with a common currency. It is to be distinguished from a mere
(e.g. the
in the 1800s), which does not involve a single market. This is the fifth stage of
. EMU is established through a currency-related
| Currency |
Union |
Users |
Est. |
Central African CFA francThe Central African CFA franc is the currency of six independent states spanning in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. CFA stands for Coopération financière en Afrique centrale...
|
Economic and Monetary Community of Central Africa |
Cameroon
Central African Republic
Chad
Republic of the Congo
Equatorial Guinea
Gabon |
1945 |
| West African CFA franc The West African CFA franc is the currency of eight independent states spanning over in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acroynym CFA stands for Communauté financière d'Afrique...
|
West African Economic and Monetary Union |
Benin
Burkina Faso
Côte d'Ivoire
Guinea-Bissau
Mali
Niger
Senegal
Togo |
1945 |
| CFP franc The CFP franc is the currency used in the French overseas possessions of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique...
|
Issued by Overseas Issuing Institute (FranceFrance , officially the French Republic , is a country located in Western Europe, with several overseas islands and territories located on other continents. Metropolitan France extends from the Mediterranean Sea to the English Channel and the North Sea, and from the Rhine to the Atlantic Ocean...
) |
French Polynesia
New Caledonia
Wallis and Futuna |
1945 |
East Caribbean dollarThe East Caribbean dollar is the currency of eight of the nine members of the Organisation of Eastern Caribbean States. It has existed since 1965, being the successor to the British West Indies dollar, and is normally abbreviated with the dollar sign $ or, alternatively, EC$ to distinguish it from...
|
Eastern Caribbean Currency Union The Eastern Caribbean Currency Union is a development of the Organization of Eastern Caribbean States, this organization is composed of Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines. It is under the supervision of the Eastern Caribbean...
of the OECSThe Organisation of Eastern Caribbean States , created in 1981, is an inter-governmental organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance between countries and dependencies in the Eastern Caribbean...
|
Anguilla
Antigua and Barbuda
Dominica
Grenada
Montserrat
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines |
1965 |
EuroThe euro is the official currency of 16 of the 27 Member States of the European Union . The states, known collectively as the Eurozone, are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain...
|
EurozoneThe eurozone is an economic and monetary union of 16 European Union member states which have adopted the euro currency as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal,...
of the European UnionThe European Union is an economic and political union of 27 Member States, located primarily in Europe. Committed to regional integration, the EU was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community...
|
Austria
Belgium
Cyprus
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain |
1999/2002 |
Australian dollarThe Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
|
|
Australia
Australia Ashmore and Cartier IslandsThe Territory of Ashmore and Cartier Islands are two groups of small low-lying uninhabited tropical islands in the Indian Ocean situated on the edge of the continental shelf north-west of Australia and south of the Indonesian island of Roti at .-Geography:...
Australia Australian Antarctic TerritoryThe Australian Antarctic Territory is the part of Antarctica claimed by Australia and is the largest territory of Antarctica claimed by any nation. It consists of all the islands and territory south of 60° S and between 45° E and 160° E, except for Adélie Land , which divides the territory into...
Christmas Island
Cocos (Keeling) Islands
Australia Coral Sea Islands
Australia Heard Island and McDonald IslandsHeard Island and McDonald Islands are a volcanic group of barren Antarctic islands , about two-thirds of the way from Madagascar to Antarctica, approximately 4099 km southwest of Perth, 3845 km southwest of Cape Leeuwin, 4200 km southeast of South Africa, 3830 km southeast of Madagascar, 1630...
Norfolk Island |
1966 |
New Zealand dollarThe New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents....
|
|
New Zealand
Cook Islands (New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud...
)
Niue (New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud...
)
Pitcairn Islands (UK)
New Zealand Ross DependencyThe Ross Dependency comprises an area of Antarctica claimed by New Zealand. It is defined by a sector originating at the South Pole, passing along longitudes 160° east to 150° west, and terminating at latitude 60° south. It is nearly identical in size to Sweden and constitutes the bulk of the...
(New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud...
)
New Zealand TokelauTokelau is a territory of New Zealand that consists of three tropical coral atolls in the South Pacific Ocean. The United Nations General Assembly designated Tokelau a Non-Self-Governing Territory. Until 1976 the official name was Tokelau Islands...
(New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud...
) |
1967 |
South African randThe rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"...
|
Multilateral Monetary Area The Common Monetary Area links South Africa, Lesotho and Swaziland into a monetary union. It is allied to the Southern African Customs Union . Namibia automatically became a member upon independence, but withdrew with the introduction of the Namibian dollar in 1993...
|
South Africa
Swaziland
Lesotho
Namibia |
1974 |
| United States dollar The United States dollar is the unit of currency of the United States. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents .The U.S...
|
|
Puerto Rico
Northern Mariana Islands
U.S. Virgin Islands
American Samoa
Guam
United States of America
United States Minor Outlying Islands |
| Community |
Currency |
Region |
Target date |
Notes |
East African CommunityThe East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. While generally, the member nations are largely in favor of the East African Federation, informal polls indicate that most Tanzanians have an...
|
East African shilling The shilling was the currency issued for use in British controlled areas in East Africa from 1921 until 1969.. It was produced by the East African Currency Board...
|
Africa |
2010 |
To be used by the future East African Federation East African Federation is the name of the proposed development of the East African Community. The development would federalize the five member states into a single state ....
|
Gulf Cooperation CouncilThe Cooperation Council for the Arab States of the Gulf , also known as the Gulf Cooperation Council is a trade bloc involving the six Arab states of the Persian Gulf with many economic and social objectives.-Members: -History:Created on May 25, 1981, the ...
|
Khaleeji -The concept:The Khaleeji is a proposed common currency of the member states of the GCC or Cooperation Council for the Arab States of the Gulf, except for Oman, and the U.A.E. The term 'Khaleeji' is Arabic for "of the Gulf", and is traditionally associated with the Arab states of the Persian...
|
Middle East |
2013 |
Possibly gold backed, but postponed due to the financial crisis. |
| Caribbean Single Market and Economy (as part of the CARICOM) |
|
Latin America
/Caribbean |
2015 |
|
Southern African Development CommunityThe Southern African Development Community is an inter-governmental organization headquartered in Gaborone, Botswana. Its goal is to further socio-economic cooperation and integration as well as political and security cooperation among 15 southern African states...
/Southern African Customs UnionThe Southern African Customs Union is a customs union among five countries of Southern Africa.-History:SACU is the oldest customs union in the world. It was established in 1910 as a Customs Union Agreement between the then Union of South Africa and the High Commission Territories of Bechuanaland,...
|
South African RandThe rand is the currency of South Africa. It takes its name from the Witwatersrand , the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. The rand has the symbol "R" and is subdivided into 100 cents, symbol "c"...
(interim proposal) |
Africa |
2016 |
|
| South Asian Association for Regional Cooperation The South Asian Association for Regional Cooperation is an economic and political organization of eight countries in Southern Asia. In terms of population, its sphere of influence is the largest of any regional organization: almost 1.5 billion people, the combined population of its member states...
|
|
Asia |
2016 |
|
| Union of South American Nations |
Latino |
Latin America
/Caribbean |
2019 |
|
| West African Monetary Zone |
Eco The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of ECOWAS. Originally the introduction of the currency was planned for December 1, 2009, however this date was revised to 1 January 2015.- See also :* West African Economic...
|
Africa |
2020 |
Inside Economic Community of West African StatesThe Economic Community of West African States is a regional group of fifteen West African countries, founded on May 28, 1975 with the signing of the Treaty of Lagos. Its mission is to promote economic integration...
, planned to eventually merge with West African francThe West African CFA franc is the currency of eight independent states spanning over in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acroynym CFA stands for Communauté financière d'Afrique...
|
Common Market for Eastern and Southern AfricaThe Common Market for Eastern and Southern Africa, is a preferential trading area with nineteen member states stretching from Libya to Zimbabwe. COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981...
|
|
Africa |
2025. |
|
African Economic CommunityThe African Economic Community is an organization of African Union states establishing grounds for mutual economic development among the majority of African states...
|
|
Africa |
2028 |
|
| NAFTA |
Amero |
North America |
? |
Not currently on agenda, see North American currency union |
Pacific Islands ForumThe Pacific Islands Forum is an inter-governmental organization which aims to enhance cooperation between the independent countries of the Pacific Ocean and represent their interests. It was founded in 1971 as the South Pacific Forum...
|
Australian dollarThe Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...
(one proposal) |
Pacific |
? |
|
African UnionThe African Union is an intergovernmental organization consisting of 52 African states. Established on July 9 2002, the AU was formed as a successor to the Organization of African Unity...
|
Unknown |
Africa |
2028 |
See African Monetary Union |