Economy, Currency, Banking, and Trade
exchange rate, French franc, Central Bank, imports, Burkina Faso
Cote d’Ivoire is a member of the six-nation West African Monetary Union. The currency is the CFA franc, issued by the Central Bank for the States of West Africa (712 CFA francs equal U.S.$1; 2000 average). An exchange rate of 50 CFA francs equal to 1 French franc was in force from 1948 to 1994, when the CFA franc was devalued by 50 percent.
In 2000 exports totaled $4 billion and imports were $3.1 billion. Principal trading partners for exports are France, The Netherlands, Germany, Italy, Burkina Faso, and the United States; chief partners for imports are the United States, Ghana, Germany, and Italy.
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