CFA franc peg to Euro sustainable
Standard Chartered Bank considered that a devaluation of the West African CFA franc and the Central African CFA franc, which are both pegged to the Euro, is not likely in the near term. The CFA franc is the common currency of the West African Economic & Monetary Union and the Central African Economic & Monetary Community. First, it anticipated that the depreciation of the Euro against the US dollar would benefit the CFA franc zones…
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