Mali - Money



The unit of currency is the Communaute Financiere Africaine franc (CFA) which is equivalent to 100 centimes. It exchanged at CFAF647.25 for US$1 in January 2000 a depreciation from CFAF499.15 in 1995. Since 1 January 1999, the CFA franc has been effectively pegged

Exchange rates: Mali
Communauté Financiére Africaine francs per US$1
Jan 2001 699.21
2000 711.98
1999 615.70
1998 589.95
1997 583.67
1996 511.55
Note: From January 1, 1999, the CFA Fr is pegged to the euro at a rate of 655.957 CFA Fr per euro.
SOURCE: CIA World Factbook 2001 [ONLINE].

GDP per Capita (US$)
Country 1975 1980 1985 1990 1998
Mali 268 301 271 249 267
United States 19,364 21,529 23,200 25,363 29,683
Nigeria 301 314 230 258 256
Mauritania 549 557 511 438 478
SOURCE: United Nations. Human Development Report 2000; Trends in human development and per capita income.

to the euro at a rate of CFAF655.957 per euro. Mali left the CFA franc zone in 1962 and established its own currency, the Malian franc (Mfr), at par with CFA franc and its own central bank. However, smuggling and speculation rapidly undermined the new Malian franc forcing it to rejoin the CFA franc zone in 1967. It did not, however, rejoin the sub-regional monetary organization, the Union Monetaire Ouest-Africaine (West African Monetary Union, UMOA) until 1984.

Also read article about Mali from Wikipedia

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