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Many African countries change their currency's appearance when a new government takes power (often the new head of state will appear on bank notes), though the notional value remains the same. Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar).
Others argue that the CFA "helps stabilize the national currencies of Franc Zone member-countries and greatly facilitates the flow of exports and imports between France and the member-countries". [3] On 22 December 2019, it was announced that the West African currency would be reformed and replaced by an independent currency to be called Eco. [4]
West African CFA franc. The West African CFA franc ( French: franc CFA or simply franc, ISO 4217 code: XOF; abbreviation: F.CFA) is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
The South African rand, or simply the rand, ( sign: R; code: ZAR [a]) is the official currency of South Africa. It is subdivided into 100 cents (sign: "c"), and a comma separates the rand and cents.
Currency coins of the Central African CFA franc. The Central African CFA franc ( French: franc CFA or simply franc; ISO code: XAF; abbreviation: F.CFA) is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries had a combined ...
IMF releases the quarterly data on the currency composition of official foreign exchange reserves. The data are reported to the IMF on a voluntary and confidential basis. As of Q4 2016, there are 146 reporters, consisting of IMF member countries, a number of non-member countries/economies, and other entities holding foreign exchange reserves.
Zambian kwacha. Zambian pound. Zanzibari rupee. Zimbabwean bond coins. Zimbabwean bond notes. Zimbabwean dollar. Zimbabwean dollar (2019–present) Categories: Currencies by continent.
e. This is a list of countries by their exchange rate regime. [1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating ( floating and free floating) Soft pegs ( conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard pegs ...
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