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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.
Senegal Togo ; CEMAC Cameroon Central African Republic Chad Equatorial Guinea Gabon Republic of Congo Fiji Libya Eswatini Lesotho Namibia Bhutan Nepal Samoa ; Stabilized arrangement (24) Guyana Cambodia Iran Maldives Lebanon
The hypothetical currency is sometimes referred to as the afro or afriq. [2] In April 2021, Wamkele Mene, Secretary General of the AfCFTA said: "I don't know how long it will take for Africa to have a common currency. It may not happen in our lifetime, but we have got to start somewhere to address the multiplicity of currencies as a constraint ...
Senegal will seek to implement a reform of the West Africa region's CFA franc currency at a regional level first and if that fails, will consider creating a national currency, opposition leader ...
A Senegalese opposition coalition backed by popular firebrand Ousmane Sonko launched its presidential campaign platform on Saturday with promises to create a new national currency and renegotiate ...
Senegal's newly elected President Bassirou Diomaye Faye on Wednesday said his government would conduct an audit of the West African nation's oil, gas and mining sectors. The announcement followed ...
The currency was pegged to the French franc (F) at F.CFA 1 = 2 French francs from 1948, becoming F.CFA 1 = NF 0.02 after introduction of the new franc at 1 new franc = 100 old francs. In 1994 the currency was devalued by half to F.CFA 1 = F 0.01.
The economy of Senegal is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from fish, phosphates ...