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FCFA
CFA franc (, ) 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 , i.e. "African Financial Community" in English), used in eight West African countries, and the Central African CFA franc (where "CFA" stands for , i.e. "Financial Cooperation in Central Africa" in English), used in six Central African countries. The ISO currency codes are XOF for the West African CFA franc and XAF for the Central African CFA franc. Although the two currencies are commonly called ''CFA franc'' and (currently) have the same value, they are not interchangeable. It is therefore not a common monetary zone but two juxtaposed zones. Both CFA francs have a fixed exchange rate (peg) to the euro guaranteed by France: €1 = F.CFA 655.957 exactly. To ensure this convertibility guarantee, member countries were required to deposit half of their foreign exchange reserves with the French Treasury, but this re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 population of 55.2 million in 2020, and a combined GDP of over US$100 billion (as of 2021). CFA originally stood for ''Colonies françaises d'Afrique'' ("French colonies of Africa"); following the independence of these states, its name was changed to ''Communauté financière africaine'' ("African Financial Community"). The currency is issued by the Bank of Central African States (BEAC; ''Banque des États de l'Afrique Centrale''), located in Yaoundé, Cameroon, for the members of the Economic and Monetary Community of Central Africa (CEMAC; ''Communauté Économique et Monétaire de l'Afrique Centrale''). The franc is nominally subdivided into 100 '' centimes'' but no ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West African CFA Franc
The West African CFA franc ( or simply , 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 The initialism CFA stands for (). 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 but no coins or banknotes denominated in centimes have ever been issued. The production of CFA franc notes 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 African CFA franc, and is in circulation in several central African states. They are both com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CFA Franc Map
CFA may refer to: Agreements * Canadian Football Act * Ceasefire agreement * Compact of Free Association, between the US, Micronesia, Marshall Islands, and Palau * Conditional fee agreement, a payment agreement also known as "no win no fee" Medicine * Common femoral artery * Complete Freund's adjuvant, an immunopotentiator * Cryptogenic fibrosing alveolitis, an archaic term for idiopathic pulmonary fibrosis Organizations * California Faculty Association, a union for the California State University system * Campaign for Accountability, a US ethics watchdog group * China Futures Association, a financial regulation group * Consumer Federation of America * Consumers' Federation of Australia * Campus Freethought Alliance, formerly the Center for Inquiry, Center for Inquiry On Campus, a skeptics' group * CFA Institute, an organization for finance professionals * Canadian Forestry Association * Canadian Fraternal Association * Carinthian Farmers' Association, a political party in Austri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guinea-Bissau
Guinea-Bissau, officially the Republic of Guinea-Bissau, is a country in West Africa that covers with an estimated population of 2,026,778. It borders Senegal to Guinea-Bissau–Senegal border, its north and Guinea to Guinea–Guinea-Bissau border, its southeast. Guinea-Bissau was once part of the kingdom of Kaabu, as well as part of the Mali Empire. Parts of this kingdom persisted until the 18th century, while a few others had been under some rule by the Portuguese Empire since the 16th century. In the 19th century, it was colonised as Portuguese Guinea. Portuguese control was restricted and weak until the early 20th century, when its pacification campaigns solidified Portuguese sovereignty in the area. The final Portuguese victory over the last remaining bastion of mainland resistance came in 1915, with the conquest of the Papel people, Papel-ruled Kingdom of Bissau by the Portuguese military officer João Teixeira Pinto, Teixeira Pinto and the Wolof people, Wolof mercenary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaluation
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a '' revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to other major cur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bretton Woods System
The Bretton Woods system of monetary management established the rules for commercial relations among 44 countries, including the United States, Canada, Western European countries, and Australia, after the 1944 Bretton Woods Agreement until the Jamaica Accords in 1976. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent states. The Bretton Woods system required countries to guarantee convertibility of their currencies into U.S. dollars to within 1% of fixed parity rates, with the dollar convertible to gold bullion for foreign governments and central banks at US$35 per troy ounce of fine gold (or 0.88867 gram fine gold per dollar). It also envisioned greater cooperation among countries in order to prevent future competitive devaluations, and thus established the International Monetary Fund (IMF) to monitor exchange rates and lend reserve currencies to countries with balance of payments de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the world's countries participated, with many nations mobilising all resources in pursuit of total war. Tanks in World War II, Tanks and Air warfare of World War II, aircraft played major roles, enabling the strategic bombing of cities and delivery of the Atomic bombings of Hiroshima and Nagasaki, first and only nuclear weapons ever used in war. World War II is the List of wars by death toll, deadliest conflict in history, causing World War II casualties, the death of 70 to 85 million people, more than half of whom were civilians. Millions died in genocides, including the Holocaust, and by massacres, starvation, and disease. After the Allied victory, Allied-occupied Germany, Germany, Allied-occupied Austria, Austria, Occupation of Japan, Japan, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Franc
The franc (; , ; currency sign, sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced (in French livre, decimal form) in 1795. After two centuries of inflation, it was Redenomination, redenominated in 1960, with each (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc (equivalent to the new centime), up to and even after the introduction of the euro (for coins and banknotes) in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 franc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CFP Franc
The CFP franc (French language, French: , called the ''franc'' in everyday use) is the currency used in the France, French overseas collectivity, overseas collectivities (, or COM) of French Polynesia, New Caledonia, and Wallis and Futuna. The initials ''CFP'' originally stood for () but since 2022 is officially (). Its ISO 4217 currency code is ''XPF''. The CFP franc is subdivided into 100 centimes, although there are no centime denominations. The currency is issued by ''Institut d'émission d'outre-mer'' (IEOM). History 1945–1949 The CFP franc was created in December 1945, together with the CFA franc, used in Africa, because of the weakness of the French franc immediately after the World War II, Second World War. When France ratified the Bretton Woods system, Bretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with the United States dollar, US dollar. New currencies were created in the French colonies to spare ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institutions
An institution is a humanly devised structure of rules and norms that shape and constrain social behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and norms are all examples of institutions. Institutions vary in their level of formality and informality. Institutions are a principal object of study in social sciences such as political science, anthropology, economics, and sociology (the latter described by Émile Durkheim as the "science of institutions, their genesis and their functioning"). Primary or meta-institutions are institutions such as the family or money that are broad enough to encompass sets of related institutions. Institutions are also a central concern for law, the formal mechanism for political rule-making and enforcement. Historians study and document the founding, growth, decay and development of institutions as part of political, economic and cultural history. Def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Fifth Republic
The Fifth Republic () is France's current republic, republican system of government. It was established on 4 October 1958 by Charles de Gaulle under the Constitution of France, Constitution of the Fifth Republic.. The Fifth Republic emerged from the collapse of the French Fourth Republic, Fourth Republic, replacing the former parliamentary republic with a semi-presidential republic, semi-presidential (or dual-executive) system that split powers between a President of France, president as head of state and a Prime Minister of France, prime minister as head of government. Charles de Gaulle, who was the List of Presidents of France#French Fifth Republic (1958–present), first French president elected under the Fifth Republic in December 1958, believed in a strong head of state, which he described as embodying ("the spirit of the nation"). Under the fifth republic, the president has the right to dissolve the national assembly and hold new parliamentary elections. If the president ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Community
The French Community () was the constitutional organization set up in October 1958 between France and its remaining African colonies, then in the process of decolonization. It replaced the French Union, which had reorganized the colonial empire in 1946. While the Community remained formally in existence until 1995, when the French Parliament officially abolished it, it had effectively ceased to exist and function by the end of 1960, by which time all the African members had declared their independence and left it. The Community had a short lifespan because, while the African members did not refuse it, they refrained from real involvement. Under the appearance of equality, the constitution of the Community restricted the sovereignty of the twelve African states, and reaffirmed the preeminence of France, by placing in the ''domaine commun'' (exercised in common) critical functions such as foreign affairs, defence, the currency, economic policies and control of raw materials. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
