Thursday, January 10, 2008

Brief post

The currency has officially been changed. As of January 1, the Ghana Cedi is the official currency of Ghana. This change has been a gradual one but it still makes a big difference for farmers and market workers.

The change is as follows.

Cedi (old denominations)
Coins worth 50, 100, 200 and 500 cedis (10,000 cedis equal 1 Ghana Cedi)
Notes worth 1000, 2000, 5000, 10,000 and 20,000 cedis

Ghana Cedi
Coins (1, 5, 10, 20, 50 Ghana Pesewas)
Notes (1, 5, 10, 20, 50 Ghana Cedis)

It is very hard to find 1 pesewa coins so those items that used to cost 400 cedis will now be 5 pesewas. Those that were 1300 will likely be 15 pesewas etc.

As you can imagine, buying a television or refrigerator when the largest note is the equivalent of $2 is difficult. On the other hand, when you make a living my selling items that cost 300 cedis or 3 Ghana Pesewas, your daily life is drastically altered.

Thats all for now.

Love to all!

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