The Cedi
The name"cedi" was derived from the word"sedie" meaning cowrie, a shell money wich gain popularity and wider circulation in the later part of the 19th century. The"pesewas" represented the smallest denomination (quantity) of the gold_dust currency regime. The name was chosen to replace the British Colonial penny. Prior to the independency, the issue of the currency was the responsibility of the West African currency board (WACB). The West African Currency Pounds, Shillings and Pence, constituted by the board and was in circulation in Ghana until July 1558. After indepence, the new monetary authority. The Bank of Ghana, issued it's own currency in the form of Ghana Pounds, Shillings and Pence on 14th July, 1858. With that issue, the Bank of Ghana formally took over the issue of currency notes and coins from the West African currency Board (WACB). Please like and share
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