Malian franc
1 F. M. = 0.0033 DM
The Mali franc ( French Franc anomalies ) was the currency of Mali from 1 July 1962 to 1 July 1984, when he was replaced by the CFA franc. The currency was not freely convertible.
At its launch, a Mali -Franc corresponded to a CFA, the first devaluation took place already in 1963. A further devaluation followed on May 6, 1967.
Although Mali with the franc was a currency, left the country never officially the CFA franc zone, de facto, but it no longer belonged to the currency community.
History
The Mali franc was introduced as a result of independence to allow the country an independent from the rest of the CFA franc zone monetary and interest rate policy. At this time, Mali approached politically to the Eastern bloc; Coins and banknotes of the new currency and were manufactured in Czechoslovakia.
The Mali franc was introduced on 1 July 1962, replaced the previously applicable CFA franc. By 15 July 1962, the population had time to exchange their cash. The monetary independence was enforced by the government and was never really accepted by the Malians, since permanent fear of devaluations was. They preferred when trading with neighboring countries, especially Senegal, the CFA franc, which had remained legal tender in these countries. The government finally banned the conversion of Mali Franc CFA Franc, arrested and imprisoned user of the CFA franc and evaluated in 1967 the Mali franc from 50 % to revive the Malian economy. Since the Mali franc but never found acceptance in the land, Mali returned 1984 CFA franc back.
Coins and banknotes
The first coins of 5, 10 and 25 Francs of a year 1961 were issued in July 1962. A second series in aluminum bronze arrived in 1975, in circulation, this series was supplemented by a 100 -franc coin.
The first banknotes were dated to the date of exit from the Mali Federation on September 22, 1960 and were issued by the Banque de la Republique du Mali. The values of the banknotes were 50, 100, 500, 1000 and 5000 francs. From 1971, the Banque Centrale du Mali took over the issue of banknotes in the denomination value of 100 to 10,000 francs.