African currencies are not unified, but the CFA franc is the most widely used currency. At present, the CFA franc zone includes eight member countries of the West African Economic and Monetary Union (Benin, Burkina Faso, C? te d 'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo). French banks and banks in related countries in West Africa are the same issuing department of West African francs. West African franc is an important tool for financial and economic cooperation between France and eight West African countries.
1. African monetary integration is one of the manifestations of monetary integration in developing countries. In order to strengthen economic and financial cooperation, developing countries have got rid of the control of big countries. West African Monetary Union, Central African Monetary Union and African Development Fund are all forms of African monetary integration and African economic and monetary union. Among them, the West African Monetary Union is a typical form of monetary integration in Africa.
Second, from 65438 to 0962, the West African Monetary Union was established, which has developed rapidly in the past 30 years, especially since the 1980s. These countries have been using the African financial franc, a freely circulating currency issued by the Central Bank of West African States. The unified currency is linked to the French franc, which not only retains the foreign exchange reserves of all member countries, but also ensures the free convertibility of African financial francs. In the whole currency area, all member countries implement the same monetary policy. The healthy development of the process of monetary integration in Africa is conducive to the financial coordination and economic development of the whole African region.
There are dozens of countries in Africa and their currencies are not completely unified.
2. Egyptian pound is the currency in circulation in Egypt. The unit of Egyptian pound paper money is Egyptian pound, and the unit of secondary currency is Piast. 1 Egyptian pound =0.383 yuan, and its coin is piaster; 1, 5 and 10; There are 5, 10, 25 and 50 piasters and 10, 5, 10, 20, 50 and 100 Egyptian pounds. 2. Benin's African finance has the same franc.
3. The South African Rand is issued by the Reserve Bank of South Africa (the Central Bank). South Africa was originally a British dominion and used the South African pound, 1946 12 18. The initial gold content is 3.58134g, which is equivalent to the pound. In September 1949 and 18, the South African pound depreciated by 30.5% with the pound, and the gold content dropped to 2.48828 grams. The official exchange rate dropped from 1 South African pound to $4.03 to $2.80.
The shilling is the old unit of currency in Britain. In the past, most British colonies used the same monetary unit, such as Kenya, Somalia, Uganda and Tanzania.
The name of dinar comes from a kind of silver coin called Denari in Roman Empire. There are Libyan, Tunisia and Algerian countries whose currency is dinar. The rupee means "silver coin" and is used in Mauritius and Seychelles.