Here is the complete financial historical report of the Central African Republic in International English, including all currencies that have circulated since the beginning of its monetary production, clearly highlighting the current official currency:

Comprehensive Financial Historical Report of the Central African Republic

Basic Data

• Country ISO Code: CF

• Official Language: French

• Language ISO Code: fr

• Current Official Currency: CFA franc (CEMAC)

• Current Currency ISO Code: XAF

Currencies That Have Circulated in the Central African Republic

1. Pre-colonial Currencies

• Before colonization, trade was based on barter and the use of goods such as ivory, copper, and cattle.

• No formal currency was issued.

2. French Franc and French Equatorial Africa Franc (until 1958)

• The French franc was used during the colonial period, notably as the French Equatorial Africa franc.

• ISO Code: FRF (historical)

• Singular Name: franc

• Plural Name: francs

• Subdivision: 1 franc = 100 centimes

• Circulation period: until 1958

• Issued by: Banque de l’Afrique Occidentale Française and the Institut d’Émission de l’Afrique Équatoriale Française et du Cameroun (I.E.A.E.F.C) starting in 1955.

3. CFA Franc of CEMAC (since 1958)

• Created in 1958 within the framework of the French Union, later renamed in 1960 as the Financial Cooperation Franc in Central Africa (CFAC).

• ISO Code: XAF

• Singular Name: franc

• Plural Name: francs

• Subdivision: 1 franc = 100 centimes

• Production Start Date: 1958

• Production End Date: currently in circulation

• Circulation Start Date: 1958

• Circulation End Date: currently in circulation

• Mint Locations: specialized mints in Europe (mainly France)

• Issuing Bank: Bank of Central African States (BEAC)

• Minted Coin Values: 1, 5, 10, 25, 50, 100 francs

• Printed Banknote Values: 500, 1000, 2000, 5000, 10,000 francs

• Designs / Symbols: traditional African motifs, landscapes, and cultural scenes of the region.

• Status: official currency and actively circulating.

Historical and Economic Context

• The Central African Republic gained independence from France in 1960 but retained the CFA franc as its official currency.

• The CFA franc is a common currency among the six CEMAC member states: Cameroon, Gabon, Equatorial Guinea, Central African Republic, Republic of the Congo, and Chad.

• The CFA franc is pegged to the euro at a fixed rate of 655.957 francs to 1 euro, ensuring relative monetary stability.

• The BEAC manages currency issuance and monetary regulation in the region.

• Discussions are ongoing about replacing the CFA franc with a new common currency, the eco, planned for ECOWAS, but its impact on CEMAC remains uncertain.

Banknote Signatories

• Banknotes bear the signatures of the Governor of BEAC and the Finance Minister of member states.

People and Symbols Honored on Coins and Banknotes

• Coins and banknotes depict cultural, historical, and natural symbols of Central Africa, without featuring specific political figures from the Central African Republic.

Additional Information and Curiosities

• The CFA franc is viewed by some as a guarantee of monetary stability, while others see it as a colonial legacy limiting economic sovereignty.

• BEAC regularly issues commemorative coins and banknotes for regional events.

• The Central African Republic actively participates in regional economic cooperation through CEMAC.

This report provides a comprehensive overview of the monetary evolution of the Central African Republic, from French colonial currencies to the current CFA franc, a stable and common currency within the Central African Economic and Monetary Community.

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