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b Mauritius and the Seychelles are to the east and north-east of Madagascar respectively. East Africa Time, or EAT, is a time zone used in eastern Africa. The time zone is three hours ahead of UTC ( UTC+03:00 ), which is the same as Moscow Time, Arabia Standard Time, Further-eastern European Time and Eastern European Summer Time. [1]
This article needs to be updated. (June 2012) Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world. [1] An exchange rate represents the value of one currency in another. An exchange rate between two currencies fluctuates over time.
On 22 December 2019, it was announced that the West African currency would be reformed and replaced by an independent currency to be called Eco. Both CFA francs have a fixed exchange rate (peg) to the euro: €1 = F.CFA 655.957 exactly, and member countries deposited half of their foreign exchange reserves with the French Treasury.
The history of East Africa has been divided into its prehistory, the major polities flourishing, the colonial period, and the post-colonial period, in which the current nations were formed. East Africa is the eastern region of Africa, bordered by North Africa, Central Africa, Southern Africa, the Indian Ocean, and the Sahara Desert.
The East African shilling was introduced to Kenya, Tanganyika, and Uganda in 1921, replacing the short-lived East African florin at a rate of 2 shillings to 1 florin. The florin had been introduced because of increasing silver prices after World War I. At that time, the Indian rupee was the currency of the British East African states.
East Africa, also known as Eastern Africa or the East of Africa, is a region at the eastern edge of the African continent, distinguished by its geographical, historical, and cultural landscape.
The Economic and Monetary Community of Central Africa (or CEMAC from its name in French: Communauté Économique et Monétaire de l'Afrique Centrale, in Spanish: Comunidad Económica y Monetaria de África Central, and in Portuguese: Comunidade Económica e Monetária da África Central) is an organization of states of Central Africa established by Cameroon, Central African Republic, Chad ...
The new treaty was proposed with plans drawn up in 2004 to introduce a monetary union with a common currency, the East African shilling, some time between 2012 and 2015. There were also plans for a political union , the East African Federation, with a common President (initially on a rotation basis) and a common parliament by 2010.
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