Bank Of Central African States
Definition of 'Bank Of Central African States'
The central bank serving the Economic and Monetary Community of Central Africa (CEMAC). CEMAC consists of six countries,
BEAC's responsibilities as a central bank include overseeing the monetary system and issuing currency. BEAC's official currency is the Central African CFA franc, which had an exchange rate that was formerly fixed to the French franc but is now fixed to the euro.
Investopedia explains 'Bank Of Central African States'
Established in 1972, the bank's official name is Banque des Etats de l'Afrique Centrale (BEAC). In late 2010, Lucas Abaga Nchama of