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Japanese Yen to West African CFA franc
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About Japanese Yen
The yen is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. It is also widely used as a third reserve currency after the US dollar and the euro.
The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as 1.5 g of gold, or 24.26 g of silver, and divided decimally into 100 sen or 1,000 rin. The yen replaced the previous Tokugawa coinage as well as the various hansatsu paper currencies issued by feudal han. The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply.
Following World War II, the yen lost much of its pre-war value as Japan faced a debt crisis and hyperinflation. Under the Bretton Woods system, the yen was pegged to the US dollar alongside other major currencies. After this system was abandoned in 1971 with the Nixon Shock, the short-lived Smithsonian Agreement temporarily reinstated a fixed exchange rate. However, since the end of that system in February 1973, the yen has been a floating currency. WikipediaAbout West African CFA franc
The West African CFA franc is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion as of 2018.
The initialism CFA stands for Communauté Financière Africaine. The currency is issued by the Central Bank of West African States, located in Dakar, Senegal, for the members of the UEMOA. The franc is nominally subdivided into 100 centimes but no coins or banknotes denominated in centimes have ever been issued. The production of CFA franc notes has been carried out at Chamalières by the Bank of France since its creation in 1945.
The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both commonly referred to as the CFA franc.
In December 2019 it was announced that the West African CFA franc would be reformed, which will include renaming it the eco and reducing France's role in the currency. Wikipedia