01/01/2021: End of Monetary Dualism
The Cuban government completed the currency unification process, eliminating the convertible peso (CUC) and establishing a single currency system with the Cuban peso (CUP).
16/09/2019: Ghana Goes Cashless
The government launched the Ghana.Gov payment platform, aimed at promoting electronic payments and reducing cash transactions.
20/12/2013: Currency Unification Implementation
The Cuban government officially started the process of currency unification, gradually phasing out the convertible peso (CUC) and improving monetary policy.
05/07/2012: GHS Symbol Change
The Bank of Ghana introduced a new currency symbol for the cedi, changing it from GHȼ to GHS.
25/10/2011: Currency Unification Announced
The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.
03/07/2007: Decimals Dropped
The Bank of Ghana dropped four decimal places, making 1 new Ghanaian cedi = 1 GHȼ.
08/12/2004: Elimination of US Dollar Circulation
The Cuban government announced the withdrawal of the US dollar as legal tender and introduced the convertible peso (CUC) as a replacement.
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.
07/12/1994: Dollarization Decree
Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.
01/08/1994: Special Period
The Cuban economy faced a severe crisis due to the collapse of the Soviet Union, leading to currency devaluation and economic reforms.
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.
01/01/1961: Nationalization of Banks
The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.
06/03/1957: Ghana's Independence
Ghana gained independence from British colonial rule, leading to the introduction of the Ghanaian pound as its currency.