The Malian franc was the independent currency of Mali between 1962 and 1984. Although technically subdivided into 100 centimes, no subdivisions were issued.
Until 1962, Mali used the West African CFA franc. The Malian franc was introduced that year at par with the CFA franc, but devalued relative to it in 1967 due to greater inflation in the country than had occurred in the CFA franc zone. In 1984, Mali readopted the CFA franc, with 2 Malian francs = 1 CFA franc.
Exchange ratesedit
1 July 1962 to 4 May 1967: Peg with the French franc (1 MLF = 0.02 FRF = 1 XOF).
5 May 1967 to 31 May 1984: Devalued by 50% (1 MLF = 0.01 FRF = 0.50 XOF) due to greater inflation in Mali than in countries using the CFA franc.
On 1 June 1984, Mali readopted the CFA franc, worth two Malian francs.
Coinsedit
In 1962, aluminium coins were issued (dated 1961) in denominations of 5, 10 and 25 francs. A second issue of aluminium and nickel-brass were issued between 1975 and 1977 in denominations of aluminium 10, 25, nickel-brass 50 and 100 francs coins.
Banknotesedit
Banknotes dated 22 SEPTEMBRE 1960 were issued by the Banque de la République du Mali (Bank of the Republic of Mali) in 1962 in denominations of 50, 100, 500, 1,000 and 5,000 francs. A second issue with new designs were issued in 1967 in the same denominations as the previous series. Following Modibo Keita's overthrow on 19 November 1968, the Banque Centrale du Mali (Central Bank of Mali) was established, and took over note production with the 1971 introduction of a third series of 100, 500, 1000, 5000 and 10,000 francs notes.[1]
Referencesedit
^Linzmayer, Owen (2012). "Mali". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
malian, franc, independent, currency, mali, between, 1962, 1984, although, technically, subdivided, into, centimes, subdivisions, were, issued, franc, malien, french, 4217codemlfunitsymbolmaf, denominationssubunit, 100centimebanknotes50, 1000, 5000, francscoin. The Malian franc was the independent currency of Mali between 1962 and 1984 Although technically subdivided into 100 centimes no subdivisions were issued Malian francfranc malien French ISO 4217CodeMLFUnitSymbolMAF DenominationsSubunit 1 100centimeBanknotes50 100 500 1000 5000 10 000 francsCoins5 10 25 50 100 francsDemographicsDate of introduction1962ReplacedWest African CFA franc 1 XOF 1 MLF Date of withdrawal1984Replaced byWest African CFA franc 2 MLF 1 XOF User s MaliIssuanceCentral bankCentral Bank of MaliValuationPegged withFrench franc 100 Malian francsThis infobox shows the latest status before this currency was rendered obsolete Contents 1 History 1 1 Exchange rates 2 Coins 3 Banknotes 4 References 5 External linksHistory editUntil 1962 Mali used the West African CFA franc The Malian franc was introduced that year at par with the CFA franc but devalued relative to it in 1967 due to greater inflation in the country than had occurred in the CFA franc zone In 1984 Mali readopted the CFA franc with 2 Malian francs 1 CFA franc Exchange rates edit 1 July 1962 to 4 May 1967 Peg with the French franc 1 MLF 0 02 FRF 1 XOF 5 May 1967 to 31 May 1984 Devalued by 50 1 MLF 0 01 FRF 0 50 XOF due to greater inflation in Mali than in countries using the CFA franc On 1 June 1984 Mali readopted the CFA franc worth two Malian francs Coins editIn 1962 aluminium coins were issued dated 1961 in denominations of 5 10 and 25 francs A second issue of aluminium and nickel brass were issued between 1975 and 1977 in denominations of aluminium 10 25 nickel brass 50 and 100 francs coins Banknotes editBanknotes dated 22 SEPTEMBRE 1960 were issued by the Banque de la Republique du Mali Bank of the Republic of Mali in 1962 in denominations of 50 100 500 1 000 and 5 000 francs A second issue with new designs were issued in 1967 in the same denominations as the previous series Following Modibo Keita s overthrow on 19 November 1968 the Banque Centrale du Mali Central Bank of Mali was established and took over note production with the 1971 introduction of a third series of 100 500 1000 5000 and 10 000 francs notes 1 References edit Linzmayer Owen 2012 Mali The Banknote Book San Francisco CA www BanknoteNews com Tables of modern monetary history MaliExternal links edit nbsp Africa portal nbsp Mali portal nbsp Money portal nbsp Numismatics portal Coins Country debt review Banknotes Preceded by CFA francReason independenceRatio at par Currency of Mali 1962 1984 Succeeded by West African CFA francReason rejoining in the monetary unionRatio 1 CFA franc 2 Malian francs nbsp This article about a unit of currency is a stub You can help Wikipedia by expanding it vte nbsp This Mali related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Malian franc amp oldid 1177645323, wikipedia, wiki, book, books, library,
