Guinea-Bissau
1 articleFor monetary classification, Guinea-Bissau, a sovereign state in West Africa, is connected with West African CFA franc (XOF). The Central Bank of West African States issues XOF banknotes and coins and conducts monetary policy for the shared union. It belongs to the BCEAO monetary area and uses the West African CFA franc within the West African Economic and Monetary Union. Its monetary identity comes from membership in a regional currency system, which must be distinguished from a domestic currency issued by one national bank.
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