2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Crypto
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Bitcoin
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Eco
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Echo
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Detailed explanation-1: -The eight countries that renamed their common currency to eco are Benin, Burkina Faso, Guinea- Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo.
Detailed explanation-2: -The West African CFA Franc (XOF) is the currency shared by eight West-African nations: Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo.
Detailed explanation-3: -History of the CFA franc Cameroon, Central Africa, Congo, Gabon, Equatorial Guinea and Chad, which form the Economic and Monetary Community of Central African States (CEMAC), whose central bank is the Bank of Central African States (BEAC).
Detailed explanation-4: -After a few months, in December 2019, the West African Economic and Monetary Union (UEMOA) decided to convert the CFA franc (a common currency shared between the French-speaking ex-colonies and France) into a new common currency with the same name ECO.
Detailed explanation-5: -These two unions maintain the same currency, the CFA franc, which stands for Communauté Financière Africaine (African Financial Community) within WAEMU and Coopération Financière en Afrique Centrale (Financial Cooperation in Central Africa) within CAEMC.