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Chad







Here is the complete financial historical report of Chad 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 Chad

Basic Data

  • Country ISO Code: TD

  • Official Language: French

  • Language ISO Code: fr

  • Current Official Currency: CFA franc (CEMAC)

  • Current Currency ISO Code: XAF


Currencies That Have Circulated in Chad

1. Pre-colonial Currencies

  • Before colonization, trade was primarily 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 CFA franc was created on December 26, 1945, following the Bretton Woods agreements ratified by France.

  • Chad, a member of the Economic and Monetary Community of Central Africa (CEMAC), uses the CFA franc issued by BEAC.

  • The CFA franc’s parity has evolved over the years, with a significant devaluation in 1994.

  • Since 1999, the CFA franc has been pegged to the euro at a fixed rate of 655.957 CFA francs to 1 euro, ensuring relative monetary stability.

  • The CFA franc is used by six CEMAC countries: Cameroon, Central African Republic, Republic of the Congo, Gabon, Equatorial Guinea, and Chad.

  • BEAC is responsible for currency issuance and financial regulation in the region.


Banknote Signatories

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


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 Chad.


Additional Information and Curiosities

  • The CFA franc is viewed by some as a colonial legacy but also as a factor of monetary stability.

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

  • Chad actively participates in regional economic cooperation through CEMAC.


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

 



Fonte:

Autor do blog: Nilton Romani

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