Institutions
Strictly speaking, there are actually two different currencies called the CFA franc: the West African CFA franc (ISO 4217 currency code XOF), and the Central Africa CFA franc (ISO 4217 currency code XAF). They are distinguished in French by the meaning of the abbreviation CFA. These two CFA francs have the same exchange rate with the euro (1 euro = 655.957 XOF = 655.957 XAF), and they are both guaranteed by the French treasury (Trésor public), but the West African CFA franc cannot be used in Central African countries, and the Central Africa CFA franc cannot be used in West African countries.
Read more about this topic: CFA Franc
Famous quotes containing the word institutions:
“Have we no culture, no refinement,—but skill only to live coarsely and serve the Devil?—to acquire a little worldly wealth, or fame, or liberty, and make a false show with it, as if we were all husk and shell, with no tender and living kernel to us? Shall our institutions be like those chestnut burs which contain abortive nuts, perfect only to prick the fingers?”
—Henry David Thoreau (1817–1862)
“The American people owe it to themselves, and to the cause of free Government, to prove by their establishments for the advancement and diffusion of knowledge, that their political Institutions ... are as favorable to the intellectual and moral improvement of Man as they are conformable to his individual and social rights.”
—James Madison (1751–1836)
“In my short experience of human life, the outward obstacles, if there were any such, have not been living men, but the institutions of the dead.”
—Henry David Thoreau (1817–1862)