The monetary unit of the Islamic Republic of Mauritania is the Mauritanian ouguiya. 1 Mauritanian Ouguiya is equal to 5 Khums. In monetary circulation there are coins in denominations of 20, 10, 5, 1 and 1/5 ouguiya (1 khums). The ouguiya was introduced into monetary circulation in 1973 instead of the CFA franc in the ratio of 1 ouguiya = 5 francs.