Mauritania's ouguiya, introduced in 1973 when the country broke from the West African CFA franc zone, was from the outset managed by a central bank with limited reserves and persistent inflationary pressure. By 1989 the 1000-ouguiya denomination was the highest in circulation, a position it had held through a decade of drought, debt restructuring, and a difficult post-independence economy heavily dependent on iron ore exports from Zouerate.
Giesecke & Devrient had handled Mauritanian note production from early in the series. The P#7A watermark security was modest for the denomination — a vulnerability that would eventually necessitate the redesigned issues of the 1990s.
Mauritania's ouguiya, introduced in 1973 when the country broke from the West African CFA franc zone, was from the outset managed by a central bank with limited reserves and persistent inflationary pressure. By 1989 the 1000-ouguiya denomination was the highest in circulation, a position it had held through a decade of drought, debt restructuring, and a difficult post-independence economy heavily dependent on iron ore exports from Zouerate.
Giesecke & Devrient had handled Mauritanian note production from early in the series. The P#7A watermark security was modest for the denomination — a vulnerability that would eventually necessitate the redesigned issues of the 1990s.