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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.
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 ...
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]
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
West African CFA franc: Central Bank of West African States: 1 EUR = CFA 655.957 Burkina Faso Guinea-Bissau Ivory Coast Mali Niger Senegal Togo Cameroon: Central African CFA franc: Bank of Central African States: 1 EUR= CFA 655.957 Central African Republic Chad Equatorial Guinea Gabon Republic of the Congo Algeria: Algerian dinar: Bank of Algeria
French Equatorial African franc – French Equatorial Africa; French Guianan franc – French Guiana; French Polynesian franc – French Polynesia; French West African franc – French West Africa; Geneva franc – Geneva; Guadeloupe franc – Guadeloupe; Guinean franc – Guinea (replaced in 1971, re-established in 1985) Katangese franc ...
The eco is the name for the proposed common currency of the Economic Community of West African States (ECOWAS). Plans originally called for the West African Monetary Zone (WAMZ) states to introduce the currency first, which would eventually be merged with the Euro-pegged CFA franc which is used by the French-speaking West African region within the West African Economic and Monetary Union (UEMOA).
West African Economic and Monetary Union: Currency: West African CFA franc XOF Reserves: 9 820 million USD [1] Preceded by: Banque de l'Afrique Occidentale (1901-1955) Institut d'Émission de l'Afrique Occidentale Française et du Togo (1955-1959) Website: www.bceao.int