REPORT ON EXCHANGE RATE DEVELOPMENTS OF ECOWAS CURRENCIES AT END JUNE 2018
This report on exchange rate developments in the first half of 2018 is part of the ECOWAS Monetary Cooperation Programme (EMCP). It reviews developments in the international foreign exchange market, which emphasis on currencies that make up the Special Drawing Right (SDR) to which the West African Unit of Account (WAUA) has a fixed peg .
It then provides a detailed analysis of the performance of the nominal exchange rates of ECOWAS member States’ currencies against the WAUA during the period under review.
Bilateral exchange rate developments for each currency as well as the external competitiveness of member States will be analysed.