Eight West African nations rename common currency to Eco

Eight West African countries have agreed to change the name of their common currency to Eco and severed their earlier currency CFA Franc’s links to former colonial ruler France. Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo currently use the currency. All the countries are former French colonies with the exception of Guinea-Bissau. The CFA franc, created in 1945, was seen by many as a sign of French interference in its former African colonies even after the countries became independent.

Source: The News on AIR

Find More International News

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

[adda247_lead_form]

Leave a comment

Your email address will not be published. Required fields are marked *