Institutions
Strictly speaking, there are actually two different currencies called the CFA franc: the West African CFA franc (ISO 4217 currency code XOF), and the Central Africa CFA franc (ISO 4217 currency code XAF). They are distinguished in French by the meaning of the abbreviation CFA. These two CFA francs have the same exchange rate with the euro (1 euro = 655.957 XOF = 655.957 XAF), and they are both guaranteed by the French treasury (Trésor public), but the West African CFA franc cannot be used in Central African countries, and the Central Africa CFA franc cannot be used in West African countries.
Read more about this topic: CFA Franc
Famous quotes containing the word institutions:
“Schools are generally feminine places, institutions where conformity is valued, taught largely by conformist women.”
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“Unless we maintain correctional institutions of such character that they create respect for law and government instead of breeding resentment and a desire for revenge, we are meeting lawlessness with stupidity and making a travesty of justice.”
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