Argentine Peso country flag

Argentine Peso

ARS

$
Ghanaian Cedi country flag

Ghanaian Cedi

GHS

GH¢
Argentine Peso
The peso (established as the peso convertible; several older currencies were also named peso) is the currency of Argentina since 1992, identified within Argentina by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 centavos, but with 10 pesos being worth about 1 US cent in early 2025, smaller denominations are not issued or in normal use. Its ISO 4217 code is ARS. It replaced the austral at a rate of 10,000 australes to one peso. Argentine currency has experienced severe inflation, with periods of hyperinflation, since the mid-20th century, with periodic change of the currency valuation to a new version at a rate ranging from 100:1 to 10,000:1. A new peso introduced in 1992, officially the peso convertible de curso legal, was worth 10,000,000,000,000 (ten trillion) pesos moneda nacional, the currency in use until 1970. Since the early 21st century, the peso has experienced further substantial inflation, reaching 289.4% year-on-year in April 2024, the highest since the current peso was introduced in the Convertibility plan of 1991. The official exchange rate for the United States dollar valued the peso convertible de curso legal at one US dollar at its introduction in 1992, which was maintained until early 2002. Afterwards, it went from a 3:1 exchange rate with the US dollar in 2003 to 178:1 in early 2023. On 14 August 2023, the official exchange rate was fixed at ARS$350 to one US dollar; the unregulated rate valued the peso at ARS$665 to one US dollar. On 15 November 2023, the crawling peg was restored. On 12 December 2023, following the election of president Javier Milei, economy minister Luis Caputo changed the official exchange rate to 800 pesos to the U.S. dollar from the previous 366.5, a devaluation of 54%, to be followed by a monthly devaluation target of 2% (about 27% per year). At the time, the unofficial exchange rate was around 1,000 pesos per dollar.
Ghanaian Cedi
The cedi ( SEE-dee, pronounced in the same way as CD; currency sign: GH₵; currency code: GHS) is the unit of currency of Ghana. It is the fourth historical and only current legal tender in the Republic of Ghana. One Cedi is divided into one hundred Pesewas (Gp). After independence in 1957, Ghana separated itself from the British West African pound, which was the currency of the British colonies in the region. The new republic's first independent currency was the Ghanaian pound (1958–1965). In 1965, Ghana decided to leave the British colonial monetary system and adopt the widely accepted decimal system. The African name Cedi (1965–1967) was introduced in place of the old British pound system. Ghana's first President Kwame Nkrumah introduced Cedi notes and Pesewa coins in July 1965 to replace the Ghanaian pounds, shillings and pence. The Cedi bore the portrait of the President and was equivalent to eight shillings and four pence (8s 4d), i.e. one hundred old pence, so that 1 pesewa was equal to one penny. After the February 1966 military coup, the new leaders wanted to remove the face of Nkrumah from the banknotes. The "new Cedi" (1967–2007) was worth 1.2 Cedis, which made it equal to half of a pound sterling (or ten shillings sterling) at its introduction. Decades of high inflation devalued the new Cedi, so that in 2007 the largest of the "new cedi" banknotes, the 20,000 note, had a value of about US$2. The new cedi was gradually phased out in 2007 in favor of the "Ghana Cedi" at an exchange rate of 1:10,000. By removing four digits, the Ghana Cedi became the highest-denominated currency unit issued in Africa. It has since lost over 90% of its value.