Mauritanian Ouguiyas (MRU)

The Mauritanian Ouguiya (MRU) is the official currency of Mauritania, a country in West Africa.

The Ouguiya was introduced in 1973, replacing the CFA Franc at a rate of 1 Ouguiya = 5 CFA Francs.

The Central Bank of Mauritania (Banque Centrale de Mauritanie) is responsible for issuing and managing the Mauritanian Ouguiya.

Unique Subdivision

The Mauritanian Ouguiya is unique among world currencies because it is subdivided into 5 smaller units called khoums, instead of the more common decimal system of 100 smaller units.

This makes the Mauritanian Ouguiya a non-decimal currency.

Denominations

Coins are issued in denominations of 1, 5, 10, 20, and 50 Ouguiya.

Banknotes are available in denominations of 50, 100, 200, 500, 1,000, and 5,000 Ouguiya.

Economy

Mauritania’s economy is heavily reliant on its natural resources, particularly iron ore, gold, and copper.

The country also has a significant fishing industry, as well as growing sectors in agriculture and livestock.

However, Mauritania faces several economic challenges, including vulnerability to commodity price fluctuations, limited infrastructure, and a high poverty rate.

The government has been working to diversify the economy, invest in infrastructure, and implement reforms aimed at promoting growth and reducing poverty.

However, progress has been slow, and the country remains dependent on its natural resources.

Exchange Rate and Inflation

The Mauritanian Ouguiya has experienced fluctuations in its exchange rate and bouts of inflation in the past.

The Central Bank of Mauritania’s monetary policy aims to maintain price stability and manage inflation to support economic growth.

The exchange rate of the Ouguiya against major currencies like the US Dollar and the Euro can fluctuate due to changes in global economic conditions and local factors.

Summary

In summary, the Mauritanian Ouguiya is the official currency of Mauritania, and its management falls under the responsibility of the Central Bank of Mauritania.

The currency is unique due to its non-decimal subdivision into khoums, and it is issued in various coin and banknote denominations.

Mauritania’s economy is heavily reliant on natural resources, and the country faces several economic challenges.

The Central Bank of Mauritania’s monetary policy focuses on maintaining price stability and managing inflation to support economic growth.

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