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Guinea-Bissau Monetary Unit

Description

The Guinea-Bissau monetary unit refers to the currency used in Guinea-Bissau, a country located in West Africa. The official currency of Guinea-Bissau is the West African CFA franc (XOF), which is circulated alongside the Guinea-Bissau peso (GWP), a discontinued currency. The monetary unit plays a crucial role in facilitating financial transactions within the country.

Senses and Usages

1. West African CFA franc (XOF)

The West African CFA franc (XOF) is the official currency of Guinea-Bissau. It is also used in several other West African countries, including Benin, Burkina Faso, Ivory Coast, Mali, Niger, Senegal, and Togo. The CFA franc is subdivided into 100 centimes and is denoted by the symbol "₣". It is regulated by the Central Bank of West African States.

Sample Sentence:

"I exchanged my dollars for West African CFA francs before traveling to Guinea-Bissau."

2. Guinea-Bissau peso (GWP)

The Guinea-Bissau peso (GWP) was the former currency used in Guinea-Bissau until it was replaced by the West African CFA franc. Though discontinued, the term may be encountered in historical contexts or discussions about the country's financial past.

Sample Sentence:

"Old coins and banknotes from the Guinea-Bissau peso era can be found in numismatic collections."

Visit the official Central Bank of West African States website for more information: