Graphic Ghana Month: How did the cedi come about? Bank of Ghana explains

The Ghana cedis and pesewas in your pocket, wallet or bank account are the means through which you can purchase goods and services in Ghana.

As Ghana's legal tender, they also enable you to buy other national currencies through the foreign exchange market to be able to purchase goods and services abroad, among others. 

But how did Ghana settle on the cedi as its national currency and how long has it been in use?

In a write-up to commemorate the 66th anniversary of the cedi, the Bank of Ghana said today's cedi was introduced in 1965 to replace the Ghana pound (£G), which was then the nation's legal tender.

The write-up also traces the various currency reforms that took place in Ghana, starting from 1912.

Click this link to read about the Evolution of the Local Currency Sixty-Six Years after Independence