NIGER FRANC Meaning and
Definition
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Niger Franc refers to the former currency of the Republic of Niger, a landlocked country located in West Africa. The Niger Franc was the official currency of Niger from 1945 until 1973, when it was replaced by the West African CFA franc.
The Niger Franc was a legal tender within Niger during its circulation period. It consisted of both coins and banknotes, which were issued by the Central Bank of West African States (BCEAO) specifically for use within Niger. The currency's denominations included 1, 5, 10, 25, 50, 100, and 500 franc coins, as well as banknotes in denominations of 50, 100, 500, 1,000, 5,000, and 10,000 francs.
The Niger Franc was part of the West African Currency Union, alongside several other West African countries. This currency union facilitated economic cooperation and monetary stability among member countries, as they all shared the same currency, the CFA franc. The CFA franc was pegged to the euro, maintaining a fixed exchange rate.
In 1973, all member countries of the West African Currency Union, including Niger, decided to replace their individual currencies with the West African CFA franc. This change aimed to further strengthen economic integration and facilitate trade within the region. As a result, the Niger Franc ceased to exist as an independent currency, and its banknotes and coins were gradually phased out of circulation.
Common Misspellings for NIGER FRANC
- biger franc
- miger franc
- jiger franc
- higer franc
- nuger franc
- njger franc
- nkger franc
- noger franc
- n9ger franc
- n8ger franc
- nifer franc
- niver franc
- niber franc
- niher franc
- niyer franc
- niter franc
- nigwr franc
- nigsr franc
- nigdr franc
Etymology of NIGER FRANC
The term "Niger Franc" has its etymology rooted in the country Niger and the currency unit franc.
The name "Niger" comes from the Latin word "niger", which means "black". The country takes its name from the Niger River, which runs through it. The term "Niger" was adopted by the French when they colonized West Africa, and it became the official name of the territory.
The term "franc" has its origins in the Latin word "francus", meaning "free" or "liberal". The currency unit franc was first introduced by France in medieval times and was later adopted by many countries as their currency. The French franc was also used as the currency in their former colonies, including Niger.
Therefore, the term "Niger Franc" combines the name of the country Niger with the currency unit franc, indicating the national currency used in Niger.
