GHC

DEFINITION of 'GHC'

The currency abbreviation for the Ghanaian cedi - the official currency of the Republic of Ghana. The GHC was introduced on July 3, 2007. The word "cedi" derives from the African word for cowry shell, which was a prior form of Ghanian currency. Banknotes are issued in 1, 5, 10, 20 and 50 denominations. The currency is overseen and issued by the Bank of Ghana.

BREAKING DOWN 'GHC'

The current cedi is a redenominated form of a previous old cedi, which was a replacement for an older cedi that was in use between 1965 and 1967. In 1957, Ghana became the first Sub-Saharan African country to achieve independence from the United Kingdom.

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