16/09/2019: Ghana Goes Cashless
The government launched the Ghana.Gov payment platform, aimed at promoting electronic payments and reducing cash transactions.
15/08/2018: Elections and Political Uncertainty
The Real experienced significant volatility leading up to the Presidential elections, responding to political developments and market sentiment.
22/01/2015: Real Hits 10-Year Low
The Real reached its lowest level against the US dollar in a decade, primarily due to a decline in commodity prices and economic concerns.
05/07/2012: GHS Symbol Change
The Bank of Ghana introduced a new currency symbol for the cedi, changing it from GHȼ to GHS.
15/09/2008: Global Financial Crisis Impact
As a consequence of the global financial crisis, the Brazilian Real faced a sharp depreciation against major currencies due to capital outflows and risk aversion.
03/07/2007: Decimals Dropped
The Bank of Ghana dropped four decimal places, making 1 new Ghanaian cedi = 1 GHȼ.
27/07/2005: New Currency Symbol
The Central Bank of Brazil announced a public competition to select a new currency symbol, which resulted in the adoption of the official symbol for the Real.
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.
18/06/2002: Exchange Rate Floatation
The Brazilian government allowed the Real to float freely against other currencies, abandoning the controlled exchange rate regime.
15/01/1999: Devaluation of the Real
Due to the Russian financial crisis and the Asian financial crisis, the government devalued the Real by around 8% to boost exports and stimulate the economy.
01/07/1994: Introduction of the Real Plan
The Brazilian real was established as the official currency, replacing the hyperinflation-ridden Cruzeiro Real. It aimed to stabilize the economy and combat inflation.
17/07/1978: Second Cedi Introduced
Due to high inflation, the second Ghanaian cedi was introduced with a new currency code, GHS.
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.