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.