Money
The local unit of currency is the Ghana Cedi (SEE-dee) and Pesewah. A Ghana Cedi is valued at a a bit less than the US dollar (1 cedi = $0.66). Be sure to check the current exchange rate before traveling.
An important note to returning volunteers:
On January 1, 2008 the old cedis went out of circulation and the new Ghana Cedi became the new currency at the new exchange rate (no more 13,000 cedis = $1). If you have old cedis from pre-2008 they are no longer accepted.
You can get money exchanged in Accra and other major cities. You will get better exchange rates for the larger bills (i.e. $50 & $100), and they do need to be the newer bills with the larger faces on them. Travelers cheques can also be exchanged but at a slightly lower rate.
In Accra and a few other major cities in southern Ghana, ATMs are available at banks. Check with your bank and the ATM you are using to find out about any fees you may incur using your card overseas and to withdraw money in a different currency.
We advise that you go ahead and exchange money at the airport upon arrival. The exchange booth is in the arrival hall where you collect your luggage.
IMPORTANT: You may no longer write a personal check to our business facilitator in Accra. You can give him US cash and be given Ghanaian money in exchange. However, the airport exchange rate may be more favorable than the mission rate (especially when you exchange larger bills as mentioned above).
Credit cards have very limited usefulness here, even in the cities. The nicer hotels and restaurants will accept them but often charge extra fees for credit card use. Nowhere north of Kumasi is a credit card good for anything. It’s okay to bring one, just don’t count on being able to use it.
If you will be here for several months or more, be sure that there is a family member at home who has agreed to keep up with your bank account and has the authority to withdraw money in case of an emergency.
