Free trade will effect the necessary demand for and supply of currencies within the region. The demand for Kinte cloth made in Ghana will create the demand for Cedes while Ghanaian demand for products from other African States will create demands for those currencies. The demand for other products will then lead to the trading of West African currencies. This trade will facilitate the easy transition from multiple currencies into one. The transition from multiple currencies into one can only occur if there is a strong commitment to fiscal discipline.
Countries have to control inflation, debt, and unemployment.
To place all countries on a comparable ground, the countries will have to maintain inflation rates within a certain range. The management of their inflation will help maintain interest rates within an acceptable range. The stability of interest rates is needed to maintain stable and comparable exchange rates. Exchange rates normally rise as interest rates increase relative to interest rates of other countries. This can be done by maintaining a freeze on borrowing or other methods of reduction in deficit spending.