EXCHANGE RATE DEVELOPMENTS IN ECOWAS AT END-DECEMBER 2021
The Exchange Rate Developments Report is prepared by the West African Monetary Agency
(WAMA) based on directive of the Committee of Governors. It is a biannual publication that
discusses exchange rate developments in the Economic Community of West African States
(ECOWAS). This report discussed exchange rate developments in ECOWAS with emphasis on
global, regional and bilateral exchange rate performances mainly using the West African Unit of
Account1
(WAUA) vis-à-vis other international currencies, the United States dollar against
selected international currencies as well as the ECOWAS Member States’ currencies against one
another.