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Usage of: West African CFA franc (XOF) Central African CFA franc (XAF) The CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries ...
Usage of: West African CFA franc Central African CFA franc The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF; abbreviation: F.CFA) is the currency used by eight independent states in West Africa which make up the West African Economic and Monetary Union: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.
On April 25, 2023, the ministerial meeting of the Economic and Monetary Community of Central Africa (Cemac) and France is held. In particular, the subject of the CFA franc was discussed. On the French side, the guarantee provided to the CFA franc, and the assurance of its convertibility, is perceived as a vector of economic stability for the ...
The West African Monetary Zone (WAMZ) has proposed to create a common currency for all West Africa states, the Eco. In May 2020, an agreement between the French government and 8 West African countries was reached, meaning to change the CFA franc to the Eco; though no plan had been established as of January 2021. [4]
Print/export Download as PDF ... the Central African CFA franc. ... became autonomous states with the dissolution of French Equatorial Africa in 1958, gaining full ...
Print/export Download as PDF ... Pages in category "Currencies of Africa" The following 109 pages are in this category, out of 109 total. ... Central African CFA ...
The CFA franc was pegged to the French franc, and now the euro, and its convertibility is guaranteed by the French Treasury. [53] [54] Despite sharing the same exchange rate, the CFA franc is actually two currencies, the Central African CFA franc and the West African CFA franc, which are run by their respective central banks in Central and West ...
Map of the CFA Franc Zone. Ivory Coast is in the CFA Franc Zone, a former French colonial monetary zone created in 1939, which now gathers 14 Sub-Saharan countries using the CFA Franc. [6] Following the Second World War, French authorities reformed the CFA and fixed its convertibility to the metropolitan Franc.