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www.bceao.int. BCEAO is the central bank of the states in green. The Central Bank of West African States ( French: Banque Centrale des États de l'Afrique de l'Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union .
1 January 1999 onwards – F.CFA 100 = €0.152449 or €1 euro = F.CFA 655.957. (1 January 1999: the euro replaced FRF at the rate of 6.55957 FRF for 1 euro) The 1960 and 1999 events merely reflect changes of currency in use in France: the actual relative value of the CFA franc versus the French franc/euro only changed in 1948 and 1994.
The currency was pegged to the French franc at F.CFA 1 = F 2, from 1948, becoming 1 F.CFA = NF 0.02 after introduction of the new franc at 1 new franc = 100 old francs. In 1994 the currency was devalued by half to F.CFA 1 = F 0.01. From 1999 it has since been pegged to the euro at €1 = F 6.55957 = F.CFA 655.957
There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of both currency unions use the CFA Franc as their legal tender.
List of currencies in Europe. There are 29 currencies currently used in the 50 countries of Europe. All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 25 countries); any country entering the European Union (EU) is expected ...
The euro area, [ 8 ] commonly called the eurozone ( EZ ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 20 eurozone members are:
The name euro was officially adopted on 16 December 1995 in Madrid. [15] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making ...
Website. www .ecowas .int. The Economic Community of West African States ( ECOWAS; also known as CEDEAO in French and Portuguese) is a regional political and economic union of fifteen countries of West Africa. Collectively, the countries comprise an area of 5,114,162 km 2 (1,974,589 sq mi) and have an estimated population of over 424.34 million.