Cedis definitions
| Word backwards | sidec |
|---|---|
| Part of speech | Cedis is a noun. |
| Syllabic division | Ce-dis |
| Plural | The plural of the word "cedi" is "cedis." |
| Total letters | 5 |
| Vogais (2) | e,i |
| Consonants (3) | c,d,s |
When we talk about the currency of Ghana, one of the key terms that often comes up is cedis. The Ghanaian cedi is the official currency of Ghana and has a fascinating history that dates back to colonial times.
The Ghanaian cedi is denoted by the symbol "ยข" and is subdivided into smaller units called pesewas. One cedi is equivalent to 100 pesewas. This currency is managed and issued by the Bank of Ghana, the central bank of the country.
History of Cedis
The name "cedi" is derived from the Akan word for cowry shell, which was formerly used as currency in the region. The modern cedi was introduced in 1965 to replace the Ghanaian pound. Since then, the currency has undergone several re-denominations to manage inflation and stabilize the economy.
Cedi Denominations
The Ghanaian cedi is issued in banknotes and coins of various denominations. Banknotes come in denominations of 1, 2, 5, 10, 20, 50, and 100 cedis. Coins are available in denominations of 1, 5, 10, 20, 50 pesewas, and 1 cedi.
Current Status
As of [Current Year], the Ghanaian cedi remains the official currency of Ghana and plays a crucial role in the country's economy. It is used for everyday transactions, international trade, and as a store of value by the Ghanaian population.
Exchange Rate
The exchange rate of the Ghanaian cedi to other major currencies fluctuates based on various economic factors. It is essential for businesses and individuals engaged in international trade to monitor these exchange rates to make informed financial decisions.
In conclusion, the Ghanaian cedi is not just a unit of currency but a symbol of Ghana's economic history and resilience. As the country continues to grow and develop, the cedi will undoubtedly remain a fundamental aspect of its financial landscape.
Cedis Examples
- I exchanged my dollars for Ghanaian cedis.
- The price of the item is 50 cedis.
- He paid in cedis for the groceries.
- The currency in Ghana is called cedis.
- She received 1000 cedis as a gift.
- The cost of the hotel room is 200 cedis per night.
- I withdrew some cedis from the ATM.
- The taxi fare was 30 cedis.
- They accepted payment in cedis.
- The market vendor quoted a price of 10 cedis for the fruit.