Historical Sketch

The territories around the Ubangi and Shari rivers were taken into French possession in the late 19th century, and in 1903 the Ubangi-Shari colony was founded. In 1946, the colony was transformed into an overseas territory and in preparation for the French Union it got constituted as autonomous Central African Republic in 1958. Two years later, after the failure of the French Union, it attained independence. In 1976, long-time president Bokassa declared himself emperor. The "Central African Empire" was short-lived and disappeared again in 1979, when the emperor got ousted in a military coup.

Monetary History Overview

Since independence in 1960, the Central African Republic is a member of the Central African Monetary Union and uses the Central African CFA Franc instead of a national currency. In April 2022, the Central African Republic has become the second country in the world to declare Bitcoin legal tender.

The Central African Republic joined the International Monetary Fund (IMF) on 10.07.1963.

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Monetary History Sources