What's the Currency in Ghana? (2024)

The currency in Ghana is the cedi. As the official legal tender in Ghana, the cedi is officially recognized by the Ghanaian government, meaning you can use it to settle all financial obligations in the country, including paying for goods, services, taxes, and debts.

Besides the cedi, no other currency is officially accepted in Ghana.

There are a couple of reasons why you might be interested to find out the currency in Ghana. Click on the reason that best applies to you below to find out more:

1. I'm travelling to Ghana
2. I'm sending money to Ghana
3. I want to follow the cedi exchange rate
4. I'm just curious

Travelling to Ghana

With its different currency, banking system, and money customs, figuring out the best way to pay in Ghana if you travel there can be tricky. Fortunately, many forms of payments have become ubiquitous around the globe, including:

• Credit cards: Cards from VISA and Mastercard are accepted in Ghana, especially in touristy establishments.
• Debit cards: Debit cards linked to your bank account let you make purchases at point-of-sale terminals and withdraw cash.
• Cash: Having some cedi banknotes could help for small purchases, tipping, and emergencies. You can typically exchange currency at a bank or exchange bureau before or upon arrival.
• Mobile payments: Mobile payment services like Apple Pay, Google Pay, or Alipay are an increasingly popular way to pay, but you'll need to check beforehand how available these methods are in Ghana.
• Prepaid travel cards: A reloadable debit card with a cedi balance can give you good value, security, and convenience.

Of these methods, using a prepaid travel card is almost always the best way to pay in Ghana because they generally incur lower fees on cedi currency exchange than credit cards or bank debit cards do. Moreover, many prepaid travel cards let you hold multi-currency balances, allowing you to dodge DCCs and other sneaky fees while travelling — all while providing the same level of security and convenience as you're used to from your credit or debit card!

Depending on where you're from, you may be able to find a prepaid travel card from your bank. Still, we recommend using a global provider like Revolut because it offers excellent exchange rates, multi-currency balances, and a travel debit card that allows you to spend on your holiday like a local and enjoy peace of mind after each tap, swipe, or cash withdrawal.

Revolut is only available in the United States, the United Kingdom, the EU/EEA, Australia, Japan, Singapore, Azerbaijan, Sri Lanka, Brazil, and Chile. If you live in Canada or New Zealand, the Wise Account is another excellent option to consider. If you're from any other country, we recommend checking out what multi-currency cards are available in your country or whether your bank offers any similar products.

Sending Money to Ghana

Every year, many people send money to Ghana for all kinds of reasons. These include supporting friends or family, paying for someone's tuition, settling business transactions, purchasing or upgrading property, and many others. If you want to send an international money transfer to a cedi bank account in Ghana, then you should be aware of the high fees and exchange rates that go along with global money transfers with your international bank (these fees often constitute more than 10% of your transfer amount — you can read all about this in our dedicated explainer here).

Fortunately, international money transfers are a competitive market with many trustworthy alternative providers jostling to offer you the best exchange rates (rates which almost always far outdo those you'll find at the bank!). However, because the cheapest provider to send money abroad differs depending on factors such as where you're sending from, the amount you're sending, the payment method and others, we recommend skipping the hassle and finding the cheapest provider in real time with Monito's live comparison tool below 👇

Find the best deal when sending money to Ghana:

Ghanaian Cedi Exchange Rates

The cedi is one of around 180 currencies worldwide. This means that the cedi trades against all other official currencies around the globe, giving us exchange rates: a measure of how much of one currency we can exchange for another.

Exchange rates can fluctuate over time due to various economic, political, and market factors. A higher exchange rate means that the value of one currency has increased compared to another, while a lower exchange rate means the opposite. Exchange rates are essential when travelling to, buying goods and services from, or sending money to Ghana.

With Monito's currency pages, you can follow the live exchange rate to the cedi, see which providers offer the best deals, and set up smart email alerts to follow fluctuations:

You can also use the above tool to enter your currency to see its exchange rate with the cedi or set up email alerts to be notified when the exchange rate passes a certain value.

Find a country you're interested in in the table below:

See if you need to take out cash to give tips during your travels abroad: