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France Stands by Valuation of African Euro-Pegged Currencies
ABIDJAN (Capital Markets in Africa) — France will continue to guarantee the euro peg of the west and central Africa’s common currencies and sees no need to devalue the units. The coronavirus outbreak has limited inflows of hard currency to the monetary blocs of mostly former French colonies that are struggling with the collapse of oil prices, lower trade, and the flight of investors to safe havens. “We do not see a need for adjusting…
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