Ghana's currency to lose four zeros in 2007

Ghana's cedi will lose four zeroes next July 2007, a central bank official said on Monday.

"We will be setting the current 10,000 cedi to one new cedi," Ernest Addison, the bank's head of research, told a local radio station.

The move will make life easier for members of the public used to carrying large bundles of notes to make ordinary daily purchases. At present one US dollar is worth just over 9,000 cedis, and Ghana's largest banknote, the 20,000 cedis, worth around only $2.

Addison said there

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