| Abstract: | The 55 countries and territories of Africa can be classified, from the monetary point of view into six major groups: the French franc area, the sterling area (including the South African rand), the Portuguese escudo area, the Spanish peseta area, a group of independent countries, some with new central banks, and others with a longer tradition of monetary independence. Except for a few national currency systems, most currencies of independent African countries belong, in one way or another, either to the French franc zone or to the sterling area. Sections of this study: The French franc zone - The sterling and other currency areas - The national monetary systems - Commercial banking. Notes. |