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AFRICA – Rumor of a devaluation of the CFA franc, the BCEAO reacts!

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Following rumours of the devaluation of the CFA franc, the BCEAO reacted with a statement.

The Central Bank of West African States (BCEAO) has read an article published on social networks announcing a devaluation of the FCFA in relation to the euro that would have occurred on 9 March 2022. She reacted with this statement.

The BCEAO formally denies this information and specifies that the exchange rate between the Euro and the FCFA remains unchanged, namely 1 euro = 655.957 FCFA. It also recalls that the official exchange rates of the main currencies are published daily on its website, which can be consulted at www.bceao.int under the heading Statistics – “Exchange rates against CFA francs”.

It therefore invites people to be extremely vigilant and to refer only to the usual official channels of communication of the Issuing Institute.

In this regard, it recalls that all its press releases are published on its website, as well as in the official print and audiovisual press of the Member States of the West African Monetary Union (UMOA).

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The BCEAO reserves the right to institute legal proceedings against the perpetrators and accomplices of acts and messages of such a nature as to prejudice the monetary signs having legal tender in the Member States of the UMOA».

       

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