Which currency did Mauritania introduce in 1973 to replace the CFA franc?

Mauritania introduced the Mauritanian ouguiya in 1973 to replace the CFA franc.

The ouguiya became Mauritania’s national currency after the country withdrew from the West African Monetary Union and ended its use of the CFA franc. Its introduction marked an important step in Mauritania’s post-independence monetary policy.

The name ouguiya comes from the Hassaniya Arabic word uqiya, meaning “ounce.” Unlike many currencies that use a centesimal subdivision, the ouguiya was traditionally divided into five khoums. This unusual structure means that one khoums represents one-fifth of an ouguiya.

Mauritania redenominated the currency in 2018, removing one zero from prices and changing the designs of banknotes and coins. The currency retained the name ouguiya, while its ISO 4217 code changed from MRO to MRU. This redenomination can cause confusion when older financial references are compared with modern prices.