Timeline

• 19.05.1969
• Treaty between Equatorial Guinea and Spain on the establishment of a central bank and the creation of a national currency; effective 12.10.1969
• 12.10.1969
• Start of currency exchange:
  - 12.10.1969: Start of issuance of the new banknotes and coins
  - ??.??.????: Demonetization of the Spanish currency.

Valuation Regimes

• 1969-1975
• Fixed rate against Spanish Peseta

Timeline

• 25.09.1973
• Presidential decree [No. 30], renames the central bank (from "Central Bank" into "People's Bank") and currency; effective immediately
• 29.09.1975
• Start of currency exchange:
  - 17.12.1973: Start of issuance of postal stamps denominated "E"
  - 29.09.1975: Start of issuance of the new banknotes and coins (date unclear, the banknotes are dated 07.07.1975)
  - The former currency was probably not demonetized.
• 03.08.1979
• Presidential decree (or law), renames the central bank (from "People's Bank" into "Bank") revises the spelling of the currency name (from "Ekuele" into "Ekwele"); effective 15.03.1980
  - An exchange of banknotes and coins is likely (as they carried the portrait of the overthrown president).

Valuation Regimes

• 1975-1980
• Fixed rate against IMF Special Drawing Rights (SDR) unit
• 1980-1984
• Fixed rate against Spanish Peseta

Timeline

• 27.08.1984
• Treaty of Accession of Equatorial Guinea to the Central African Monetary Union; effective 01.01.1985
• 01.01.1985
• Start of currency exchange:
  - 01.01.1985: Determination of the exchange ratio of 1 Central African CFA Franc = 4 Equatorial Guinean Ekwele, corresponding to a devaluation by 82.0%
  - 02.01.1985: Start of issuance of Central African banknotes and coins with Spanish inscriptions
  - 01.06.1985: End of exchange period and demonetization of the former banknotes and coins
  - 31.12.1992: Demonetization of the Central African banknotes and coins with Spanish inscriptions.