1.
French language
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French is a Romance language of the Indo-European family. It descended from the Vulgar Latin of the Roman Empire, as did all Romance languages, French has evolved from Gallo-Romance, the spoken Latin in Gaul, and more specifically in Northern Gaul. Its closest relatives are the other langues doïl—languages historically spoken in northern France and in southern Belgium, French was also influenced by native Celtic languages of Northern Roman Gaul like Gallia Belgica and by the Frankish language of the post-Roman Frankish invaders. Today, owing to Frances past overseas expansion, there are numerous French-based creole languages, a French-speaking person or nation may be referred to as Francophone in both English and French. French is a language in 29 countries, most of which are members of la francophonie. As of 2015, 40% of the population is in Europe, 35% in sub-Saharan Africa, 15% in North Africa and the Middle East, 8% in the Americas. French is the fourth-most widely spoken mother tongue in the European Union, 1/5 of Europeans who do not have French as a mother tongue speak French as a second language. As a result of French and Belgian colonialism from the 17th and 18th century onward, French was introduced to new territories in the Americas, Africa, most second-language speakers reside in Francophone Africa, in particular Gabon, Algeria, Mauritius, Senegal and Ivory Coast. In 2015, French was estimated to have 77 to 110 million native speakers, approximately 274 million people are able to speak the language. The Organisation internationale de la Francophonie estimates 700 million by 2050, in 2011, Bloomberg Businessweek ranked French the third most useful language for business, after English and Standard Mandarin Chinese. Under the Constitution of France, French has been the language of the Republic since 1992. France mandates the use of French in official government publications, public education except in specific cases, French is one of the four official languages of Switzerland and is spoken in the western part of Switzerland called Romandie, of which Geneva is the largest city. French is the language of about 23% of the Swiss population. French is also a language of Luxembourg, Monaco, and Aosta Valley, while French dialects remain spoken by minorities on the Channel Islands. A plurality of the worlds French-speaking population lives in Africa and this number does not include the people living in non-Francophone African countries who have learned French as a foreign language. Due to the rise of French in Africa, the total French-speaking population worldwide is expected to reach 700 million people in 2050, French is the fastest growing language on the continent. French is mostly a language in Africa, but it has become a first language in some urban areas, such as the region of Abidjan, Ivory Coast and in Libreville. There is not a single African French, but multiple forms that diverged through contact with various indigenous African languages, sub-Saharan Africa is the region where the French language is most likely to expand, because of the expansion of education and rapid population growth
2.
Currency
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A currency in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money in common use, under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognized stores of value and are traded between nations in exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance, other definitions of the term currency are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the systems of nations, is the topic of this article. Currencies can be classified into two systems, fiat money and commodity money, depending on what guarantees the value. Some currencies are legal tender in certain jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value, digital currency has arisen with the popularity of computers and the Internet. Currency evolved from two basic innovations, both of which had occurred by 2000 BC, originally money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia, then Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities and this formed the basis of trade in the Fertile Crescent for over 1500 years. Trade could only reach as far as the credibility of that military and it is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse, possibly produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end. In Africa, many forms of value store have been used, including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, the manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, and in many various forms of barter still apply. These factors led to the metal itself being the store of value, first silver, now we have copper coins and other non-precious metals as coins. Metals were mined, weighed, and stamped into coins and this was to assure the individual taking the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but they created a new unit of account. Most major economies using coinage had several tiers of coins, using a mix of copper, silver, gold coins were used for large purchases, payment of the military and backing of state activities, they were more often used as measures of account than physical coins
3.
West African CFA franc
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The West African CFA franc is the currency of eight independent states in West Africa, Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. These eight countries have a population of 105.7 million people. The acronym CFA stands for Communauté Financière dAfrique or Communauté Financière Africaine, the currency is issued by the BCEAO, located in Dakar, Senegal, for the members of the UEMOA. The franc is nominally subdivided into 100 centimes but no centime denominations have been issued, the Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both the CFA franc, the CFA franc was introduced to the French colonies in West Africa in 1945, replacing the French West African franc. The West African colonies and territories using the CFA franc were Ivory Coast, Dahomey, French Sudan, Mauritania, Niger, Sénégal, Togo and Upper Volta. The currency continued in use when these colonies gained their independence, except in Mali, in 1973, Mauritania replaced the CFA franc with the ouguiya at a rate of 1 ouguiya =5 francs. Mali readopted the CFA franc in 1984, at a rate of 1 CFA franc =2 Malian francs, the former Portuguese colony of Guinea-Bissau adopted the CFA franc in 1997, replacing the Guinea Bissau peso at a rate of 1 CFA franc =65 pesos. In 1948, aluminium 1- and 2-franc coins were introduced and these were followed in 1956 by aluminium-bronze 5,10 and 25 francs. All carried the name Afrique Occidentale Française, in 1957, 10- and 25-franc coins were issued with the name of Togo added. From 1959, coins have been issued by the BCEAO, nickel 100-franc coins were introduced in 1967, followed by the cupro-nickel 50-franc coins in 1972. Small, steel 1-franc coins were introduced in 1976, followed by bimetallic 250 francs in 1992, in 2003, bimetallic 200- and 500-franc coins were introduced. When the CFA franc was introduced, notes issued by the Banque Centrale des États de lAfrique Occidentale in denominations of 5,10,25,50,100 and 1000 francs were in circulation. 500-franc notes were added in 1946, followed by those of 5,000 francs in 1948, in 1955, the Institut dEmission de lA. O. F. Et du Togo took over the production of money, issuing notes for 50,100,500 and 1000 francs. In 1959, the BCEAO took over the issuance of money and reintroduced a 5. With the exception of a few issues, the notes of the BCEAO carry a letter to indicate the country of issuance. 50-franc notes were last issued in 1959, with 100 francs not issued since 1965, the newer notes contain updated security features and are more modern in design
4.
Central African CFA franc
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The Central African CFA franc is the currency of six independent states in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries have a population of 48.0 million people. CFA stands for Coopération financière en Afrique centrale and it is issued by the BEAC, located in Yaoundé, Cameroon, for the members of the CEMAC. The franc is nominally subdivided into 100 centimes but no centime denominations have been issued, in several west African states, the West African CFA franc, which is of equal value to the Central African CFA franc, is in circulation. The CFA franc was introduced to the French colonies in Equatorial Africa in 1945, the Equatorial African colonies and territories using the CFA franc were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari. The currency continued in use when these colonies gained their independence, Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA franc in 1984, replacing the Equatorial Guinean ekwele at a rate of 1 franc =4 bipkwele. In 1948, coins were issued for use in all the colonies in denominations of 1 and 2 francs and this was the last issue of a 2-franc coin for nearly 50 years. In 1958, 5-, 10- and 25-franc coins were added and these bore the name Cameroun in addition to États de lAfrique Equatoriale. In 1961, nickel 50-franc coins were introduced, followed by nickel 100-franc pieces in 1966, from 1971, the 100-franc coins were issued by the individual states. In 1976, cupro-nickel 500-franc coins were introduced, from 1985, these were also issued by the individual states. That year also saw the introduction of 5-, 25-, 50-, in 1996, centralized production of the 100-franc coin was resumed, with a single 500-franc coin reintroduced in 1998. In 2006, a steel 2-franc coin was introduced, when the CFA franc was introduced, notes issued by the Caisse Centrale de la France dOutre-Mer in denominations of 5,10,20,100 and 1000 francs were in circulation. In 1947, a new series of notes was introduced for use in French Equatorial Africa, notes were issued in denominations of 5,10,20,50,100 and 1000 francs, followed by those of 500 francs in 1949, and 5000 francs in 1952. In 1957, the Institut dEmission de lAfrique Equatoriale Française et du Cameroun took over paper money production, in 1961, the Banque Centrale des Etats de lAfrique Equatoriale et du Cameroun took over banknote production, with notes below 100 francs ceasing to be issued. The name of the changed to Banque Centrale des Etats de lAfrique Equatoriale in 1963. 10, 000-franc notes were introduced in 1968, whilst the 100-franc notes were replaced by coins in 1971, since then, the banknotes have been issued with only a letter prominently displayed to distinguish between the issues of the different states. 2000 franc notes were introduced in 1993
5.
ISO 4217
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The ISO4217 code list is used in banking and business globally. ISO4217 codes are used on tickets and international train tickets to remove any ambiguity about the price. The first two letters of the code are the two letters of the ISO 3166-1 alpha-2 country codes and the third is usually the initial of the currency itself, so Japans currency code is JPY—JP for Japan and Y for yen. This eliminates the problem caused by the dollar, franc, peso and pound being used in dozens of different countries. Also, if a currency is revalued, the currency codes last letter is changed to distinguish it from the old currency. Other changes can be seen, however, the Russian ruble, for example, changed from RUR to RUB and these currency units are denominated as one troy ounce of the specified metal as opposed to USD1 or EUR1. The code XTS is reserved for use in testing, the code XXX is used to denote a transaction involving no currency. There are also codes specifying certain monetary instruments used in international finance, the codes for most supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO. The predecessor to the euro, the European Currency Unit, had the code XEU, the use of an initial letter X for these purposes is facilitated by the ISO3166 rule that no official country code beginning with X will ever be assigned. Because of this rule ISO4217 can use X codes without risk of clashing with a country code. ISO3166 country codes beginning with X are used for private custom use, consequently, ISO4217 can use X codes for non-country-specific currencies without risk of clashing with future country codes. The inclusion of EU in the ISO 3166-1 reserved codes list, the ISO4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the exponent and assumes a base of 10. For example, USD is equal to 100 of its currency unit the cent. So the USD has exponent 2, the code JPY is given the exponent 0, because its minor unit, the sen, although nominally valued at 1/100 of a yen, is of such negligible value that it is no longer used. Usually, as with the USD, the currency unit has a value that is 1/100 of the major unit, but in some cases 1/1000 is used. Mauritania does not use a decimal division of units, setting 1 ouguiya equal to 5 khoums, some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value. There is also a code number assigned to each currency
6.
Fixed exchange-rate system
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There are benefits and risks to using a fixed exchange rate. In doing so, the rate between the currency and its peg does not change based on market conditions, the way floating currencies do. A fixed exchange-rate system can also be used as a means to control the behavior of a currency, however, in doing so, the pegged currency is then controlled by its reference value. In other words, a currency is dependent on its reference value to dictate how its current worth is defined at any given time. The central bank provides the assets and/or the foreign currency or currencies which are needed in order to any payments imbalances. In the 21st century, the associated with large economies typically do not fix or peg exchange rates to other currencies. The last large economy to use a fixed exchange system was the Peoples Republic of China which, in July 2005. The European Exchange Rate Mechanism is also used on a basis to establish a final conversion rate against the Euro from the local currencies of countries joining the Eurozone. The gold standard or gold standard of fixed exchange rates prevailed from about 1870 to 1914. The period between the two wars was transitory, with the Bretton Woods system emerging as the new fixed exchange rate regime in the aftermath of World War II. It was formed with an intent to rebuild war-ravaged nations after World War II through a series of currency stabilization programs, the early 1970s saw the breakdown of the system and its replacement by a mixture of fluctuating and fixed exchange rates. Timeline of the exchange rate system, The earliest establishment of a gold standard was in the United Kingdom in 1821 followed by Australia in 1852. Under this system, the value of all currencies was denominated in terms of gold with central banks ready to buy. Each central bank maintained gold reserves as their official reserve asset, for example, during the “classical” gold standard period, the U. S. dollar was defined as 0.048 troy oz. of pure gold. Following the Second World War, the Bretton Woods system replaced gold with the U. S. dollar as the reserve asset. The regime intended to combine binding legal obligations with multilateral decision-making through the International Monetary Fund, the rules of this system were set forth in the articles of agreement of the IMF and the International Bank for Reconstruction and Development. S. Dollar and to exchange rates within 1% of parity by intervening in their foreign exchange markets. In December 1971, the Smithsonian Agreement paved the way for the increase in the value of the price of gold from US$35.50 to US$38 an ounce
7.
Euro
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Outside of Europe, a number of overseas territories of EU members also use the euro as their currency. Additionally,210 million people worldwide as of 2013 use currencies pegged to the euro, the euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. The name euro was adopted on 16 December 1995 in Madrid. The euro was introduced to world markets as an accounting currency on 1 January 1999. While the euro dropped subsequently to US$0.8252 within two years, it has traded above the U. S. dollar since the end of 2002, peaking at US$1.6038 on 18 July 2008. In July 2012, the euro fell below US$1.21 for the first time in two years, following concerns raised over Greek debt and Spains troubled banking sector, as of 26 March 2017, the euro–dollar exchange rate stands at ~ US$1.07. The euro is managed and administered by the Frankfurt-based European Central Bank, as an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all states. The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria, all nations that have joined the EU since 1993 have pledged to adopt the euro in due course. Since 5 January 2002, the central banks and the ECB have issued euro banknotes on a joint basis. Euro banknotes do not show which central bank issued them, Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the value of banknotes issued by the Eurosystem. In practice, the ECBs banknotes are put into circulation by the NCBs and these liabilities carry interest at the main refinancing rate of the ECB. The euro is divided into 100 cents, in Community legislative acts the plural forms of euro and cent are spelled without the s, notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a side showing the denomination or value. Due to the plurality in the European Union, the Latin alphabet version of euro is used. For the denominations except the 1-, 2- and 5-cent coins, beginning in 2007 or 2008 the old map is being replaced by a map of Europe also showing countries outside the Union like Norway
8.
French franc
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The franc, also commonly distinguished as the French franc, was a currency of France. Between 1450 and 1999, it was the name of coins worth 1 livre tournois and it was revalued in 1960, with each new franc being worth 100 old francs. The French franc was a commonly held reserve currency of reference in the 19th and 20th centuries. The first franc was a gold coin introduced in 1360 to pay the Ransom of King John II of France and this coin secured the kings freedom and showed him on a richly decorated horse earning it the name franc à cheval. The obverse legend, like other French coins, gives the title as Francorum Rex. Its value was set as one livre tournois, john’s son, Charles V, continued this type. It was copied exactly at Brabant and Cambrai and, with the arms on the horse cloth changed, conquests led by Joan of Arc allowed Charles VII to return to sound coinage and he revived the franc à cheval. John II, however, was not able to strike enough francs to pay his ransom, John II died as a prisoner in England and his son, Charles V was left to pick up the pieces. Charles V pursued a policy of reform, including stable coinage, an edict dated 20 April 1365 established the centerpiece of this policy, a gold coin officially called the denier d’or aux fleurs de lis which had a standing figure of the king on its obverse. Its value in money of account was one livre tournois, just like the franc à cheval, in accordance with the theories of the mathematician, economist and royal advisor Nicolas Oresme, Charles struck fewer coins of better gold than his predecessors. In the accompanying deflation both prices and wages fell, but wages fell faster and debtors had to settle up in better money than they had borrowed, the Mayor of Paris, Etienne Marcel, exploited their discontent to lead a revolt which forced Charles V out of the city. The States General which met at Blois in 1577 added to the pressure to stop currency manipulation. Henry III agreed to do this and he revived the franc and this coin and its fractions circulated until 1641 when Louis XIII of France replaced it with the silver Écu. Nevertheless, the franc continued in accounting as a synonym for the livre tournois. The decimal franc was established as the currency by the French Revolutionary Convention in 1795 as a decimal unit of 4.5 g of fine silver. This was slightly less than the livre of 4.505 g, silver coins now had their denomination clearly marked as “5 FRANCS” and it was made obligatory to quote prices in francs. e. Coinage with explicit denominations in decimal fractions of the franc also began in 1795, decimalization of the franc was mandated by an act of 7 April 1795, which also dealt with of weights and measures. France’s first decimal coinage used allegorical figures symbolizing revolutionary principles, like the designs the United States had adopted in 1793
9.
French West Africa
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French West Africa was a federation of eight French colonial territories in Africa, Mauritania, Senegal, French Sudan, French Guinea, Ivory Coast, Upper Volta, Dahomey and Niger. The capital of the federation was Dakar, the federation existed from 1895 until 1960. Until after the Second World War almost all the Africans living in the colonies of France were not citizens of France, rather, they were French Subjects, lacking rights before the law, property ownership rights, rights to travel, dissent, or vote. Anyone able to prove they were born in these towns was legally French and they could vote in parliamentary elections, which had been previously dominated by white and Métis residents of Senegal. The Four Communes of Senegal were entitled to elect a Deputy to represent them in the French Parliament in the years 1848–1852, 1871–1876, in 1914, the first African, Blaise Diagne, was elected as the Deputy for Senegal in the French Parliament. In 1916, Diagne pushed through the National Assembly a law granting citizenship to all residents of the so-called Four Communes. In return, he had promised to help millions of Africans to fight in World War I. Thereafter, all black Africans of Dakar, Gorée, Saint-Louis and these conquered areas were usually governed by French Army officers, and dubbed Military Territories. The first Governor General of Senegal was named in 1895, and in 1904, Gabon would later become the seat of its own federation French Equatorial Africa, which was to border its western neighbor on the modern boundary between Niger and Chad. While the latter fell to Free France already after the Battle of Gabon in November 1940, following World War II, the French government began a process of extending limited political rights in its colonies. In 1945 the French Provisional Government allocated ten seats to French West Africa in the new Constituent Assembly called to write a new French Constitution, of these five would be elected by citizens and five by African subjects. The elections brought to prominence a new generation of French-educated Africans and they were all re-elected to the 2nd Constituent Assembly on 2 June 1946. In 1946, the Loi Lamine Guèye granted some limited rights to natives of the African colonies. The French Empire was renamed the French Union on 27 October 1946, in late 1946 under this new constitution each territory was for the first time able elect local representatives, albeit on a limited franchise, to newly established General Councils. These elected bodies had only limited powers, although they did approve local budgets. The Loi Cadre of 23 June 1956 brought universal suffrage to elections held after that date in all French African colonies, the first elections under universal suffrage in French West Africa were the municipal elections of late 1956. On 31 March 1957, under universal suffrage, territorial Assembly elections were held in each of the eight colonies, the leaders of the winning parties were appointed to the newly instituted positions of Vice-Presidents of the respective Governing Councils — French Colonial Governors remained as Presidents. The Constitution of the French Fifth Republic of 1958 again changed the structure of the colonies from the French Union to the French Community, each territory was to become a Protectorate, with the consultative assembly named a National Assembly
10.
French Equatorial Africa
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Established in 1910, the federation contained five territories, French Congo, Gabon, Oubangui-Chari, Chad, and French Cameroon, although the last was not organized as a separate entity until 1920. The Governor-General was based in Brazzaville with deputies in each territory, in 1911, France ceded parts of the territory to German Kamerun as a result of the Agadir Crisis. The territory was returned after Germanys defeat in World War I, during the late 1920s and early 1930s an anti-colonial movement Société Amicale des Originaires de lA. E. F. was established by André Matsoua, seeking French citizenship for the territorys inhabitants. Under the Fourth Republic, the federation was represented in the French parliament, when the territories voted in the September 1958 referendum to become autonomous within the French Community, the federation was dissolved. In 1959 the new republics formed an association called the Union of Central African Republics. Until 1934, French Equatorial Africa was a federation of French colonies like French West Africa and that year, however, the AEF became a unitary entity and its constituent colonies became known as regions, later becoming known as territories in 1937. There was a budget for the unified colony, prior to unification. As of 1942, the AEF was administered by a governor-general, however, his power was limited in practice by Frances centralising colonial policy. Most important legislation is enacted in Paris, wrote the authors of the 1942 British naval intelligence handbook for the colony, whilst the governor-general fills in minor details and penalties. The governor-general was assisted by a council of administration composed of important local officials and some members. Under the unified colony, three of the constituent territories were administered by a governor, while Moyen-Congo was under the purview of the governor-general, each had a council of local interests similar to the council of administration. Locally, the territories were subdivided into départments and subdivisions overseen by appointed officials, the only municipalities were the capitals of the territories, which were classified as communes mixtes as opposed to Senegals communes de plein exercise which had democratically elected councils. Although these municipalities possessed certain powers of local self-government, their mayors, territories, Chad Oubangui-Chari French Congo Gabon The postal administrations of the four territories were separate until 1936, each issuing its own stamps. In that year, stamps of Gabon and Middle Congo were overprinted AFRIQUE / ÉQUATORIALE / FRANÇAISE, a definitive series for the colony followed in 1937, featuring local scenes and key figures in the formation of the colony, with various color and value changes each year through 1940. The 1937 series was overprinted AFRIQUE FRANÇAISE / LIBRE or just LIBRE in 1940 by the Free French, List of colonial heads of French Equatorial Africa French colonial empire French West Africa List of French possessions and colonies French colonial flags French North Africa Pakenham, Thomas
