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We are receiving calls from market participants worried about financial market developments in the CFA franc zone and the impact on their trade activities. The overriding interest hovers around two interrelated possibilities (i) whether the CFA franc can be devalued and the principal drivers in favour of this option (ii) how imminent a devaluation of
Reigniting an old debate Dr Carlos Lopes, former Executive Secretary of the Economic Commission for Africa, last week reignited the perennial debate on the suitability of the CFA franc for franc zone economies, calling it antiquated. “No country in the world can have a monetary policy that remains unchanged for thirty years” he said, adding
FrancTrade view: Last week’s disappointing US non-farm payrolls undermined the US dollar against emerging market and major currencies. The US dollar is currently 5% weaker vs. the CFA franc compared with its high in November 2015. CFA franc importers should take advantage of current conducive market conditions, including multi-year lows in wheat prices and lock
