Mauritania revamps currency to fight inflation [Business Africa]

Mauritania issues new currency

Mauritania starts the new year with the introduction of a new currency. Ten Mauritanian Ouguiyas become one Ouguiya (0.03 DOLLARS). The new notes came into circulation on Monday, forcing many banks to exceptionally open to customers on January 1.

According the president of the country, the revamp will protect the public’s purchasing power and reduce the amount of currency in circulation.

Professor Chérif Salif SY joined us from Dakar for more on that report.