1 Million USD to GHS - US Dollars to Ghanaian Cedis. The change also provided an opportunity to remove Kwame Nkrumah's image from coins and notes. This fear, along with inflation running at about 100% annually, started causing Ghanaians to lose their faith in their country's own currency. Check out the market overview 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. British pounds sterling to Ghanaian cedis - Wise 14 Million USD to GHS. 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 . The low point was 7.4527 Ghanaian Cedis per US Dollar on May 3, 2022. Inverse: 1,500,000,000.00 USD = 17,684,529,000.00 GHS, Best 1,500,000,000 GHS to USD Exchange Rate. History. You can get live exchange rates between US Dollars and Ghanaian Cedis using exchange-rates.org, The government decided to "cut" four zeros off the currency by switching to the third cedi. 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. Inverse: 1,000,000.00 USD = 11,789,686.00 GHS. Simply enter the amount of USD you want to convert to GHS in the box labeled "Amount", and youre done! 100 US Dollars = 1,178.97 Ghanaian Cedis as of May 2, 2023 1:15:00 AM UTC. At the end of December 2007, more than 90% of all old coins and notes had been withdrawn. 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. New banknotes were issued which were exchanged for old ones at a rate of 10 old notes for 7 new ones. Convert 1000000 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. In the majority of cases, this data is sufficient to predict future changes. 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. CFA Franc to Ghanaian Cedi Exchange Rate Chart | Xe 1 Million USD to GHS - US Dollar to Ghana Cedi - Currency Converter X Check send rates Ghanaian Cedi to US Dollar conversion Last updated Apr 30, 2023, 10:48 UTC Convert Ghanaian Cedi to US Dollar Today's Value of 1,000,000 Dollars Our currency converter is simple to use and also shows the latest currency rates. The current exchange rate is equivalent to 11.7897. 1 US Dollar = 11.790 Ghanaian Cedis as of May 2, 2023 1:15:00 AM UTC. In 2014, the inflation rose rapidly as the value of the third cedi fell to a fourth of its original value. The cedi's value continued to be eaten away on the black market. Type the amount, select the original currency and the currency to which you want the amount to be converted. The word "cedi" derives from the African word for . 1 USD in GHS: 10 days history. up +18.00% 300000 United States Dollars (USD) to Ghana Cedis (GHS) today 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. According to the mid-point between the "buy" and "sell" from global currency markets. Currency Rate Change; EUR / USD: . 16.59 USD. The current exchange rate is equivalent to 0.0848. Also, you can make a reverse calculation and find out the current value of 300000 Cedis in United States Dollars. For the basic conversion, we use the midpoint between the buy and sell rates of USD to GHS at currency exchanges across the globe. Click to copy to clipboard. one hundred old pence, so that 1 pesewa was equal to one penny. The porcelain-like shells came to West Africa, beginning in the 14th century, through trade with Arab merchants. Some coins are held back and released years after they are issued. Be on the lookout for any changes, ready up-to-date. The African name Cedi (19651967) was introduced in place of the old British pound system. Today's Value of 1,000,000 Dollars in Ghana Cedi is 10,750,057 (GHS). 14 Million USD to GHS - 14000000 Dollars to Ghana Cedi This process ended in 1990 with a free float of the cedi against foreign currencies. 28.7863. Live Currency Rates. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. The signature on the notes also changes when a new governor takes over the management of the Bank of Ghana. DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. 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. Every time. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to Open Exchange Rates and Banks and other transfer services have a dirty little secret. Popular US Dollar (USD) Pairings. One Ghana cedi is divided into one hundred pesewas (Gp). Recipient gets (Total after fees) Transfer fee. Convert United States Dollar To Ghanaian Cedi - Forbes Existing 1 and 2 cedi banknotes remain legal tender, though these denominations will be gradually replaced by coins to reduce costs. They add hidden markups to their exchange rates - charging you more without your knowledge. Find out the best rate in banks for GHS/USD exchange rates below. = 11,750,390.00 1 GH = 100 pesewa Symbol GH The cedi is the unit of 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. Simply type in the box how much you want to convert. [10] As of September2022[update], the annual inflation rate of 37.2% as reported by the Ghana Statistical Service was the highest since 2001. 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 The exchange rate used for the USD/GHS currency pair was : 10.75. Today's Value of 14,000,000 Dollars It has since lost over 90% of its value. 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 gained Convert 1 US Dollar to Ghana Cedi using latest Foreign Currency Exchange Rates. 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 new cedi was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. Last rates updated 2023-04-29. You should conduct your own research, review, 1,000,000.00 For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. [7], Due to its negligible purchasing power, the one pesewa coin is rarely seen in circulation. Set an alert now, and well tell you when it gets better. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. The first cedi was introduced in 1965, replacing the pound at a rate of 2.4cedi = 1pound, or 1pesewa = 1penny. You should conduct your own research, review, GHS | Ghanaian New Cedi | OANDA Exchange-rates.org is a currency and cryptocurrency converter tool and data provider used by millions of people across the globe every month. Check the latest currency exchange rates for the US Dollar, Ghanaian Cedi and all major world currencies. Ghana: oil contribution to GDP 2014-2024 | Statista Current conversion is actual and use latest exchange rate of United States Dollar and Ghanaian Cedi currencies. GHC (Ghanaian Cedi) Definition - Investopedia 1 Input your amount. Click on the drop-downs to select the currencies you want to convert between. one hundred old pence, so that 1 pesewa was equal to one penny. 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". it into the desired position in your websites HTML source code. This chart will allow users to see the USD/GHS oscillation, and look at last year's data. For the basic conversion, we use the midpoint between the buy and sell rates of GHS to USD at currency exchanges across the globe. This means the US Dollar has increased in value compared to the Ghanaian Cedi. 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. Select the period for plotting the chart. Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. 1 Million Won to USD. [13][14], The Bank of Ghana has been issuing all Ghanaian coins since 1958. analyse and verify our content before relying on them. The symbol for the currency is "GH", used as a prefix. The USDGHS spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the GHS. 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. To add USD to GHS #widget to your website, you simply need to copy the code below and paste The cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. 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. 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. 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. 2 Choose your currencies. 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. The GHC was introduced on July 3, 2007. The second cedi was initially pegged to sterling at a rate of 2 = 1stg. This allowed a decimal conversion with the pound, namely 2 second cedis = 1 pound. The Bank of Ghana has been issuing all Ghanaian banknotes since 1958. The cedi (/sidi/ SEE-dee) (currency sign: GH; currency code: GHS) is the unit of currency of Ghana. The Monetaria moneta or money cowry is not native to West African waters but is a common species in the Indian Ocean. [6] The devaluation was temporarily halted in the last quarter of 2014 as the currency stabilized due to a pending IMF bailout of Ghana. [12] The exchange rate as of 24October2022[update] was about GH15 per U.S. [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]. 13.93 USD. The exchange rate used for the USD/GHS currency pair was : 11.75. However, many Ghanaians who were hoarding large amounts of cedis feared reprisal if they tried to convert all of it, and so simply burned a lot of their money. in Ghana Cedi is 11,750,390 (GHS). Simply type in the box how much you want to convert. 10 Million USD to GHS - US Dollar to Ghana Cedi - Currency Converter X -1.36%. for even more real-time currency quotes or try to apply technical analysis tools on interactive charts. up +401.16% -0.3982. . 1.00 US Dollar = 11.78 2487 Ghanaian Cedis 1 GHS = 0.0848717 USD We use the mid-market rate for our Converter. [22] Such changes are frequent and are not covered in this list. The Ghanaian cedi (ISO code: GHS), is the official currency of Ghana. Our currency converter will show you the current rate and how it's changed over the past day, week or month. 2 Choose your currencies. Using this website, you can find the current exchange rate for the Ghanaian cedi and a calculator to convert from Ghanaian cedis to Dollars. . Conversely, 1 GHS is worth 0.08482 USD. . 300,000 USD = 3,247,283.40 GHS at the rate on 2023-04-08. , Feb 2, 2023. 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]. In the last 10 years, the highest rate from US Dollars to Ghanaian Cedis was on November 28, 2022 when each US Dollar was worth GH14.627. 10 Million Won to USD. 3 That's it. USD to GHS Convert US Dollars to Ghanaian Cedis - Exchange-Rates.org You won't receive this rate when sending money. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. 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. And with our daily summaries, youll never miss out on the latest news. The table shows the data and analysis of the variations. You can convert US Dollars to Ghanaian Cedis by using the exchange-rates.org currency converter in just one easy step. against the Ghanaian Cedi. Over the last 7 days, the best beneficial exchange rate was $84,819.90. 11537.02 GHS Save up to 419.51 GHS. Simply type in the box how much you want to convert. 10 US dollars to Ghanaian cedis Exchange Rate. Convert USD/GHS - Wise This chart will allow users to see the GHS/USD oscillation, and look at last year's data. A year ago today, on this day, they provided the equivalent of 1,000,000.00 ghanaian cedis for $133,029.76 us dollars, which is $48,209.86 more than it is now. 5000 . Further pegs were set of $0.55 in 1971, $0.78 in 1972, and $0.8696 in 1973 before the currency was floated in 1978. The fast and reliable converter shows how much you would get when exchanging one million US Dollar to Ghana Cedi. Dollar (USD) to Ghanaian cedi (GHS) Currency Converter In 1979 a currency confiscation took place. Weve been featured in some of the most reputable financial publications in the world, including Business Insider, Investopedia and Coindesk. 3.8/5, 90.8k ratings. The USD/GHS rate is up +56.84%. The US Dollar is currently stronger than the Ghanaian Cedi given that 1 USD is equal to 11.790 GHS. 11.7000 Mid-market rate. According to the mid-point between the "buy" and "sell" from global currency markets. Online interactive currency converter & calculator ensures provding actual conversion information of world currencies according to Open Exchange Rates and Wise never hides fees in the exchange rate. The currency code for Ghanaian Cedis is GHS. 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.). A number of Ghanaian coins have also been issued in Sika denomination, and may have no legal tender status. Currency Information. Also, its best to convert US Dollars to Ghanaian Cedis early in the week if you need Ghanaian Cedis urgently. USD Alternatively, you may try converting Ghanaian Cedis to US Dollars. Simply type in the box how much you want to convert. 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. We partner with the most popular currency and cryptocurrency data providers worldwide to bring you the most recent quotes for all major cryptocurrencies. 1.5 Billion GHS to USD - Ghanaian Cedis to US Dollars In the majority of cases, this data is sufficient to predict future changes. 1.0000 USD = 11.790 GHS May 2, 2023 01:15 AM UTC. In the last 10 years, the US Dollar is 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. After independence, Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. 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. Cowries (plural of cowry) were formerly used as currency in what is now Ghana. Today's Value of 1,000,000 Nigerian Naira in Ghana Cedi is 25,514.91 (GHS). Over the last 30 days, we have recorded a fluctuation index is "very high" and a volatility of 21.69%. Reverse : 14000000 GHS to USD, This website uses cookies to ensure you get the best experience on our website. [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. And if they have a fee, they charge you twice. Alternatively, you may try converting US Dollars to Ghanaian Cedis. Get in touch with us now. 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. The. Exchange rate (1 USD GHS) Cheapest. 1 Million USD to GHS - US Dollars to Ghanaian Cedis [citation needed]. GHS 300000 USD = 3,536,905.80 GHS at the rate on 2023-05-02. which aggregates real-time forex data from the most authoritative sources. The new republic's first independent currency was the Ghanaian pound (19581965). Coins and bank accounts were unaffected. Sponsored Our currency rankings show that the most popular Ghanaian Cedi exchange rate is the GHS to USD rate. Youll now see the value of the converted currency according to the most recent exchange rate. 1 Million GHS to USD - Ghanaian Cedis to US Dollars In the majority of cases, this data is sufficient to predict future changes. = 164,505,460.00 [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-). 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. The currency converter shows the conversion of 1 US Dollars to Cedis as of today price. 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. In the early 1980s, the government started cracking down hard on the retail of products at prices other than the official established sale price (also known as price controls). Ghanaian Cedi. 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). The exchange rate of the United . The US Dollar is 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. 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. 1 thousand US dollars to Ghanaian cedis - Wise Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. 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. How to convert US dollars to Ghanaian cedis. Be on the lookout for any changes, ready up-to-date. 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. While the USDGHS spot exchange rate is quoted and exchanged in the same day, the USDGHS forward rate is quoted today but for delivery and payment on a specific . It was the highest-valued currency unit issued by sovereign countries in Africa in 2007. DISCLAIMER: All content provided herein our website is for your general information only, procured from third party sources. 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. Current tool convert USD in GHS using live average market currency rates. [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). provides the information in its best way. Convert USD/GHS - Wise US dollars 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 11:47 UTC Track the exchange rate Send money The safe and easy way to exchange your money For the basic conversion, we use the midpoint between the buy and sell rates of USD to GHS at currency . The third Cedi has been losing value continuously since it was introduced. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Converter X provides up-to-date exchange rates on global currencies based on Open Exchange Rates. Exchange-Rates.org 2023 MBH Media, Inc. US dollars to Ghanaian cedis Exchange Rate. Our currency converter will show you the current rate and how it's changed over the past day, week or month. 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. In 1991, 10, 20, 50, and 100 cedi coins were introduced, followed by 200 and 500 cedis in 1996. Below, you'll find Ghanaian Cedi rates and a currency converter. 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. The word cedi is derived from the Akan word for cowry shell which were once used in Ghana as a form of currency. Compared to yesterday, the cost 1,000,000 of the cedis remains unchanged. These six denominations were still in circulation until 2007. Ghanaian Cedi 2023 Data - 2007-2022 Historical - TRADING ECONOMICS Reverse : 1000000 GHS to USD, This website uses cookies to ensure you get the best experience on our website. The table shows the data and analysis of the variations. The currency symbol is GH. Wise US Inc is authorized to operate in most states. Don't forget to look at and compare exchange rates from other banks available from 2 sources. 1 US Dollar = 11.776 Ghanaian Cedis as of May 1, 2023 5:10:00 AM UTC. However, the 10 cedis (~0.1 U.S. cents) and 20 cedis (~0.2 U.S. cents) coins were not seen much due to their small value. Only coins that have been or are in general circulation are included in this list. Over the last 7 days, the best beneficial exchange rate was $127,229,851.58. The exchange rate used for the NGN/GHS currency pair was : .026. Over the last 7 days, the best beneficial exchange rate was 11,942,394.00.