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Report on Exchange Rate Developments of ECOWAS Currencies as at end 2016

This report on exchange rate developments in 2016 is part of the monitoring of the stabilization of exchange rates of ECOWAS national currencies, which is a main activity under the Roadmap for the creation of the ECOWAS single currency. It contains the analysis of the world economic and financial environment, a review of the evolution of the major foreign currencies and local currencies of ECOWAS Member States, an explanation of factors behind the exchange rate movements and their implications for the respective economies in the region.