# Creation of the CFA Franc (26 December 1945)

URL: https://allhistories.com/mauritania/timeline/1945-creation-of-the-cfa-franc
Location: Paris and French West Africa
Themes: main-event

The CFA franc was created on 26 December 1945, together with the CFP franc, after the French franc was weakened by the war and devalued under the Bretton Woods Agreement. From 1945 to 1958 the letters stood for Colonies françaises d'Afrique, and later for Communauté française d'Afrique. From 26 December 1945 to 16 October 1948 one CFA franc equalled 1.70 French francs. The 70-centime premium spared the colonies the December 1945 devaluation. After a revaluation in October 1948 the rate became 2 French francs until the end of 1959, and in 1960 it was fixed at 0.02 new francs. The currency originated in the former colonies of West and Central Africa, among them French West Africa to which Mauritania belonged. The page lists the zone's countries only as they stand today and does not state when Mauritania used or left the currency, so that point is left for the following era and should be checked against a source. At this point in the timeline (1945), René Babin (31 Jul 1945 – 30 Apr 1946) held the post of Acting Lieutenant Governor in the French colony and territory of Mauritania; Pierre Charles Cournarie (13 Jul 1943 – 2 Apr 1946) was Governor-General of French West Africa at Dakar, over the federation to which Mauritania belonged.

## Why it matters
It tied the money of French West Africa, to which Mauritania belonged, to the French franc from the end of the war.

Ruler at the Time: [René Babin](https://allhistories.com/mauritania/rulers/rene-babin-1945)

## Sources
- [Wikipedia — CFA franc](https://en.wikipedia.org/wiki/CFA_franc)
- [Wikipedia — French West Africa](https://en.wikipedia.org/wiki/French_West_Africa)