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.
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
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.
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
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.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.