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Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA franc in 1984, replacing the Equatorial Guinean ekwele at a rate of 1 franc = 4 bipkwele. [ citation needed ] The currency was pegged to the French franc (F) at F.CFA 1 = 2 French francs from 1948, becoming F.CFA 1 = NF 0.02 after introduction of the new franc at 1 ...
The ekwele or ekuele was the currency of Equatorial Guinea between 1975 and 1985. Although nominally divided into 100 céntimos, no subdivisions were issued.The name ekuele (plural the same) was used until 1979, whilst ekwele (plural bipkwele) was used after.
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 )
Usage of: West African CFA franc (XOF) Central African CFA franc (XAF) CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries, and ...
The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal. [ citation needed ] In many rural areas there is still a strong bartering culture, the exchanged items being of more immediate value than official currency (following the principle that one can ...
A currency is a kind of money and medium of exchange. Currency includes paper, ... Equatorial Guinea, Gabon: South African rand: R ZAR Cent: 100 4 South Africa ...
Currency Central bank Peg Benin: West African CFA franc: Central Bank of West African States: 1 EUR = CFA 655.957 Burkina Faso Guinea-Bissau Ivory Coast Mali Niger Senegal Togo Cameroon: Central African CFA franc: Bank of Central African States: 1 EUR= CFA 655.957 Central African Republic Chad Equatorial Guinea Gabon Republic of the Congo
French Equatorial African franc – French Equatorial Africa; French Guianan franc – French Guiana; French Polynesian franc – French Polynesia; French West African franc – French West Africa; Geneva franc – Geneva; Guadeloupe franc – Guadeloupe; Guinean franc – Guinea (replaced in 1971, re-established in 1985) Katangese franc ...