CFA

CFA is the currency used in the old French colonies in West Africa . France guaranteed these countries a stable currency in order to support their economical development. Therefore, they introduced a currency called CFA, linked directly to the French Franc (FRF) via a fixed exchange rate.

Since 1960 the exchange rate has been 1 FRF = 50 CFA.

On the 12 th January 1994, the CFA was devalued to 1 FRF= 100 CFA.

On 1 st January 1999, this situation was picked-up by the euro-system : 1 EUR = 655.957 CFA

http://en.wikipedia.org/wiki/CFA_franc#Exchange_rate

http://en.wikipedia.org/wiki/Image:Cfa_map.png