How many West African nations agreed to change the name of their common currency from ‘CFA Franc’ to ‘Eco’ in December 2019?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e 8
1. Eight West African countries have agreed to change the name of their common currency from 'CFA franc' to 'Eco'
2. The CFA franc was initially pegged to the French franc and has been linked to the euro for about two decades.
3. The 8 West African countries namely- Ivory Coast, Mali, Burkina Faso, Benin, Niger, Senegal, Togo and Guinea-Bissau currently use CFA France as their currency.
4. All these countries, except Guinea-Bissau, are former French colonies.