Equatorial Guinea - 500 Francs - P-506f - 2002 dated Foreign Paper Money

500 Francs, P-506f. (Central Africa). The ekwele or ekuele was the currency of Equatorial Guinea between 1975 and 1985. Although nominally divided into 100 céntimos, no subdivisions were issued. The name ekuele (plural the same) was used until 1979, whilst ekwele (plural bipkwele) was used after. The renaming of the currency to "ekwele" from "peseta" was motivated largely by a sweeping Africanization program meant to rid the country of its colonial past by removing Spanish names and references from the public domain; the ekpele was a pre-colonial iron currency used by the Fang and Beti people.

The ekuele replaced the peseta guineana at par, whilst the ekwele was replaced by the Central African CFA franc (written franco on Equatorial Guinean coins and banknotes) at a rate of 1 Franco = 4 bipkwele.