The Bank of Ghana has been given the history of the Ghanaian currency, the cedi, with just a few days to the celebration of Ghana’s 66th Independence Day.
The Ghana Cedi, which was created by the Bank of Ghana to replace the West African Pound (£WA), was introduced on the eve of Ghana’s independence.
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.