In less than 2 months, the EUR went from 10,000 GNF to 12,500, a loss of 25%. Imports are foreign currency demands, and exports are foreign currency receipts, and when the demand is greater than the supply, the value of the GNF automatically depreciates.

The depreciation of the GNF, fundamentally, can be explained by the weakness of currencies compared to strong demand; a deficit too linked to poor governance and the absence of an adequate monetary policy of the BCRG to promote local production.
The BCRG has no control at all over the currency market, which is largely dominated by primary banks and the informal sector. This is why a trading room was created with the aim of mitigating the volatility of the GNF to have a more formal market.

Thus, remedying the volatility of the GNF amounts, among other things, to encouraging a supply of foreign currencies through a mechanism to force mining companies to repatriate their turnover to meet the letters of credit for fuel and short rice for domestic consumption, in order to there is a certain balance between supply and demand for currencies.