In which African country does 100 pesetas equal 1 cedi?
Ghanaian cedi devalued the new cedi, it was gradually phased out in 2007 in favor of the "Ghana cedi" at an exchange rate of 1:10,000. In 2007 the largest of the new cedi banknotes, the 20,000 note, had a value of about US$2. By removing four digits, the Ghana cedi became the highest-denominated currency unit issued in Africa. It has since lost about 80% of its value. The word "cedi" is the Akan word for cowry shell which were formerly used as currency in what is now Ghana. The "Monetaria moneta" or money cowry is not native to West African waters but
Ghanaian cedi 2.4 cedis = 1 pound. The first cedi was replaced in 1967 by a "new cedi" which was worth 1.2 first cedis. This allowed a decimal conversion with the pound, namely 2 second cedis = 1 pound. The change also provided an opportunity to remove Kwame Nkrumah's image from coins and notes. The second cedi was initially pegged to the British pound at a rate of 2 cedi = 1 pound. However, within months, the second cedi was devalued to a rate of 2.45 second cedi = 1 pound, less than the value of the first cedi. This rate was