GNF - Guinea Franc

AAA

DEFINITION of 'GNF - Guinea Franc'

The currency abbreviation for the Guinea franc, the national currency of Guinea. The GNF is actually the second franc for the country; the first was issued in 1959 and replaced the previously used CFA franc. That franc was replaced by the Guinean syli, which was used in the country from 1971–1985. The second Guinean franc replaced the syli in 1985.

INVESTOPEDIA EXPLAINS 'GNF - Guinea Franc'

Fourteen West African countries still use the CFA franc; together they make up the African Financial Community. Twelve of the 14 are former French colonies. The Republic of Guinea was formerly known as French Guinea; today it is often referred to as Guinea-Conakry (the name of the capital city) to distinguish it from its neighboring country Guinea-Bissau.

RELATED TERMS
  1. Bank Of Central African States

    The central bank serving the Economic and Monetary Community ...
  2. Currency

    A generally accepted form of money, including coins and paper ...
  3. Hard Currency

    A currency, usually from a highly industrialized country, that ...
  4. Money

    An officially-issued legal tender generally consisting of currency ...
  5. Forex - FX

    The market in which currencies are traded. The forex market is ...
  6. WM/Reuters Benchmark Rates

    Spot and forward foreign exchange rates that are used as standard ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Options & Futures

    A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.
  2. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  3. Forex Education

    Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.
  4. Bonds & Fixed Income

    6 Factors That Influence Exchange Rates

    Find out how a currency's relative value reflects a country's economic health and impacts your investment returns.
  5. Personal Finance

    What Are Central Banks?

    They print money, they control inflation, and much, much more. All you need to know about central banks is here.
  6. Investing

    The Best Way To Approach The Currency Hedge

    Currency is going to continue to be an important factor in investment choices, particularly as the dollar strengthens.
  7. Economics

    Does A Junk Rating Reflect Russia's Fundamentals?

    Moody’s, like other credit rating agencies, has downgraded Russia’s sovereign debt rating to non-investment grade, but does this reflect Russia's economy?
  8. Investing

    Hedged ETFs That Help You Cushion Currency Impact

    If you’re an investor holding non-U.S. assets, the returns on your investments will be affected when you translate your investment from its local currency
  9. Investing

    How To Take Advantage Of A Stronger U.S. Dollar?

    If you are invested in the market, you will feel the effects of a stronger dollar, especially if overseas interests are part of your diversified portfolio
  10. Economics

    Canadian Dollar Continues To Drop, But Why?

    The Canadian dollar-US dollar exchange rate is positively related to oil prices partly due to crude oil's big share of Canada's total FX currency earnings.

You May Also Like

Hot Definitions
  1. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  2. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  3. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  4. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  5. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  6. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
Trading Center