GHANA MONEY

david lee 1 · 2015-04-23T03:37:52+02:00

Just wondered if your money is tied to the US dollar , I notice some prices are shown in the US dollar and some in GHS. I understand when you exchange only GHS is accepted in Ghana. this is hard to understand,when the exchange rate changes does all the prices go up in Accra to reflect the change like rent.? and food .

david lee 1 Active member

Member since 31 January 2012

david lee 1Active member23 April 2015 01:37:52

Just聽 wondered if your money is聽 tied to the US聽 dollar ,聽 I notice some prices are shown in the US dollar and some in GHS. I understand when you exchange聽 only GHS is accepted聽 in Ghana.聽 this is hard to understand,when the exchange rate changes does all the prices go up in Accra to reflect聽 the change聽 like rent.?聽 and food .

hkann Ghana Expert

Member since 10 March 2010

hkannGhana Expert23 April 2015 06:18:06

1189

Yes! Although it is supposed to be against the law to quote prices in dollars, they are still used for houses and other high cost items. If you are buying something quoted in dollars you pay the cedi equivalent of the price which varies according to the exchange rate. As the cedi falls you see constant price revisions in the shops and sometimes you will find a different price at the till from the shelf.