What is the currency exchange rate for £ 1 USD/GHS?
It’s helpful to get to know the live USD/GHS rate so you can easily calculate how much things are costing you while you’re on your trip abroad.
The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the USD/GHS rate you get when exchanging travel cash includes a markup - an extra fee.
Find the USD/GHS mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily.
Should I exchange USD to GHS before traveling to Ghana?
It’s a good idea to exchange US Dollars to Ghanaian Cedi before you head off to Ghana, as you can often find a better exchange rate and lower overall costs before you travel.
When you’re in Ghana you may need GHS in cash for some of your spending - particularly when tipping or making smaller value purchases. Buying your GHS travel money in advance can get you better USD/GHS exchange rates, and saves you wasting precious time shopping around for a good deal once you arrive in Ghana.
Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of trip, using a travel card to pay while you’re away, or converting cash on arrival. Both in the US and in Ghana, steer clear of exchanging currency at the airport. A captive market means that USD/GHS rates are often worse in the airport than in city centers.
Tips for exchanging money in Ghana
At merchants and ATMs, make sure you’re charged in GHS. If you’re asked if you’d rather pay in USD instead, say no. That’s a sign of dynamic currency conversion, which usually means extra costs. Withdrawing money in target-currency can be easy, particularly in big cities and Accra, here’s a few other tips if you want to exchange money in Ghana
- Avoid using exchange providers at airports or hotels in Ghana as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby
- Use a travel debit card like the Wise card while you’re in Ghana for fast and cheap conversion between currencies and easy ways to manage your money from your phone
Best place to exchange currency in Ghana
You can get your GHS in Ghana in a couple of ways.
You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online.
Or if you prefer an offline solution you can carry some cash in USD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city centre are likely to be cheaper overall.
How to pay in Ghana?
You’ll need to have GHS to spend in Ghana. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in Ghana.
Debit or credit card
Card payments can be helpful in shops, restaurants and hotels but there will be places where cash is also important. Order a travel card from a provider like Wise for cheap and fast transactions, including card payments and cash withdrawals as and when you need travel money in GHS.
Ghanaian Cedi cash
You’ll usually find you can use a card to make payments in Ghana, but carrying some cash in GHS is also reassuring. It’s often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason.
It’s a smart idea to have both a card and some cash in GHS when you’re in Ghana. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Consider using a travel card from a provider like Wise alongside your cash for flexibility.
Paying for the trip in USD
If you’re paying for things in Ghana with a USD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate.
Travel debit cards don’t always work this way. When you make purchases in Ghana using the Wise card you can either choose to convert your account balance to GHS in advance in the Wise app, or just leave your balance in US Dollars and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges.
Conclusion - Currency in Ghana
You won’t be able to pay in USD when you visit Ghana - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on GHS in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging USD to GHS, and make your money go further while you’re away.
The official currency in Ghana is GHS. You can’t usually pay in US Dollars in Ghana, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to GHS and convenient spending and withdrawals - and remember that knowing the USD to GHS mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange.
FAQ - Currency in Ghana
What is the currency in Ghana called?
The official currency in Ghana is the Ghanaian Cedi. You may also see the code GHS and the currency symbol ₵.
What's the currency in Accra?
The official currency in Accra is the Ghanaian Cedi. You’ll only be able to spend in GHS while you’re there.
What is the old Ghana currency?
Today the currency in Ghana is the Ghanaian Cedi. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees.
What is the best currency to take to Ghana?
You’ll only be able to spend in GHS while you’re in Ghana. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.
