Cedi

From Freepedia

The cedi is the unit of currency of Ghana, Africa. One cedi is divided into one hundred pesewas (although inflation has eliminated subdivisions).

The cedi was introduced in 1965, replacing the pound at a rate of 2.4 cedi = 1 pound, or 1 pesewa = 1 penny. This first cedi was replaced by a second currency, also called the cedi, in 1967. The new cedi was worth 1.2 old cedi, allowing a more straightforward conversion between pound and cedi of 2 new cedi = 1 pound.

Coins currently (2005) used are: 50, 100, 200, and 500 cedi.
Banknotes currently produced are: 1000, 2000, 5000, 10,000 and 20,000 cedi.

In the 1970s, the exchange rate was 1 cedi per US$1. In 1983, the exchange rate fell to 90 cedis per US$1. In 1993, the rate dropped to 720 cedis per US$1. In 2005, the rate has been between 8900 and 9000 cedis per US$1.

The 1000 cedi note was introduced in 1991. 2000 and 5000 cedi notes are also available. The 10,000 and 20,000 cedi notes were introduced in 2002.

The cedi sign has been accepted for encoding in Unicode as U+20B5 in 2004.

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Currencies of Africa
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