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Monday, 23 December 2019

See Exchange Rate And Countries To Use The New Eco Currency In 2020

See Exchange Rate And Countries To Use The New Eco Currency In 2020

The Economic Community for West African States (ECOWAS) has adopted a single currency named Eco, which it plans to launch in 2020.

The major goal of Eco Currency is to merge the West African CFA franc as well as Ghana Cedi and Nigerian Naira. This will create a common currency within the West African Countries.

As part of its plans to make Africa a more integrated continent, leaders of ECOWAS adopted the name ‘ECO‘ for a planned single currency to be used in the region.

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Below are list of countries to adopt the use of Eco Currency when finally released next year.

Benin

Burkina Faso

Cabo Verde (Cape Verde)

Côte d’Ivoire (Ivory Coast)

The Gambia

Ghana

Guinea

Guinea-Bissau

Liberia

Mali

Mauritania

Niger

Nigeria

Saint Helena

Senegal

Sierra Leone

Togo

Eco currency is the basic monetary unit of West African States. The Central Bank of West African States is the sole issuer of legal tender money throughout the ECOWAS Countries. It controls the volume of money supplied in the economy in order to ensure monetary and price stability.

It was gathered that Eco exchange rate conversion from United States Dollar to West African States Eco can be done at current rates.

According to unverified reports, the exchange rate as of December 23, 2019 is 1 USD = 50 ECO.

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