For the first time since 2002, the euro and the US dollar have been close to parity. In the space of a year, the European currency has lost 13.2% of its value against the greenback. This has dragged down the CFA franc used in West and Central Africa, which lost 11.46% of its value against the dollar between 31 December 2021 and 11 July, its lowest level for twenty years.
Vera Songwe: Euro slump makes the CFA zone a victim of ‘imported inflation’

Pegged to the euro, the CFA franc used by 14 West and Central African countries has depreciated against the dollar along with the European currency. Bad news for imports and debt repayment in the region...