Youll now see the value of the converted currency according to the most recent exchange rate. The Ghanaian cedi (ISO code: GHS), is the official currency of Ghana. 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. 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. Find out the best rate in banks for GHS/USD exchange rates below. This means the US Dollar has increased in value compared to the Ghanaian Cedi. 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. The current exchange rate is equivalent to 0.0848. 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 . [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. [citation needed]. This is for informational purposes only. One cedi is divided into one hundred pesewas (Gp). 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]. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. 14 Million USD to GHS. analyse and verify our content before relying on them. Be on the lookout for any changes, ready up-to-date. The list is sorted at the top, from left to right, in descending order. Ghanaian Cedi. GHS This chart will allow users to see the GHS/USD oscillation, and look at last year's data. -1.36%. You can convert US Dollars to Ghanaian Cedis by using the exchange-rates.org currency converter in just one easy step. A number of Ghanaian New Cedi coins have also been issued in Sika denominations. analyse and verify our content before relying on them. To view rates between the US Dollar and the Ghanaian Cedi for a particular year, click on one of the links below. The exchange rate used for the NGN/GHS currency pair was : .026. The word cedi is the Akan word for cowry shell. The exchange rate used for the USD/GHS currency pair was : 11.75. The table shows the data and analysis of the variations. Receive daily email about the USD GHS exchange rate. 100 Canadian to USD. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Our currency rankings show that the most popular Ghanaian Cedi exchange rate is the GHS to USD rate. Simply type in the box how much you want to convert. 1 Input your amount. The third Cedi has been losing value continuously since it was introduced. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. Simply type in the box how much you want to convert. Simply type in the box how much you want to convert. gained The word cedi is derived from the Akan word for cowry shell which were once used in Ghana as a form of currency. Exchange-Rates.org 2023 MBH Media, Inc. Check send rates US Dollar Ghanaian Cedi conversion Last updated Apr 29, 2023, 07:56 UTC Convert US Dollar to Ghanaian Cedi This website uses cookies to ensure you get the best experience on our website, "https://www.currencyconverterx.com/pic-USD-GHS". Exchange rate (1 USD GHS) Cheapest. Inverse: 1,000,000.00 GHS = 84,819.90 USD. Our smart tech means were more efficient which means you get a great rate. We give you the real rate, independently provided by Reuters. The first cedi was introduced in 1965, replacing the pound at a rate of 2.4cedi = 1pound, or 1pesewa = 1penny. Convert 1 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. Type the amount, select the original currency and the currency to which you want the amount to be converted. The currency converter shows the conversion of 1 US Dollars to Cedis as of today price. 1 US Dollar = 11.776 Ghanaian Cedis as of May 1, 2023 5:10:00 AM UTC. 23245.57 GHS Save up to 185.57 GHS. Banks and other transfer services have a dirty little secret. Compared to yesterday, the cost 1,000,000 of the cedis remains unchanged. Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. USD In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. One Ghanaian New Cedi is divided into one hundred Ghana pesewas. Just Look at Ghana", "Ghana's cedi now the world's worst-performing currency as Kenya's shilling also struggles", "$1 now 15.20; rate of depreciation to pound, euro slow down MyJoyOnline.com", "Bank of Ghana A brief historical background", "United States dollar (USD) and Ghana cedi (GHS) Exchange Rate History", https://en.wikipedia.org/w/index.php?title=Ghanaian_cedi&oldid=1130677243, GH1, GH2, GH5, GH10, GH20, GH50, GH100, GH200, W. O. II Larbi, Fred Otoo, E. Kwasi Nukpor, Miner, army officer, student, demonstrators, Original source of the above pre-2007 Ghanaian banknotes: https://www.banknotes.com/gh.htm, This page was last edited on 31 December 2022, at 11:32. In the majority of cases, this data is sufficient to predict future changes. Converter X provides up-to-date exchange rates on global currencies based on Open Exchange Rates. A second confiscation took place in 1982, when the 50 note (the highest denomination) was demonetized. which aggregates real-time forex data from the most authoritative sources. We partner with the most popular currency and cryptocurrency data providers worldwide to bring you the most recent quotes for all major cryptocurrencies. The cedi (/sidi/ SEE-dee) (currency sign: GH; currency code: GHS) is the unit of currency of Ghana. 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 up +401.16% Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The word "cedi" derives from the African word for . Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. The high point for the USD/GHS rate 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. Below, you'll find Ghanaian Cedi rates and a currency converter. Using this website, you can find the current exchange rate for the Ghanaian cedi and a calculator to convert from Ghanaian cedis to Dollars. one hundred old pence, so that 1 pesewa was equal to one penny. The African name Cedi (19651967) was introduced in place of the old British pound system. -0.3982. 1 USD in GHS: 10 days history. You won't receive this rate when sending money. 16.59 USD. The. Over the last 30 days, we have recorded a fluctuation index is "very high" and a volatility of 21.69%. The table shows the data and analysis of the variations. These six denominations were still in circulation until 2007. 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. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. 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. The amount is in words: One Million (GHS), One Million Ghanaian cedis 00 pesewas. Over the last 7 days, the best beneficial exchange rate was $127,229,851.58. The new cedi was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. In the majority of cases, this data is sufficient to predict future changes. Click on the drop-downs to select the currencies you want to convert between. It has since lost over 90% of its value. The US Dollar is currently stronger than the Ghanaian Cedi given that 1 USD is equal to 11.790 GHS. Live Currency Rates. Recipient gets (Total after fees) Transfer fee. Our currency converter will show you the current rate and how it's changed over the past day, week or month. [22] Such changes are frequent and are not covered in this list. The table shows the data and analysis of the variations. 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. [12] The exchange rate as of 24October2022[update] was about GH15 per U.S. provides the information in its best way. 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. 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. 4.5/5, 2.2k ratings. . This confiscation was publicly justified as a means to create a disincentive for the flourishing black market. The Ghanaian Cedi is the currency of Ghana. This rate was equivalent to 1 = 0.98U.S. dollars and the rate to the dollar was maintained when sterling was devalued in November 1967. In the last 10 years, the US Dollar is Wise never hides fees in 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.). 5000 . This process ended in 1990 with a free float of the cedi against foreign currencies. 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. 300000 USD = 3,536,905.80 GHS at the rate on 2023-05-02. Our currency converter will show you the current rate and how it's changed over the past day, week or month. 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. 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. Click on the drop-downs to select the currencies you want to convert between. Currency Rate Change; EUR / USD: . 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. And with our daily summaries, youll never miss out on the latest news. Some coins are held back and released years after they are issued. The low point was 7.4527 Ghanaian Cedis per US Dollar on May 3, 2022. Popular US Dollar (USD) Pairings. At the end of December 2007, more than 90% of all old coins and notes had been withdrawn. dollar. [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). 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. 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 300,000 USD = 3,247,283.40 GHS at the rate on 2023-04-08. 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". How to convert US dollars to Ghanaian cedis. purchasing power compared to Ghanaian Cedi over the last 10 years. Wise US Inc is authorized to operate in most states. The government decided to "cut" four zeros off the currency by switching to the third cedi. 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. This chart shows data from 2022-5-2 to 2023-5-1. 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. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to Open Exchange Rates and Over the last 7 days, the best beneficial exchange rate was $84,819.90. [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-). 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. According to the mid-point between the "buy" and "sell" from global currency markets. Exchange rates can fluctuate by the minute while markets are open. The cedi's value continued to be eaten away on the black market. 1 Input your amount. [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]. Inverse: 1,000,000.00 USD = 11,789,686.00 GHS. 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. Also, you can make a reverse calculation and find out the current value of 300000 Cedis in United States Dollars. Check out the market overview -41.27%. 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. 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. 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). In 1979 a currency confiscation took place. Alternatively, you may try converting Ghanaian Cedis to US Dollars. A number of Ghanaian coins have also been issued in Sika denomination, and may have no legal tender status. 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. 1.5 Billion GHS to USD - Ghanaian Cedis to US Dollars. 28.7863. Alternatively, you may try converting US Dollars to Ghanaian Cedis. The new republic's first independent currency was the Ghanaian pound (19581965). More Ghanaian Cedi info. 2 Choose your currencies. 1 US dollar to Ghanaian cedis 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. The Monetaria moneta or money cowry is not native to West African waters but is a common species in the Indian Ocean. Type the amount, select the original currency and the currency to which you want the amount to be converted. Today's Value of 14,000,000 Dollars Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. History. 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. Exchange-rates.org is a currency and cryptocurrency converter tool and data provider used by millions of people across the globe every month. How to convert Ghanaian cedis to US 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. year to date against the Ghanaian Cedi. 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. 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. it into the desired position in your websites HTML source code. [13][14], The Bank of Ghana has been issuing all Ghanaian coins since 1958. Ghana's first President Dr. Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. one hundred old pence, so that 1 pesewa was equal to one penny. DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. provides the information in its best way. You should conduct your own research, review, Sponsored For the basic conversion, we use the midpoint between the buy and sell rates of USD to GHS at currency . Last rates updated 2023-04-29. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. Exchange rate (1 USD GHS) Cheapest. Many other Ghanaians received "promise payment notes" from the banks, but never received compensation. Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more, and see the difference for yourself. Our currency converter will show you the current rate and how its changed over the past day, week or month. The signature on the notes also changes when a new governor takes over the management of the Bank of Ghana. The Bank of Ghana has been issuing all Ghanaian banknotes since 1958. 2 Choose your currencies. However, within months, the second cedi was devalued to a rate of 2.45 = 1stg, less than the initial value of the first cedi. 1.0000 USD = 11.790 GHS May 2, 2023 01:15 AM UTC. Sponsored The first cedi was replaced in 1967 by a "new cedi" which was worth 1.2 first cedis. Inverse: 1,500,000,000.00 USD = 17,684,529,000.00 GHS, Best 1,500,000,000 GHS to USD Exchange Rate. 2000 Euros to US Dollars. The USD/GHS rate is up +56.84%. Click to copy to clipboard. [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. 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. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. Check the latest currency exchange rates for the US Dollar, Ghanaian Cedi and all major world currencies. . 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. Simply type in the box how much you want to convert. Cowries (plural of cowry) were formerly used as currency in what is now Ghana. It was the highest-valued currency unit issued by sovereign countries in Africa in 2007. Every time. DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. We use cookies to personalize content, ads and to analyze our traffic. 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. Current tool convert USD in GHS using live average market currency rates. The fast and reliable converter shows how much you would get when exchanging one million US Dollar to Ghana Cedi. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. Reverse : 1000000 GHS to USD, This website uses cookies to ensure you get the best experience on our website. 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. Our smart tech means were more efficient which means you get a great rate. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to Open Exchange Rates and 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]. = 164,505,460.00 Convert 1000000 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. The currency code for Ghanaian Cedis is GHS. [7], Due to its negligible purchasing power, the one pesewa coin is rarely seen in circulation. 14,000,000.00 . Ghanaians, in theory, could exchange any number of 50 notes for coins or other banknotes without loss, but foreigners could not make any exchange. The first cedi was pegged to sterling at a rate of 2.4cedis = 1pound or 8s 4d per cedi. 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. 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. The USDGHS spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the GHS. Today's Value of 14,000,000 Dollars in Ghana Cedi is 164,505,460 (GHS). Any use of our content is solely at your own risk and discretion. 3.8/5, 90.8k ratings. $1 = 10.82 +0.05 (+0.46%) at the rate on 2023-04-08. One Ghana cedi is divided into one hundred pesewas (Gp). 13.93 USD. 1 Million Won to USD. 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. In 1991, 10, 20, 50, and 100 cedi coins were introduced, followed by 200 and 500 cedis in 1996. According to the mid-point between the "buy" and "sell" from global currency markets. The exchange rate of the United . [10] As of September2022[update], the annual inflation rate of 37.2% as reported by the Ghana Statistical Service was the highest since 2001. The currency code for Cedis is GHS, and the currency symbol is GH. In 2014, the inflation rose rapidly as the value of the third cedi fell to a fourth of its original value. In the second half of 2007 both the second and third cedi were legal tender as the old currency was being gradually withdrawn. Only coins that have been or are in general circulation are included in this list. You should conduct your own research, review, Click on the drop-downs to select the currencies you want to convert between. 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]. You can use this calculator offline while travelling in Ghana. 1 USD . 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. up +18.00% Recipient gets (Total after fees) Transfer fee. for even more real-time currency quotes or try to apply technical analysis tools on interactive charts. 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. This chart will allow users to see the GHS/USD oscillation, and look at last year's data. GHS Don't forget to look at and compare exchange rates from other banks available from 2 sources. Today's Value of 1,000,000 Dollars The currency symbol is GH. Over the last 7 days, the best beneficial exchange rate was 11,942,394.00. The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. [3] From January 2008 old banknotes could only be exchanged at banks and were no longer legal tender. 1.00 US Dollar = 11.78 2487 Ghanaian Cedis 1 GHS = 0.0848717 USD We use the mid-market rate for our Converter.
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