Ghana Cedis To Naira Exchange Rate Today { Black Market }

Ghana cedis to naira exchange rate today
Ghana Cedis To Naira

Ghana Cedis To Naira Exchange Rate Today { Black Market / Parallel Market Rate & Official Rate }

Tor those asking how much is cedi to naira exchange rate, we at NaijaQuest brings you a daily updated post on the current Ghana Cedis To Naira exchange rate today. Foreign currency exchange rates are not stable and one would need to check for updates frequently as changes occur. The Cedis to Naira exchange rate today is 1 Ghanian Cedi GHC is equivalent to 78 Nigerian Naira NGN { Official Rate }

Ghana Cedis To Naira Exchange Rate Today

  • 1 ghs to ngn : 1 Cedi = 100 Naira { Buy – Black Market Rate / Parallel Market Rate }

  • 1 ghs to ngn : 1 Cedi = 120 Naira { Sell Rate }

Below is a brief about of the Ghanaian Cedi and Nigerian Naira

About The Nigerian Naira

The Nigerian naira is signified with the currency sign: ₦ and currency code: NGN. This is the official currency of Nigeria and a Naira is subdivided into 100 Kobo. The Central Bank of Nigeria (CBN) is the body in charge of issuing the Naira throughout the country.

Ghana cedis to naira exchange rate today
Ghana Cedis To Naira

About The Ghanian Cedi

The Ghanian Cedi is signified with the currency sign: GH₵ and currency code: GHS. This is the official currency of Ghana and one Ghana cedi is divided into one hundred pesewas (Gp). The current Ghanaian Cedi is the fourth and only legal tender in the country.

The exchange rate of 1 Cedi to 78 Naira is not too good and this shows the weakness of the Naira in the international foreign exchange market. Though this doesn’t naturally make the Cedi stronger than the Naira. In foreign exchange the bigger number exchanged with a smaller number doesn’t mean the bigger number is weaker than the currency with a smaller number. First of all the Ghanaian Cedi has been reviewed over the years and the Bank of Ghana have been removing zeros from the back of the currency to make the figures smaller. This is the fourth Ghanaian Cedi so every unit of this Cedi has some invisible Zeros at its back. Anytime inflation levels rise in the country and the exchange rate of the Cedi becomes more embarrassingly high against other foreign currencies, the Bank of Ghana would simply withdraw the Cedi and roll out a new Cedi. This is something similar to what the former Central Bank Of Nigeria Governor Charles Soludo had advised during his time. What really matters in the Foreign currency exchange market is the purchasing power behind each currency. For example 1 Cedi is exchanged for 30 Japanese Yen but you cannot obviously say that means the Cedi is stronger than the Yen as the Yen obviously has a stronger purchasing power.

There you have it Ghana Cedis To Naira Exchange Rate Today { Black Market / Parallel Market Rate & Official Rate } , share your thoughts and suggestions with us through the comment box and like us on facebook @ facebook.com/9jaquest or follow us on twitter @ twitter.com/NaijaQuest.Thanks

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