GK
WORLD ORGANISATIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which European country provides its currency for Bank of Central African States:
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France
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UK
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Netherlands
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Germany
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Explanation:
Detailed explanation-1: -BEAC’s official currency is the Central African CFA franc, which has an exchange rate tied to the euro.
Detailed explanation-2: -It is made up of three areas, each of which has its own central bank and currency: The West African Economic and Monetary Union (UEMOA) of 8 Member States: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
Detailed explanation-3: -The West African Monetary and Economic Union (also known under the French acronym, UEMOA) was established with the Treaty signed in Dakar on 10 January, 1994 by the Heads of State and Government of seven West African countries using the CFA Franc in common.
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