The CFA franc is a currency used by 14 countries in Africa (mostly former French colonies). The CFA franc was pegged to the French franc (the currency that France used before the Euro) from the 1940's onwards. On 12 th January 1994, the CFA franc was devalued. The rate went from CFA Franc 1.00= French Franc 0.02 at the beginning of January 1994 to CFA Franc 1.00= French Franc 0.01, after the devaluation. One of the countries which uses the CFA franc is Senegal. Pick the choice below that most accurately reflected what happened immediately after the CFA franc was devalued. Senegal's exports became more competitive and so Senegal exported more goods to France. Senegal's inflation rate increased. Senegal's exports became less competitive and so Senegal exported fewer goods to France. Senegal's inflation rate increased. Senegal's exports became more competitive and so Senegal exported fewer goods to France. Senegal's inflation rate decreased. Senegal's exports became less competitive and so Senegal exported more goods to France. Senegal's inflation rate increased. Senegal's exports became less compeltitive and so Senegal exported fewer goods to France. Senegal's inflation rate decreased. I wonder if Oliver the Finance Pug has ever been to Senegal