Foreign exchange guide to Ghana and the Ghanaian cedi
What's in this Ghana currency guide?
The official currency of Ghana (country code: GH) is the Ghanaian cedi, with symbol ¢ and currency code GHS.
As mentioned above, the Ghanaian cedi is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (GHS) before departure and will need to buy it upon arrival in .
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the GHS you will incur currency conversion or foreign transaction fees if you use a travel money card in .
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
Ghana is a West African country known for its diverse culture, vibrant history, and natural beauty. Visitors can explore the country's rich heritage by visiting historical sites such as the Cape Coast Castle, a former slave trading post, and the Ashanti Kingdom's historic capital of Kumasi. Ghana is also known for its beautiful beaches and national parks, including the Mole National Park, which is home to a wide variety of wildlife including elephants, antelopes and warthogs.
For those interested in culture, Ghana offers a variety of festivals and events throughout the year, including the famous Panafest and the Homowo Festival. Visitors can also experience the country's unique traditional music and dance, and try local dishes such as fufu, a staple made from plantain or cassava, and various stews.
Tourists visiting Ghana should also be aware of the potential for scams, and should exercise caution when interacting with strangers or unfamiliar situations. Additionally, while Ghana is generally considered safe, it is important to be aware of the current security situation and to follow any safety guidelines or advice provided by local authorities.
Overall, Ghana is a fascinating and welcoming destination for travelers with a rich culture, beautiful nature and warm people.
The official currency of Ghana is the Ghanaian cedi (GHS). The cedi is divided into 100 pesewas. Banknotes come in denominations of GH₵1, GH₵2, GH₵5, GH₵10, GH₵20, GH₵50, and GH₵100 and coins in denominations of 1 pesewa, 5 pesewas, 10 pesewas, 20 pesewas and 50 pesewas. It is advisable to have small notes and coins to make small purchases and pay for street vendors. Most places accept credit cards, but it's always good to have cash on hand, as many small businesses and markets do not accept them. It's also worth noting that foreign currency can be exchanged at banks and currency exchange offices, but the exchange rate may not be as favorable as using an ATM.
Traveling in Ghana can be done by various means of transportation, including:
Bus: Bus travel is a popular and affordable way to get around Ghana. Buses run frequently between major cities and towns, and there are also private companies that offer more comfortable and air-conditioned options.
Tro-tro: Tro-tros are shared minibuses that operate on specific routes and are a cheap and efficient way to travel short distances. They are often overcrowded, and the seating arrangements may not be very comfortable.
Taxi: Taxis are widely available in Ghana, but it's best to agree on a fare before starting the journey, as some drivers may overcharge.
Car rental: Car rental is also an option for those who want more flexibility and independence. However, it's important to note that roads can be in poor condition and traffic can be heavy, particularly in the major cities.
Train: Ghana has a limited rail network, which is mainly used for freight transport. However, the Ghana Railway Company Limited operates a passenger service between Accra and Kumasi.
Air travel: There are several domestic airlines that operate flights between major cities and towns in Ghana.
Ghana offers a wide variety of things to see and do for visitors, including:
Cape Coast Castle: This former slave trading post is a UNESCO World Heritage Site and offers a glimpse into the country's dark history. Visitors can take a guided tour of the castle and learn about the history of the transatlantic slave trade.
Ashanti Kingdom's historic capital of Kumasi: This city is considered the cultural heart of Ghana and is home to the Ashanti Kingdom's palace, the Manhyia Palace. Visitors can also see the Ashanti Kingdom's traditional leaders and learn about the Ashanti culture and customs.
Mole National Park: This national park is located in the northern region of Ghana and is home to a wide variety of wildlife, including elephants, antelopes and warthogs. Visitors can go on guided safari tours to see the animals in their natural habitat.
Kakum National Park: This park is known for its canopy walkway, which offers visitors a unique perspective of the rainforest. The park also offers visitors an opportunity to learn about the local culture, as well as the various medicinal plants found in the area
Labadi Beach: This is one of the most popular beaches in Accra, and is a great place to relax, swim, and enjoy local seafood.
Independence Square: This is a historical site in Accra, where Ghana's independence was declared in 1957. The square is surrounded by several important buildings, including the Black Star Gate and the Independence Arch.
Festivals: Ghana is famous for its various festivals and events throughout the year, including the Panafest and the Homowo Festival. These events are a great opportunity to learn about the culture and customs of the local people.
Arts and crafts: Ghana has a rich tradition of art and crafts, and visitors can find a variety of handmade items such as textiles, pottery, and woodcarvings in the local markets and craft shops
It's important to note that the above list is not exhaustive and Ghana offers many more things to see and do.
The domestic currency in Ghana is the Ghanaian cedi.
The three letter currency code for the Ghanaian cedi is GHS — symbol is ¢.
It is the domestic currency in   Ghana.
Yes the Ghanaian cedi is a closed currency. Which means that you may find it difficult to purchase the currency (GHS) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
|$ 1||¢ 12.03|
|$ 5||¢ 60.15|
|$ 10||¢ 120.30|
|$ 20||¢ 240.60|
|$ 50||¢ 601.50|
|$ 100||¢ 1,203|
|$ 250||¢ 3,008|
|$ 500||¢ 6,015|
|$ 1,000||¢ 12,030|
|$ 2,000||¢ 24,060|
|$ 5,000||¢ 60,150|
|$ 10,000||¢ 120,300|
|$ 20,000||¢ 240,600|
|$ 50,000||¢ 601,500|
|$ 100,000||¢ 1,203,000|
|$ 0.0831||¢ 1|
|$ 0.4155||¢ 5|
|$ 0.8310||¢ 10|
|$ 1.6621||¢ 20|
|$ 4.1552||¢ 50|
|$ 8.3104||¢ 100|
|$ 20.78||¢ 250|
|$ 41.55||¢ 500|
|$ 83.10||¢ 1,000|
|$ 166.21||¢ 2,000|
|$ 415.52||¢ 5,000|
|$ 831.04||¢ 10,000|
|$ 1,662||¢ 20,000|
|$ 4,155||¢ 50,000|
|$ 8,310||¢ 100,000|
To get a good (and fair) exchange rate when sending money to Ghana you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Ghana it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Ghanaian cedi deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Ghana.
Ghana is generally considered a safe destination for expats, but like any country, it has its own set of safety concerns. Crime rates are lower than in many other African countries, but petty crime such as pickpocketing and purse snatching can occur in tourist areas and in the capital city, Accra.
It is also important to be aware of the potential for fraud, particularly in business transactions. It's always a good idea to take the usual precautions and to research the specific area you plan to live in before making a move.
It's also important to note that while the country is considered safe, there are some areas that are more dangerous than others. It's important to be aware of the current security situation and to follow any safety guidelines or advice provided by local authorities.
Here we list some key points for expats and businesses to consider when managing financial dealings in Ghana:
Understand Ghanaian cedi currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the GHS exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Ghanaian cedi bank account: A local GHS bank account can make it easier for you to manage your finances and pay bills while you are in Ghana. It may also be more convenient to use a local GHS bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Ghana. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Ghana. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Ghana, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.