Historic Chinese Yuan Renminbi Ghana Cedi

Chinese Yuan Renminbi ghana cedi history since 22/11/2024 until today (0 years). Search for CNY to GHS exchange rate history for a particular date, month or year.

The Chinese Yuan Renminbi is the currency of China (supplied by People's Bank of China and the currency supplied by Bank of Ghana. The CNY GHS historical data can be seen on the Chinese Yuan Renminbi ghana cedi historical chart.

16/09/2019: Ghana Goes Cashless

The government launched the Ghana.Gov payment platform, aimed at promoting electronic payments and reducing cash transactions.

29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket

The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.

05/07/2012: GHS Symbol Change

The Bank of Ghana introduced a new currency symbol for the cedi, changing it from GHȼ to GHS.

18/06/2009: Resumption of Renminbi Appreciation

China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.

03/07/2007: Decimals Dropped

The Bank of Ghana dropped four decimal places, making 1 new Ghanaian cedi = 1 GHȼ.

20/07/2005: Introduction of Managed Float

China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.

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.

31/12/1993: Renminbi Pegged to US Dollar

China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.

31/12/1992: Introduction of Dual Currency System

China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.

17/07/1978: Second Cedi Introduced

Due to high inflation, the second Ghanaian cedi was introduced with a new currency code, GHS.

14/08/1971: End of the Bretton Woods System

The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.

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.

14/12/1948: Formation of the People's Bank of China

The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.