Report on Developments in the Exchange Rates of ECOWAS Currencies as at end November 2011
The stabilization of ECOWAS currencies exchange rates features prominently in the road map set out for the establishment of the sub-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 report on developments recorded at end November 2011 falls within this perspective. It provides a review of trends observed on the international foreign exchange market and gives 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.