- 8 West African nations- Ivory Coast, Mali, Burkina Faso, Benin, Niger, Senegal, Togo, and Guinea-Bissau have agreed to rename their common currency from ‘CFA franc’ to ‘Eco’.
- The announcement was made on 21st December during a visit by Emmanuel Macron (French President) to Ivory Coast.
- Prior to this, all of these nations use 'CFA franc' as their currency. The CFA Franc was initially pegged to the French franc and has been linked to the euro for about two decades.
Published On : 23 Dec 2019
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