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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.
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).
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
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 ...
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 ...
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 ...
Key takeaways. Review your credit card fee policies before traveling outside the U.S. to avoid surprise costs. If needed, apply for a credit card without travel-related surcharges and fees.
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.