The sports category has moved to a new website.

Mauritanian national currency Ouguiya gets new look and value

Mauritania Central Bank hopes to phase out all the old bank notes over the next six months

Mauritania national currency, the ouguiya, has gotten a new colourful make-over and worth.

As of 1st January 2018, the currency dropped a zero, meaning ten old ouguiya now equals one ouguiya.

Mauritania Central Bank hopes to phase out all the old bank notes over the next six months, starting with the largest denomination of 5000 Ouguiya.

ADVERTISEMENT

The government says the move aims to protect purchasing power and reduce the amount of money in circulations.

President Mohamed Ould Abdel Aziz announced the change on November 28, the West African state's national holiday.

Citizens and Business people have welcomed the new ouguiya saying it would go a long way in dealing with inflation and reduce forgery.

The ouguiya had lost ground against the US dollar and euro on the black market in the months before the announcement, and the trend accelerated afterwards, as people sought foreign currency.

The last currency overhaul in Mauritania was in 2004, when the country replaced all banknotes in circulation since 1974.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT