18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
16/09/2019: Ghana Goes Cashless
The government launched the Ghana.Gov payment platform, aimed at promoting electronic payments and reducing cash transactions.
05/07/2012: GHS Symbol Change
The Bank of Ghana introduced a new currency symbol for the cedi, changing it from GHȼ to GHS.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
03/07/2007: Decimals Dropped
The Bank of Ghana dropped four decimal places, making 1 new Ghanaian cedi = 1 GHȼ.
01/07/2002: Replacement of New Cedi
The new Ghanaian cedi, denoted as GHC, replaced the second cedi at a rate of 1 cedi = 10,000 cedis.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
17/07/1978: Second Cedi Introduced
Due to high inflation, the second Ghanaian cedi was introduced with a new currency code, GHS.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
19/07/1965: Cedi Introduced
The Ghanaian pound was replaced by the Ghanaian cedi at a rate of 1 pound = 2.4 cedis, symbolizing economic independence.
06/03/1957: Ghana's Independence
Ghana gained independence from British colonial rule, leading to the introduction of the Ghanaian pound as its currency.