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Devaluation of the CFA Franc in Senegal: the Reaction of Small Businesses

Published online by Cambridge University Press:  11 November 2008

Lucy Creevey ,
Richard Vengroff  and
Ibrahima Gaye
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Extract

The devaluation of the Communauté financière africaine (CFA) franc occurred on 12 January 1994. Benin, Burkina Faso, Cameroon, Chad, Central African Republic, Comoros, Congo, Côte d'Ivoire, Equatorial Guinea, Gabon, Mali, Mauritania, Niger, and Senegal were immediately affected as the value of their currency decreased by 50 per cent. One French franc now became worth 100 instead of 50 CFA – in reality a 100 per cent increase in the cost of goods purchased on the international market with the CFA franc.

Type
Articles
Information
The Journal of Modern African Studies , Volume 33 , Issue 4 , December 1995 , pp. 669 - 683
Copyright
Copyright © Cambridge University Press 1995

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References

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12 Le Soleil, 13 April 1995.

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14 Le Soleil, 13 April 1995.

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