Here is the complete financial historical report of Mauritania, in International English, as requested:

Financial Historical Report of Mauritania

Basic Data

• Country ISO Code: MR

• Official Language: Arabic

• Language ISO Code: ar

• Current Official Currency: Mauritanian Ouguiya (new)

• Currency ISO Code: MRU

• Issuing Authority: Central Bank of Mauritania

• Mint: Kremnica Mint (Slovakia) and Canadian banknote printing company

Currency History in Mauritania

1. Use of the West African CFA Franc

• Until 1973, Mauritania used the West African CFA franc, a common currency for several former French colonies in Africa.

• The CFA franc circulated since 1919, gradually replacing the old French franc coins and notes.

• The exchange rate was 1 old ouguiya = 5 CFA francs.

2. Old Mauritanian Ouguiya (1973–2018)

• In 1973, Mauritania introduced its own national currency, the old ouguiya, replacing the CFA franc at a rate of 1 ouguiya = 5 CFA francs.

• Initial banknotes were issued in denominations of 100, 200, and 1000 ouguiyas, followed by 500, 2000, and 5000 ouguiyas.

• Banknotes were printed by Giesecke & Devrient in Germany.

• Coins included denominations of 1, 5, 10, 20, and 50 ouguiyas, with the half-ouguiya coin becoming obsolete due to low value.

• Updates to coins and banknotes occurred in 2003 and 2004, with coins minted in Slovakia.

• The ouguiya was a restricted currency, with controls on import and export, exchanged only through official banking channels.

3. New Mauritanian Ouguiya (2018–Present)

• In 2018, Mauritania introduced the new ouguiya, replacing the old ouguiya at a rate of 1 new ouguiya = 10 old ouguiyas.

• The new ouguiya retains the same name and ISO code (MRU).

• The Central Bank of Mauritania is responsible for issuing and managing the currency.

• Coins and banknotes are produced by Kremnica Mint (Slovakia) and a Canadian banknote printing company.

Currency Details

Designs and Symbols

• Coins and banknotes feature cultural and historical symbols of Mauritania, with Islamic and Arabic motifs.

• Modern banknotes include Arabic and Hindu-Arabic numerals, with advanced security features to prevent counterfeiting.

• Denominations are displayed prominently in Arabic script on the obverse side.

Economic and Historical Context

• The ouguiya was introduced in 1973 as a step toward national economic sovereignty, replacing the CFA franc.

• The currency has undergone updates to improve security and functionality, culminating in the 2018 introduction of the new ouguiya to simplify transactions by reducing zeros.

• The ouguiya is a restricted currency, with strict controls on import and export to prevent capital flight.

• The Central Bank of Mauritania manages monetary policy and currency stability.

Current Status

• The new ouguiya is the sole official currency in Mauritania.

• It is widely used in all commercial and financial transactions nationwide.

• The Central Bank continues to issue updated series of coins and banknotes with enhanced security features.

This report provides a comprehensive overview of Mauritania’s currency history, from the CFA franc to the old and new ouguiya, highlighting economic, political, and technical aspects.