By Tansa Musa
Cameroon's finance minister and Central Africa's top central banker both said on Monday there would be no devaluation of the CFA franc currency used by 14 states in Africa, denying market rumours. The CFA franc is currently tied to the euro at a fixed exchange rate of one euro to 655.957 CFA francs, with the peg guaranteed by the French treasury. It was last devalued in 1994 -- at that time versus the French franc -- to allow the heavily indebted countries to export more. "As I am talking to you now, I, as minister of finance, I don't know where this rumour started. I only learnt about it on the Internet," Essimi Menye told reporters in the Cameroonian capital Yaounde.