Effects of fluctuations in the exchange rates of the main intervention currencies on African Economies

Abstract

The movements in exchange rates which have taken place since the 1970s have caused considerable concern because of their possible impact on the African economies. This concern was justified by the fact that, in the matter of exchange rates, it is the action taken by the main industrial countries that has the strongest impact on the operation of the international monetary system as a whole. Not only are these countries at the very heart of the world's basic commercial transactions but also their currencies dominated the international financial markets and the movements of currencies.