Officials of the West African Economic and Monetary Union say the introduction of the new European currency won't lead to any devaluation of the French-backed West African currency, the CFA.

The governor of the Union's Central Bank told reporters that despite what he called pessimism in some quarters, West African countries would be able to weather the storm of the Euro's introduction.

He said one Euro would equal almost six hundred and fifty six CFA.

The exchange rate was worked out by multiplying by ten the French franc's official conversion rate against the Euro.