Mali is a member of the West African Monetary Union since the colonial period in the history of the country. It used the CFA franc as a legal tender. In 1962 Mali introduced it's own currency unit - the franc of Mali, equal to CFA franc. In 1969 it was withdrawn from circulation and the CFA franc, which is divided into 100 centimes, became the currency unit of Mali again. Please, see the page devoted to West Africa for current notes.