Updated: Apr 18
This large West African banknote represents the 1st denomination of the West African CFA Franc (Series 1991). The beautifully illustrated observe features a Tuareg man backed by Manantali Dam, in Mali. The reverse depicts a farmer on a garden tractor, in the form of an impressionist painting. Notably notes of the Series 1991 have been demonetized, replaced by the newer Series 2003. (Note Size: 140 x 78 mm or 5.51 x 3.07 in)
The CFA is a French institution which provides monetary services for France's former African colonies, via the French treasury.
The CFA manages 2 distinct, although interchangeable currencies the Central African and West African Francs.
The CFA Franc's ISO Codes are XAF (Central) and XOF (West).
The West African CFA Franc is the currency of 8 nations: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, and Togo.
West African Francs feature a letter to designate member state: Ivory Coast (A), Benin (B), Burkina Faso (C), Niger (H), Senegal (K), Mali (M), Guinea-Bissau (S), and Togo (T).
This note was issued by CFA member Senegal, designated by the observe's letter K.
On 22 December 2019, it was announced West African CFA Franc will be eventually be replaced by Eco.
The Eco will include members of the West African Monetary Zone (WAMZ).
The Eco draws influence from the similar European Union's Euro.
The current CFA Franc is pegged to the Euro,1 € = 6.559 CFA francs.