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Ouguiya
The ouguiya ( ar, rtl=yes, 1=أوقية موريتانية, links=, lit=, translit= (); sign: UM; code: MRU), at one time spelled "ougiya", is the currency of Mauritania. Each ouguiya constitutes five khoums (meaning "one fifth"). As such it is one of two circulating currencies, along with the Malagasy ariary, whose division units are not based on a power of ten. The current ouguiya was introduced in 2018, replacing the old ouguiya at a rate of 1 new ouguiya = 10 old ouguiya, which in turn replaced the CFA franc at a rate of 1 old ouguiya = 5 francs. The name ''ouguiya'' () is the Hassaniya Arabic pronunciation of '' uqiyyah'' ), meaning "ounce". First Ouguiya (MRO) Coins In 1973, coins of (1 khoums), 1, 2, 5, 10 and 20 ouguiya were introduced into circulation. This was the only year that the khoums was minted, as the ouguiya was worth five CFA Francs a khoums was the equivalent of the franc (which had no subdivision). The most recent issues were in 2003 (1 ouguiya) and 2004 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Khoums
The khoums (singular and plural in English; ar, خمس, "fifth") is the subdivisory unit of the Mauritanian monetary system, the ouguiya. Five khoums make an ouguiya, hence one khoums can be expressed as 0.2 ouguiya. When the ouguiya was adapted in 1973, it replaced the CFA franc as 5 francs to the ouguiya, thus a khoums was equal to the franc. As the franc had no subdivisional unit, all wealths in francs could be converted to ouigiya with no rounding. On the khoums coin (minted in Kremnica Mint, Slovakia), the obverse is in Arabic with the date of the Islamic calendar and the reverse in French in the Gregorian calendar with national arms on each side, identical to all other Mauritanian coins. However, on the Arabic side, instead of a number like on the other coins, the word is used.http://worldcoingallery.com/countries/coine.php?image=img13/119-1&desc=Mauritania km1 1/5 Ouguiya (1973)&query=Mauritania The khoums is one of only two subdivisions of currency that are not in a m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Polymer Banknote
Polymer banknotes are banknotes made from a synthetic polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks. Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement. Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne. They were first issued as currency in Australia during 1988 (coinciding with Australia's bicentennial year); by 1996, the Australian dollar was switched completely to polymer banknotes. Romania was the first country in Europe to issue a plastic note in 1999 and became the third country after Australia and New Zealand to fully convert to polymer by 2003. Other currencies that have been switched completely to polymer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 4217
ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individual currencies and their minor units. This data is published in three tables: * Table A.1 – ''Current currency & funds code list'' * Table A.2 – ''Current funds codes'' * Table A.3 – ''List of codes for historic denominations of currencies & funds'' The first edition of ISO 4217 was published in 1978. The tables, history and ongoing discussion are maintained by SIX Group on behalf of ISO and the Swiss Association for Standardization. The ISO 4217 code list is used in banking and business globally. In many countries, the ISO 4217 alpha codes for the more common currencies are so well known publicly that exchange rates published in newspapers or posted in banks use only these to delineate the currencies, instead of transl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 (UEMOA; '): Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion (as of 2018). The acronym CFA stands for ' ("African Financial Community"). The currency is issued by the Central Bank of West African States (BCEAO; '), located in Dakar, Senegal, for the members of the UEMOA. The franc is nominally subdivided into 100 ''centimes'' but no coins or banknotes denominated in centimes have ever been issued. The production of CFA franc notes and coins has been carried out at Chamalières by the Bank of France since its creation in 1945. The Central African CFA franc is of equal value to the West ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Mauritania
} The economy of Mauritania is still largely based on agriculture and livestock, even though most of the nomads and many subsistence farmers were forced into the cities by recurring droughts in the 1970s and 1980s. Mauritania has extensive deposits of iron ore, which account for almost 50% of total exports. The decline in world demand for this ore, however, has led to cutbacks in production. With the current rise in metal prices, gold and copper mining companies are opening mines in the interior. The nation's coastal waters are among the richest fishing areas in the world, but overexploitation by foreigners threatens this key source of revenue. The country's first deep water port opened near Nouakchott in 1986. In recent years, drought and economic mismanagement have resulted in a buildup of foreign debt. In March 1999, the government signed an agreement with a joint World Bank-International Monetary Fund mission on a $54 million enhanced structural adjustment facility (ESAF). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banque Centrale De Mauritanie
The Central Bank of Mauritania (french: Banque centrale de Mauritanie, BCM; ar, البنك المركزي الموريتاني) is the central bank of Mauritania, in northwest Africa. The bank is located in the capital Nouakchott, just south of the presidential palace. Its current governor is Cheikh El Kebir Moulay Taher. History The bank was created by acts of the legislature of Mauritania, in 1973, 1974 and 1975. It was established by President Moktar Ould Daddah after he withdrew Mauritania from the French-dominated monetary consortium, the Communauté Financière Africaine. Governors *Ahmed Ould Daddah, June 1973 - May 1978 *Sid Ahmed Ould Bneijara, May 1978 - July 1978 * Dieng Boubou Farba, July 1978 - April 1981 * Ahmed Ould Zein, April 1981 - July 1983 * Dieng Boubou Farba, July 1983 - September 1987 * Mohamed Ould Nany, September 1987 - April 1988 * Ahmed Ould Zein, April 1988 - June 1992 * Moustapha Ould Abeiderrahmane, June 1992 - June 1993 * Mohamedou Ould Michel, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CFA Franc
The CFA franc (french: franc CFA, , Franc of the Financial Community of Africa, originally Franc of the French Colonies in Africa, or colloquially ; abbreviation: F.CFA) is the name of two currencies, the West African CFA franc, used in eight West African countries, and the Central African CFA franc, used in six Central African countries. Although separate, the two CFA franc currencies have always been at parity and are effectively interchangeable. The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc. 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. Both CFA francs have a fixed exchange rate to the euro: 100 CFA francs = 1 French franc = €0.152449; or €1 = F 6.55957 = F.CFA 655.957 exactly. Usage CFA francs are used in fourteen countries: twelve nations formerly ruled by France in West and Central Africa (ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Mauritania
The Central Bank of Mauritania (french: Banque centrale de Mauritanie, BCM; ar, البنك المركزي الموريتاني) is the central bank of Mauritania, in northwest Africa. The bank is located in the capital Nouakchott, just south of the presidential palace. Its current governor is Cheikh El Kebir Moulay Taher. History The bank was created by acts of the legislature of Mauritania, in 1973, 1974 and 1975. It was established by President Moktar Ould Daddah after he withdrew Mauritania from the French-dominated monetary consortium, the Communauté Financière Africaine. Governors *Ahmed Ould Daddah, June 1973 - May 1978 *Sid Ahmed Ould Bneijara, May 1978 - July 1978 * Dieng Boubou Farba, July 1978 - April 1981 * Ahmed Ould Zein, April 1981 - July 1983 * Dieng Boubou Farba, July 1983 - September 1987 * Mohamed Ould Nany, September 1987 - April 1988 * Ahmed Ould Zein, April 1988 - June 1992 * Moustapha Ould Abeiderrahmane, June 1992 - June 1993 * Mohamedou Ould Michel, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 1973
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "currency ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malagasy Ariary
The ariary ( sign: Ar; ISO 4217 code MGA) is the currency of Madagascar. It is notionally subdivided into 5 '' iraimbilanja'' and is one of only two non-decimal currencies currently circulating (the other is the '' Mauritanian ouguiya''). The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary (from the Spanish word "real") being the name for a silver dollar. Iraimbilanja means literally "one iron weight" and was the name of an old coin worth of an ariary. However, as of 2021 the unit is effectively obsolete, since one iraimbilanja is worth less than US$0.005 and the coins have fallen into disuse. History The ariary was introduced in 1961. It was equal to 5 Malagasy francs. Coins and banknotes were issued denominated in both francs and ariary, with the sub-unit of the ariary, the ''iraimbilanja'', worth of an ariary and therefore equal to the franc. The ariary replaced the franc as the official currency of Madagascar on January 1, 2005. Coins and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mauritania
Mauritania (; ar, موريتانيا, ', french: Mauritanie; Berber: ''Agawej'' or ''Cengit''; Pulaar: ''Moritani''; Wolof: ''Gànnaar''; Soninke:), officially the Islamic Republic of Mauritania ( ar, الجمهورية الإسلامية الموريتانية), is a sovereign country in West Africa. It is bordered by the Atlantic Ocean to the west, Western Sahara to the north and northwest, Algeria to the northeast, Mali to the east and southeast, and Senegal to the southwest. Mauritania is the 11th-largest country in Africa and the 28th-largest in the world, and 90% of its territory is situated in the Sahara. Most of its population of 4.4 million lives in the temperate south of the country, with roughly one-third concentrated in the capital and largest city, Nouakchott, located on the Atlantic coast. The country's name derives from the ancient Berber kingdom of Mauretania, located in North Africa within the ancient Maghreb. Berbers occupied what is now Mauritani ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uqiyyah
The uqiyyah ( ar, أُوقِيَّة), sometimes spelled awqiyyah, is the name for a historical unit of weight that varies between regions, as listed below. 1 uqiyyah= 40 dirham. 1 dirham= 0.7 dinar. It corresponds to the historical unit ounce and was defined in Iraq as one twelfth of a ratl or in parts of Egypt as one eighth of a ratl. As the ratl varied so did the uqiyyah as its part. *Egypt: 37g *Aleppo: 320g *Beirut: 213.39g *Jerusalem: 240g *Malta: ~26.46 g The same unit, pronounced '' okka'' in Turkish, was used in the Ottoman Empire until the early 20th century. The standard Istanbul okka equaled 128.3 g. The ouguiya, the currency of Mauritania, takes its name from the Hassaniya Arabic Hassānīya ( ar, حسانية '; also known as , , , , and ''Maure'') is a variety of Maghrebi Arabic spoken by Mauritanian Arabs and the Sahrawi. It was spoken by the Beni Ḥassān Bedouin tribes, who extended their authority over most of ... pronunciation of ''uqiyyah''. Refe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
