New cedis

You're referring to the new Ghanaian currency, the Ghana Cedi (GHS). Here are some key facts about the new currency:

Introduction: The new Ghana Cedi was introduced on July 1, 2007, replacing the old Ghanaian Cedi (GHC) at a rate of 1 new Cedi = 10,000 old Cedis.

Denominations: The new Cedi comes in denominations of:

• Coins: 1 pesewa, 5 pesewas, 10 pesewas, 20 pesewas, 50 pesewas, and 1 Cedi
• Banknotes: 50 Cedis, 100 Cedis, 200 Cedis, 500 Cedis, and 1,000 Cedis

Design: The new Cedi features a range of designs, including:

• The national emblem, the Black Star of Africa, on the obverse (front) side of all banknotes
• Images of Ghanaian leaders, such as Kwame Nkrumah and Jerry Rawlings, on some banknotes
• Images of Ghanaian culture, such as traditional clothing and architecture, on some banknotes

Reason for introduction: The introduction of the new Cedi was aimed at addressing the high inflation rate in Ghana, which had eroded the value of the old Cedi. The new currency was designed to stabilize the economy and make it easier for people to conduct transactions.

Impact: The introduction of the new Cedi has had a positive impact on the Ghanaian economy, with inflation rates decreasing and the currency becoming more stable. However, the transition to the new currency also caused some challenges, including the need for businesses and individuals to adapt to the new denominations and exchange rates.