Niger is a member of the eight-country regional group, the Union Economique et Monétaire Ouest‑Africaine (UEMOA). The group’s currency system is managed by the Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO). The XOF currency is currently pegged to the euro at a rate of
XOF655.96 = EUR1 (effective 1 January 1999).
Niger is the second lowest issuer in the UEMOA region, with XOF80 trn (4% of total UEMOA issuance)
scheduled for 2013. All securities issued or due to be issued in 2013 are 91- and 182-day T-bills.
Across UEMOA, T-bills are issued with following tenors through the BCEAO: 28-, 91-, 182-, 364- and
• Bonds are issued with 3 yrs and above tenor (mainly 5- and 7-yrs). Bonds are issued either on the regional
stock exchange, the BRVM, or on the money market, via the BCEAO.