Here is a comprehensive financial historical report of Equatorial Guinea, in International English, including all currencies that have circulated since the beginning of its monetary history, clearly highlighting the current official currency:
Country ISO Code: GQ
Official Languages: Spanish, French, and Portuguese
Primary Language ISO Code: es
Current Official Currency: CFA franc (CEMAC)
Current Currency ISO Code: XAF
Before colonization, trade was based on barter and exchange of goods.
No formal currency was established.
During the French colonial period, the French franc and later the French Equatorial Africa franc circulated.
ISO Code: FRF (historical)
Subdivision: 1 franc = 100 centimes
Issued by French institutions until 1958.
Established in 1958, the CFA franc has been the official currency of Equatorial Guinea since independence.
ISO Code: XAF
Singular Name: franc
Plural Name: francs
Subdivision: 1 franc = 100 centimes
Issuing Bank: Bank of Central African States (BEAC)
Coins in circulation: 1, 5, 10, 25, 50, 100 francs
Banknotes in circulation: 500, 1000, 2000, 5000, 10,000 francs
Designs: cultural motifs and landscapes of Central Africa.
Status: official and actively circulating currency.
Equatorial Guinea is a member of the Economic and Monetary Community of Central Africa (CEMAC), which uses the CFA franc.
The CFA franc is pegged to the euro at a fixed rate of 655.957 CFA francs per 1 euro, providing monetary stability.
BEAC is responsible for issuing and regulating currency in the region.
The economy of Equatorial Guinea is based on oil production, agriculture, and regional trade.
Banknotes bear the signatures of the Governor of BEAC and the Finance Minister of member countries.
Coins and banknotes depict cultural, historical, and natural symbols of Central Africa, without highlighting specific political figures.
The CFA franc is subject to debates regarding monetary sovereignty but is valued for its stability.
BEAC issues commemorative coins and banknotes for regional events.
Equatorial Guinea actively participates in regional economic cooperation through CEMAC.
This report provides a comprehensive overview of the monetary evolution of Equatorial Guinea, from colonial French currencies to the current CFA franc, a stable and common currency within the Economic and Monetary Community of Central Africa.