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200 Ouguiya

Issuer Banque Centrale de Mauritanie
Year 1974-2002
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In circulation to 1 January 2019
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Reverse lettering BANQUE CENTRALE DE MAURITANIE LES AUTEURS OU COMPLICES DE FALSIFICATION OU DE CONTREFAÇON DE BILLETS DE BANQUE SERONT PUNIS CONFORMEMENT AUX LOIS ET ACTES EN VIGUEUR 200 DEUX CENTS OUGUIYA
(Translation: Central Bank of Mauritania, Authors or accomplices of falsification or counterfeit banknotes will be punished in accordance with the laws and acts in force, Two Hundred Ouguiya)
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Protection description Old bearded man
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Mauritania introduced its own currency in 1973, breaking from the West African CFA franc zone barely a decade after independence — a move that left the new Ouguiya with almost no international reserve backing and made early issues like this one functionally tied to a fragile, import-dependent economy. The 200 Ouguiya was the highest denomination at launch, a telling sign of how constrained the monetary system was at the time.

Giesecke & Devrient's Leipzig facility handled the contract throughout the note's long run. The watermark remains the only significant security feature — modest even by 1970s standards.