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Official currency of the eurozone and states with agreements with the European Union like as Monaco, San Marino, Vatican City or Andorra. Its symbol is € and its ISO code is EUR. It is issued by the ECB (European Central Bank). It was introduced in the financial markets in January 1999. Banknotes and coins were introduced in January 2002. It is the second world reserve currency.
CFA Franc
The two currencies, the West African CFA Franc and the Central African CFA Franc, are interchangeable with each other and with the same exchange rate. Originally, the CFA had a parity of 1.7 with the French franc, before moving on to changes of 2FF, 0.02FF and 0.01FF. Finally in 1999, it was fixed at a fixed exchange rate with the Euro of 655,957 CFA. Its convertibility is guaranteed by the Bank of France.
