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Ouguiya
The ouguiya ( (); sign: UM; code: MRU), at one time spelled "ougiya", is the currency of Mauritania. Each ouguiya constitutes five khoums (meaning "one fifth"). 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 (other denominations). Coins are minted at the Kremnica mint in Slovakia. The coinage slightly changed in 2009, with a reduced 1 ouguiya in plated composition and a bi-metallic 20 ouguiya issued. A bi-me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Khoums
The khoums (singular and plural in English; ; ) 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. The khoums is one of only two subdivisions of currency that are not in a multiple of ten, and the only one still in everyday use; the other is the Malagasy iraimbilanja, also based on the franc. the value of on ... [...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 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 bankno ... [...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, inste ... [...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] |
Sahrawi Arab Democratic Republic
The Sahrawi Arab Democratic Republic (SADR), also known as the Sahrawi Republic and Western Sahara, is a partially recognized state in the western Maghreb, which claims the non-self-governing territory of Western Sahara, but controls only the easternmost one-fifth of that territory. It is recognized by 44 UN member states and South Ossetia. Between 1884 and 1975, Western Sahara was known as Spanish Sahara, a Spanish colony (later an overseas province). The SADR is one of the two African states in which Spanish is a significant language, the other being Equatorial Guinea. The SADR was proclaimed by the Polisario Front on 27 February 1976, in Bir Lehlou, Western Sahara. The SADR government calls the territories under its control the ''Liberated Territories'' or the '' Free Zone''. Morocco controls and administers the rest of the disputed territory, and calls these lands its Southern Provinces. The claimed capital city of the SADR is Laayoune (the capital of the territ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CFA Franc
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banque Centrale De Mauritanie
The Central Bank of Mauritania (, BCM; ) 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 Mohamed Lemine Ould Dhehby. 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, June 1993 - December 1997 * Mahfoudh Ould Mohamed Aly, December 1997 - Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Mauritania
The economy of Mauritania is still largely based on agriculture, mining 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 ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mauritania
Mauritania, officially the Islamic Republic of Mauritania, is a sovereign country in Maghreb, Northwest Africa. It is bordered by the Atlantic Ocean to the west, Western Sahara to Mauritania–Western Sahara border, the north and northwest, Algeria to Algeria–Mauritania border, the northeast, Mali to Mali–Mauritania border, the east and southeast, and Senegal to Mauritania–Senegal border, the southwest. By land area Mauritania is the 11th-largest country in Africa and 28th-largest in the world; 90% of its territory is in the Sahara. Most of its population of some 4.3 million lives in the temperate south of the country; roughly a third of the population is concentrated in the capital and largest city, Nouakchott, on the Atlantic coast. The country's name derives from Mauretania, the Latin name for a region in the ancient Maghreb. It extended from central present-day Algeria to the Atlantic. Berbers occupied what is now Mauritania by the beginning of the third centu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Mauritania
The Central Bank of Mauritania (, BCM; ) 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 Mohamed Lemine Ould Dhehby. 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, June 1993 - December 1997 * Mahfoudh Ould Mohamed Aly, December 1997 - Jan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currencies Introduced In 1973
A currency 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'' appear in the respective synonymous articles: banknote, coin, and money. This article uses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uqiyyah
The uqiyyah (), 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 Hassaniya Arabic (; also known as , , , , and Maure) is a variety of Maghrebi Arabic spoken by Mauritanian Arabs, Malian Arabs and the Sahrawis. It was spoken by the Beni Ḥassān Bedouin tribes of Yemeni origin who extended their authority o ... pronunciation of ''uqiyyah''. References Customary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
