Pound Sterling in West African Franc

GBP Pound Sterling

Country of application:
United Kingdom, South Georgia and the South Sandwich Islands

Coin denominations in circulation:
1 pound sterling, 50, 20, 10, 5, 2 pence, 1 penny.

Denominations of banknotes in circulation:
50, 20, 10, 5, 2, 1 pound sterling.

History reference:
The British pound sterling is the official currency of Great Britain. Bank code - GBP. Sterling in the 12th century was called English silver coins. 240 sterling weighed just over 373 grams - that wa...s a pound. In Latin, pondus means weight, heaviness. That is, initially the pound sterling really meant "a pound of pure silver." There is a visible connection with the Old English lexeme steorling - "asterisk". It was the stars that depicted the silver coins produced in Normandy. Easterling Silver (literally: silver from the eastern lands) - hard-wearing coins made of a durable silver alloy, created in the north of modern Germany - those territories were formerly called Easterling.

XOF West African Franc

Country of application:
Benin, Burkina Faso, Cote dIvoire, Guinea-Bissau, Mali, Niger, Senegal, Togo

Coin denominations in circulation:
1, 5, 10, 25, 50, 100, 200, 250, 500 CFA francs.

Denominations of banknotes in circulation:
500, 1000, 2000, 5000, 10,000 CFA francs.

History reference:
The CFA franc was introduced as the single currency of the French territories of West and Central Africa on December 26, 1945. By this time, the Franc Zone (an alliance created on the basis of former... French colonies) existed for about four years and was considered a voluntary association of participating countries. At first, the common currency was the French franc, but after the adoption of a decree in 1945, the CFA franc was introduced into circulation. The currency ratio was as follows: 1 CFA franc = 1.70 French francs. On November 20, 1963, Togo officially joined the Monetary Union. Mauritania leaves the Monetary Union in 1973. In the middle of 1984, Mali returned to the union. On January 10, 1994, after lengthy meetings, an agreement was reached in Dakar on the transformation of the West African Monetary Union into the West African Economic and Monetary Union, to which, on May 2, 1997, the Republic of Guinea-Bissau joined, replacing the significantly depreciated peso in circulation on its territory Guinea-Bissau to CFA franc BCEAO.