between. Check send rates Ghanaian Cedi to US Dollar conversion Last updated Apr 30, 2023, 10:48 UTC Convert Ghanaian Cedi to US Dollar one hundred old pence, so that 1 pesewa was equal to one penny. Our currency converter is simple to use and also shows the latest currency rates. British pounds sterling to Ghanaian cedis - Wise Sending 1000.00 USD with. 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 . You can use this calculator offline while travelling in Ghana. 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. According to the mid-point between the "buy" and "sell" from global currency markets. 5000 . Simply type in the box how much you want to convert. 11537.02 GHS Save up to 419.51 GHS. 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. After the 50 note confiscation, fears existed that the government could also confiscate the 20 or even the 10 notes. 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. Ghanaian cedis to US dollars Exchange Rate. Convert GHS/USD - Wise For the basic conversion, we use the midpoint . -1.36%. 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. 1 USD to GHS - US Dollars to Ghanaian Cedis Exchange Rate - Xe Last rates updated 2023-04-29. 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. 100 US Dollars = 1,178.97 Ghanaian Cedis as of May 2, 2023 1:15:00 AM UTC. Exchange rate (1 USD GHS) Cheapest. 1 USD to GHS - Convert $1 US Dollar to Ghana Cedi - Currency Converter X The cedi's value continued to be eaten away on the black market. 10 US dollars to Ghanaian cedis Exchange Rate. Convert USD/GHS - Wise The table shows the data and analysis of the variations. US dollars to Ghanaian cedis Exchange Rate. Convert USD/GHS - Wise 1 Input your amount. 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. Using this website, you can find the current exchange rate for the Ghanaian cedi and a calculator to convert from Ghanaian cedis to Dollars. [2], Because of the rampant inflation in the decades before the exchange the second cedi was only worth a small fraction of its original value. 1.5 Billion GHS to USD - Ghanaian Cedis to US Dollars Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. [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-). Cowries (plural of cowry) were formerly used as currency in what is now Ghana. -41.27%. This chart will allow users to see the GHS/USD oscillation, and look at last year's data. Convert 1 US Dollars to Cedis - (USD in GHS) US dollars to Ghanaian cedis Exchange Rate. The US Dollar is Get in touch with us now. 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 . The years of issue does not indicated that the series have been coined every year in the period but that the coin has been issued more than once in the stated period. Inverse: 1,500,000,000.00 USD = 17,684,529,000.00 GHS, Best 1,500,000,000 GHS to USD Exchange Rate. up +18.00% Convert USD/GHS - Wise 1 US dollar 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 03:27 UTC Track the exchange rate Send money The safe and easy way to exchange your money The change also provided an opportunity to remove Kwame Nkrumah's image from coins and notes. The exchange rate used for the USD/GHS currency pair was : 11.75. it into the desired position in your websites HTML source code. You can get live exchange rates between US Dollars and Ghanaian Cedis using exchange-rates.org, Exchange-rates.org is a currency and cryptocurrency converter tool and data provider used by millions of people across the globe every month. The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. Over the last 7 days, the best beneficial exchange rate was $84,819.90. Explore the account used by 13 million people to live, work, travel and transfer money worldwide. Convert 1000000 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. This allowed a decimal conversion with the pound, namely 2 second cedis = 1 pound. The low point was 7.4527 Ghanaian Cedis per US Dollar on May 3, 2022. 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. [20][21] Most of the Ghanaian banknotes have been changed slightly from one year's issue to the next year's issue in the ongoing technological fight against counterfeit money. The exchange rate used for the USD/GHS currency pair was : 11.75. This chart shows data from 2022-5-2 to 2023-5-1. Popular US Dollar (USD) Pairings. 3 That's it. The new cedi was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. Recipient gets (Total after fees) Transfer fee. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. 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. Alternatively, you may try converting Ghanaian Cedis to US Dollars. How much is 1 million Ghanaian cedis to US Dollars We give you the real rate, independently provided by Reuters. The new republic's first independent currency was the Ghanaian pound (19581965). In 2014, the inflation rose rapidly as the value of the third cedi fell to a fourth of its original value. 2 Choose your currencies. Ghanaian cedi - Wikipedia The currency code for Cedis is GHS, and the currency symbol is GH. Also, its best to convert US Dollars to Ghanaian Cedis early in the week if you need Ghanaian Cedis urgently. The symbol for the currency is "GH", used as a prefix. year to date against the Ghanaian Cedi. Note: Rates obtained from these websites may contradict with, Last edited on 31 December 2022, at 11:32, The shield from the Coat of arms of Ghana, "Metal cedis and pesewas modern coins of Ghana", "Don't Give Out Change In Old notes, Coins", "Ghana Cedi at risk of sliding to 4 per Dollar, HFC says", "Bank of Ghana to phase out GH1 and GH2 notes soon", "GH1 and GH2 coins won't suffer fate of 1 pesewa coin Financial Expert assures", "We're already 'Breaking the 10'; the dollar is over-speeding Dr. Otchere-Ankrah 'shades' NPP", "CORRECTED-Ghana consumer inflation rises to 37.2% in September, statistics service says", "Emerging-Market Debt Is Sliding Into Distress. This confiscation was publicly justified as a means to create a disincentive for the flourishing black market. Weve been featured in some of the most reputable financial publications in the world, including Business Insider, Investopedia and Coindesk. Currency Rate Change; EUR / USD: . This means that in the general circulation there are worn out coins and coins in mint condition from the same issuing year. . Every time. Our smart tech means were more efficient which means you get a great rate. The exchange rate used for the NGN/GHS currency pair was : .026. Current tool convert USD in GHS using live average market currency rates. 300000 United States Dollars (USD) to Ghana Cedis (GHS) today As of today at 01:00AM UTC one million us dollars is equal to 11,789,686.00 (GHS) or eleven million seven hundred eighty-nine thousand six hundred eighty-six ghanaian cedis. A number of Ghanaian coins have also been issued in Sika denomination, and may have no legal tender status. The government decided to "cut" four zeros off the currency by switching to the third cedi. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. 1 Million Dollars to Ghana Cedis - 1 Million USD to GHS - Fx Rates Live The word cedi is derived from the Akan word for cowry shell which were once used in Ghana as a form of currency. 1.5 Billion GHS to USD - Ghanaian Cedis to US Dollars. After independence, Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. One cedi is divided into one hundred pesewas (Gp). Conversely, 1 GHS is worth 0.08482 USD. 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.
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