The Ghanaian Cedi (GHS) is the official currency of Ghana. Whether you are relocating, visiting, or investing, understanding Ghana’s money system will help you manage your expenses and avoid confusion during your stay. This guide explains the Cedi’s value, what the banknotes look like, where to exchange money safely, and how mobile payments are changing daily transactions in Ghana.
Understanding the Ghanaian Cedi
The Ghanaian Cedi is issued and regulated by the Bank of Ghana. It is represented by the symbols “₵” or “GH₵.” One cedi equals 100 pesewas. As of late 2025, the exchange rate averages around 1 USD to 15 GH₵, although this can fluctuate with global market trends.
Cash remains the dominant payment method across Ghana, but credit cards and mobile payments are gaining popularity in cities such as Accra and Kumasi. Visitors should plan to use a combination of cash and mobile money for convenience.
What Ghanaian Banknotes Look Like
Ghana’s currency is colorful and features national heroes, historic landmarks, and symbols of progress. Each denomination has its own size and color, making it easy to tell apart.
| Denomination | Main Color | Front Design | Back Design |
|---|---|---|---|
| ₵1 | Brown | The Big Six | Education and development theme |
| ₵2 | Green | The Big Six | Cocoa industry and trade |
| ₵5 | Blue | Dr. Kofi Annan | United Nations Headquarters |
| ₵10 | Red | The Big Six | Bank of Ghana building |
| ₵20 | Gold | The Big Six | Accra Central Business District |
| ₵50 | Purple | The Big Six | Independence Arch |
| ₵100 | Orange | The Big Six | Ghana Cocoa Board |
| ₵200 | Gray | The Big Six | Jubilee House (Presidential Palace) |
Each note includes advanced anti-counterfeit measures such as metallic threads, transparent windows, and watermarks featuring Tetteh Quarshie. The designs reflect Ghana’s history, unity, and economic growth.
Coins in Circulation
Ghana also issues coins for smaller transactions. Common coins include 10 pesewas, 20 pesewas, 50 pesewas, ₵1, and ₵2. Smaller coins are becoming less common, especially in urban areas where prices are rounded up to the nearest cedi.
- 10p, 20p, 50p — Copper-colored coins used mainly in markets or local shops.
- ₵1 and ₵2 — Bimetallic coins used for short trips, snacks, or small purchases.
Coins are convenient for small payments such as trotro fares, bottled water, or public restrooms, but most residents rely on paper bills for daily spending.
How to Exchange Currency Safely
Foreigners can exchange currency at banks, licensed forex bureaus, or major hotels. Always avoid unlicensed street exchangers, as counterfeit bills can circulate through informal channels.
- Bring crisp, newer U.S. dollar bills printed after 2013; older or torn notes may be rejected.
- Check daily rates on the Bank of Ghana’s official exchange rate page.
- Keep receipts from forex bureaus in case you need to reconvert money before leaving Ghana.
Exchange rates vary between locations, so compare rates before converting large amounts. Most forex bureaus in Accra and Kumasi offer reliable and competitive services.
Mobile Money in Ghana
Ghana is one of Africa’s leaders in digital finance. Mobile money, often called “MoMo,” allows users to send, receive, and store funds securely through mobile phones. It operates independently of traditional banks, making it accessible to nearly everyone.
The three main mobile money services are MTN MoMo, Vodafone Cash, and AirtelTigo Money. Even small vendors, taxi drivers, and street food sellers accept MoMo payments. To use it as a visitor, you only need a local SIM card, a valid ID, and an initial deposit at a vendor kiosk.
Mobile money has become a cornerstone of financial inclusion in Ghana and continues to expand to bill payments, utilities, and e-commerce transactions.
Practical Money Tips for Visitors
- Carry smaller notes for local transport, markets, and restaurants.
- ATMs are widely available but can run low on cash during weekends or holidays.
- Credit cards are accepted in hotels, malls, and restaurants, but not in rural towns.
- Count your change carefully and keep cash in secure pockets when traveling.
- Exchange small amounts at a time to reduce risk of loss or currency fluctuations.
Frequently Asked Questions
Can I use U.S. dollars in Ghana?
In some tourist areas and hotels, yes, but exchanging to Ghanaian cedis gives better value.
Can foreigners open bank accounts in Ghana?
Yes. Most banks allow foreigners to open accounts with valid identification, proof of address, and a Tax Identification Number (TIN).
How much cash should I carry daily?
₵200 to ₵400 per day is usually enough for meals, local transport, and small purchases.
All money transfer services must be licensed by the Bank of Ghana.
