Search results
Results From The WOW.Com Content Network
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]
Building at 29, rue du Colisée in Paris, head office of BCEAO from the early 1960s to relocation to Dakar in 1978. In 1955, the French government transferred the note-issuance privilege for its West African colonies, hitherto held by the Banque de l'Afrique Occidentale, to a newly created entity based in Paris, [3] the Institut d'Émission de l'Afrique Occidentale Française et du Togo.
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 ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
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