The Central Africa Economic and Monetary Community (CEMAC), also known as the Central African States, was formed in 1974. The first four members—Congo, Chad, Central African Republic, and Gabon—were part of the Equatorial African States. Cameroon joined the economic alliance. The five members brought about the Bank of Central African States (BEAC), the central bank of CEMAC. Equatorial Guinea joined CEMAC in 1985.
The CFA franc is the official currency of the Central African States. The CFA franc Central and the CFA franc West (the denomination of the West African States) are both backed by the French Treasury at a rate of 100 CFA francs to 1 French franc, or 665.957 CFA francs to 1 euro.
The six nations of the Central African States issued their own coins for special occasions. However, standard circulation coins are produced by the Paris Mint. The coins circulating in the Central African States come in the following denominations: 1 franc, 2 francs, 5 francs, 10 francs, 25 francs, 50 francs, 100 francs, and 500 francs.
