Old Money or New Money
In a quest to reduce the bulkiness of the country’s currency, The Bank of Ghana embarked on a redenomination exercise that converted 100 cedis to 1 Ghana pesewa and 10,000 cedis to 1 Ghana cedi.
The present cedi is equal to 10,000 old cedi and remonetisation saw four zeros lopped off the value. Yet, on the street, the nostalgia still lives on with traders, fish sellers and bus conductors still quoting prices in the old currency.
Link to Voices of Africa article.
So be aware when catching a taxi to your favourite haunt and the driver says your fare is 15,000 cedis…
