About the Money in Cameroon
The Money in Cameroon
The 1919 treaty of Versailles made Cameroon a Franco(80%)-British(20%) mandate which was later transformed in 1945 to a trusteeship.
On December 31st, 1958 Cameroon was granted internal autonomy and full independence on January 1st 1960.
With the merging of South British Cameroon and French Cameroon (following the plebiscite of October 1st, 1961), the sovereign state of Cameroon was granted associate membership status in UDEAC - The Customs and Economic Union of Central Africa ( UDEAC in French, Union Douanière et Économique de l’Afrique Centrale), now Monetary Community of Central Africa (CEMAC in french - Communauté Économique et Monétaire de l'Afrique Centrale).
The Franc CFA
The CEMAC currency is the Franc CFA (Communauté Financière Africaine) (XAF; symbol F CFA).
Banknotes are denominated in 10,000; 5,000; 2,000; 1,000 and 500 FCFA .
Metal coins are denominated in 500, 100, 50, 25, 10, 5, 2 and 1 FCFA .
The Franc CFA is pegged to the French franc at 50 CFA francs to 1 French franc and now the Euro.
The Central bank
The CEMAC central bank is the Banque des États de l'Afrique Centrale - BEAC (Bank of Central African States).
BEAC headquartered in Yaounde, Cameroon serves as the central bank to the entire central African states which include Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon.
Douala stock exchange (DSX) operates a limited trading session stock exchange.
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