Eco Currency is a new money currency that the West African Countries will adopt in 2020. The major goal of Eco Currency is to merge the West African CFA franc as well as Ghana Cedi and Nigerian Naira. This will create a common currency within the WA Countries.
ECOWAS, the Economic Community for West African States have adopted a single currency named Eco, which it plans to launch next year.
As part of its plans to make Africa a more integrated continent, leaders of ECOWAS adopted the name ‘ECO‘ for a planned single currency to be used in the region.
The Eco was adopted on Saturday in Abuja in a meeting of the 15 member-country regional bloc.
The launch of the operational phase of the African Continental Free Trade Agreement (AfCFTA) is expected later this week (December, 2019), while the 15 ECOWAS countries, adopted ‘ECO’ as the name of the region’s planned shared currency, and agreed for a flexible currency regime towards improving integration and trade in the region.
When will Eco Eurrency be released?
The new chairperson of the Authority, President Mahamadou Issoufou said, according to the revised roadmap, the single Eco currency will be released in January 2020.
List of Countries using Eco Currency
Below are list of countries to adopt the use of Eco Currency when finally released.
- Burkina Faso
- Cabo Verde (Cape Verde)
- Côte d’Ivoire (Ivory Coast)
- The Gambia
- Saint Helena
- Sierra Leone
What is Eco Currency?
Eco currency is the basic monetary unit of West African States. The Central Bank of West African States is the sole issuer of legal tender money throughout the Ecowas Countries. It controls the volume of money supplied in the economy in order to ensure monetary and price stability.
West African Eco Currency Exchange Rate Today
Eco Exchange Rate today conversion from United States dollar to West Africa States Eco can be done at current rates as well as at historical rates. The Exchnage rate today is 1 USD = 50 ECO (Unverified yet!).
Eco currency value
The value of Eco Currency is still pending and as more progress is made, this post will be updated for the value of Eco Currency in all african countries and other continents.
Eco currency notes
The Eco currency is notes has a splendor design with a glaring feature of great african legends together with relief features of West Africa.