Currency fluctuations

The currency of the Comoros is the Comoros franc, divided into 100 centimes.

Along with other countries of the franc zone, the Comoros was affected by the devaluation of the French currency in January 1994. The Comoros government, however, insisted that the devaluation of its franc should be only 33% and not 50% as elsewhere. It was subsequently allowed a lesser devaluation because of its remoteness. The exchange rate became FF1=CF75, with both inflation and the price of imports rising.

The government made a commitment to the IMF (International Monetary Fund) in 1994 to attempt economic growth of 0.7% while maintaining the current account deficit at not more than 20% and inflation at 15%.