Central Bank of West African States (Guinea Bissau) / Banque Centrale des Etats de l'Afrique de l'Ouest

The BCEAO has the exclusive right to issue currency throughout the member States of the West African Monetary Union. It issues banknotes and coins that are legal tender and redeemable throughout the member States of the Union.
The creation, issuance and cancellation of banknotes and coins are decided by the Council of Ministers. Despite the development of non-cash means of payment, use of banknotes and coins continues to hold a relatively important place in the transactions of economic operators in the Union. The single currency promotes crossborder movements of banknotes between the States. The Central Bank also conducts ongoing research on printing processes relating to currency authentication, with a view to enhancing the security of the banknotes it issues.