Currency Rates for Mauritanian Ouguiya
Bank Exchange Rates for Mauritania - MRO - Mauritanian Ouguiya- UM. The foreign exchange rates for Mauritania also known as the ISO code MRO or the Mauritanian Ouguiya currency and as a symbol UM.
Send Money Transfer to Mauritania. Banknotes are available in denominations of 100, 200, 500, 1000, 2000 and 5000 Ouguiya. Frequently used coins, are available in denominations of 5, 10, 20, 50 ouguiya, whilst 1 khoums (⅕ Ouguiya) and 1 ouguiya are not used frequently.
Mauritanian Ouguiya is the Mauritania currency which is used alongside Malagasy Ariary. Mauritanian Ouguiya consists of 5 khoums which represents a fifth in Arabic and its symbol is UM. Mauritania was using CFA Franc before they introduced Mauritanian Ouguiya in 1973.
It was 1973 that coins were introduced in denominations of 1, 5, 10 and 20 as there before CFA Franc had no division to the Mauritanian Ouguiya's level. Mauritania Ouguiya coins were minted at Kremnica Mint in Slovakia. In 2003 and 2004, more Mauritanian Ouguiya coins were introduced. There was a change on the coinage in 2009 whereby 1 Mauritanian Ouguiya had a plated composition. In 2010, Mauritanian Ouguiya bi-metallic coins were issued in denominations of 20 and 50 respectively.
Mauritanian Ouguiya bank notes were also introduced by the Central Bank of Mauritania in 1973. They were issued out in denominations starting with 100, 200 and 1000. A series of same format of bank notes were issued in 1974 and 1979 respectively, but a 500 note was also introduced in 1979. In the year 2004, a new look of bank notes were printed by a German company known as Giesecke & Devrient which is based in Munich. The Mauritanian Ouguiya bank notes printed had a new look on the face and back as the new design compressed the original size of the bank notes.
Currently, there are no restrictions on Mauritanian Ouguiya as recorded in filed reports of International Monetary Fund and World Bank. Mauritanian Ouguiya's exchange rate is market determined. All official transactions are based on the average market rate of the day. Traveller's cheques and foreign currencies are normally sold by the Central Bank of Mauritania with the exception of travel and other purposes under consideration. A percentage of 1.75 is charged as commission by the Central Bank of Mauritania when selling and buying of the traveller's cheques and foreign currencies.
Malagasy Ariary is the other currency which is used alongside Mauritanian Ouguiya and what makes both currencies unique is that their division units are not powered by ten.
GBP to MRO
The ouguiya is one of two currencies which are not based on a decimal system, the other being the Malagasy ariary. One ouguiya is made up of 5 khoums. Ba.nk Exchange Rates for Mauritania. The foreign exchange rates for Mauritanian Ouguiya also known as the ISO code MRO. Send money transfer online with us with the cheapest options