Ghana redenominated its currency on July 3, 2007, replacing the old cedi at a rate of 10,000 to 1 — effectively lopping four zeros off every price in the country. The 1 Pesewa was the smallest unit introduced under this reform, and its copper-plated steel construction reflected both cost constraints and the negligible purchasing power the denomination carried almost immediately after release.
Ghana redenominated its currency on July 3, 2007, replacing the old cedi at a rate of 10,000 to 1 — effectively lopping four zeros off every price in the country. The 1 Pesewa was the smallest unit introduced under this reform, and its copper-plated steel construction reflected both cost constraints and the negligible purchasing power the denomination carried almost immediately after release.