The peseta (''peseta guineana'') was the

currency 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 envi ...

Equatorial Guinea Equatorial Guinea, officially the Republic of Equatorial Guinea, is a country on the west coast of Central Africa. It has an area of . Formerly the colony of Spanish Guinea, its post-independence name refers to its location both near the Equ ...

from 1969 to 1975. It replaced the Spanish peseta at par shortly after gaining independence from Spain the prior year and was later replaced, again at par, by the ekwele.

Coins

Four denominations of coins were issued, all dated 1969. These were an aluminum-bronze 1 peseta and copper nickel 5, 25 and 50 pesetas. The coins were the same size as the corresponding Spanish peseta coins and were minted by

Madrid Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 7 million. It i ...

. The designs are simple and straight forward with the largest denomination depicting the first national president.

Banknotes

Three denominations of banknotes were issued dated 12 DE OCTUBRE DE 1969. These were 100, 500 and 1000 pesetas. In 1975, notes denominated in ekuele replaced the peseta guineana at par. In 1979, the portrait of

Francisco Macías Nguema Francisco Macías Nguema (born Mez-m Ngueme, later Africanisation, Africanised to Masie Nguema Biyogo Ñegue Ndong; 1 January 1924 – 29 September 1979), often referred to as Macías Nguema or simply Macías, was an Equatoguinean politician w ...

was removed from the currency of Equatorial Guinea after his overthrow on 3 August 1979, and subsequent execution on 29 September following a guilty verdict for crimes including genocide, mass murder, embezzlement of public funds, violations of human rights, and treason. The traditional coat of arms was also restored. Concurrent with the release of these new notes, the name of the currency was also changed from ekuele (plural ekuele) to ekwele (plural bipkwele). Equatorial Guinea entered the Franc Zone on 2 January 1985. The ekwele was replaced by the Central African franc (written Franco on these notes) at a rate of 1 franc = 4 bipkwele. In the late 1980s, Equatorial Guinea joined the Central African States, which issued its notes thereafter.

References

Currencies of Africa Economy of Equatorial Guinea Modern obsolete currencies 1969 establishments in Equatorial Guinea 1975 disestablishments in Equatorial Guinea {{EquatorialGuinea-stub