1 US dollar = 3.3525 Ghanaian cedis

1 US dollar = 161.4000 Nigerian nairas

Please does this means Ghanaian money value is more higher. Pls help o

Yes. Since the Ghanaian Central Bank redenominated the Cedi, it has had more value than the Naira
1 GHC i is about the equivalent of 110 NGN.

And you call that one value..? Didnt think so..

It's not calculated that way@ OP

It's calculated according to the purchasing power of the currency.

Post this in business section, Enonomists will shade more light.

What CBG(Central Bank of Ghana) did is very simple nd any country can easily do it in a night..

CBN can introduce a new currency e.g 500naira = 1 Nig Naira..
This has nothing to do wit economy..it is jst to control big numbers nd names..

Last bullet, Nigeria Naira has value more than Ghana Cedis

Lol no... Naira is still more powerful..


What Ghana did s just removing the large number of zeros from their currency. It doesn't mean the currency has suddenly become powerful.


Let's say they redenominate 1000cedis to 1cedi
It means whatever they use to buy at the rate of 1000cedis b4 now goes for 1cedi

E.g if a loaf of bread costs 1000cedis b4 after the rede nomination, the same bread will go for 1cedi.

I call it money rebranding. You know, same product but different name.



Anyway, what determines the power of currency is the economy and purchasing power .