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Exchange rates for the Deutsche Mark in Guinea * / DEM 1 = GNF ... (selling) / up to 1998

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. Yearly average
  4. DEM Deutsche Mark (historical)
  5. GNF Guinean franc (Guinea)
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.A.GNF.DEM.CA.AB.A04
Unit GNF
Dimension one
Timespan from 1986 to 1998
Last update 20.09.2023 12:48:43 PM
   
General * Denoted as the rate in the "second market" until 29 May 1986. A currency conversion took place with effect from 6 January 1986. The former currency, the syli (GNS) was replaced by the Guinean franc (GNF) at the rate of 1:1. At the same time, the exchange rates were adjusted sharply. With effect from 30 May 1986, the multiple exchange rate system introduced on 7 October 1985 was abolished and a new unified official rate was introduced, based on the previous rate in the "second market". Exchange rate application until 29 May 1986: Official exchange rate: for transactions of the public sector and mining companies. Rate in the "second market": for all other foreign exchange transactions. Listed against the euro as of January 1999, see BBEX3:A:GNF:EUR:CA:AB:A04.
Methodology Calculated on the basis of month-end rates.
Source Banque Centrale de la République de Guinée, Conakry.
   
Comment on 1986 Average from May to December 1986. Average from January to May (exchange rate as of 29 May) 1986: Official exchange rate: DEM 1 = GNF 132.1546. Rate in the "second market": DEM 1 = GNF 154.9466. With the currency changeover of 6 January 1986, exchange rates were adjusted sharply. The most recent exchange rates before and after the change which were known to us were: Official exchange rate: end-December 1985: DEM 1 = GNS 8.759 (buying/selling) 6 January 1986: DEM 1 = GNF 121.120 (buying) Calculated devaluation: 92.8%. Rate in the "second market": end-December 1985: DEM 1 = GNS 109.2366 (buying) 6 January 1986: DEM 1 = GNF 137.272 (buying) Calculated devaluation: 20.4%.
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