Developments in the Exchange Rates of ECOWAS Currencies as at End November 2012
The stabilization of the exchange rates of ECOWAS currencies features prominently in the road map set out for the establishment of the regional Single Currency. This is considered as a continuous process to be finalized two years prior to the launch of the Single Currency. Hence, the need for keen monitoring of trends in the exchange rates of ECOWAS currencies. This monthly report which highlights exchange rates developments in ECOWAS as at end November 2012 falls within this perspective. It provides a review of major trends on the international foreign exchange market and a comprehensive analysis of the behaviour of ECOWAS currencies in relation to the WAUA (West Africa Unit of Account) before examining trends in the bilateral exchange rates.