INFORMATION ABOUT WEST AFRICAN CFA FRANC
We show the updated today’s value/price of West African CFA franc (XOF).You can get the exchange from West African CFA franc to another currency by introducing the value or amount of West African CFA franc (XOF) in the box and clicking the convert button. This way you can get the West African CFA franc’s price in relation to other currencies.
INTRODUCTION TO THE WEST AFRICAN CFA FRANC
The West African CFA franc was first introduced in 1945 in the French colonies of Africa replacing the French West Africa franc. After the independence of some colonies, the CFA franc ceased it use*. But at the present it is still the legal tender in Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo. It is used by approximately 106 million five hundred seventy thousand people. You can check the today value of the West African CFA franc and check its price.
*Among the country which stopped using the CFA franc there are: Mauritania (the country replaced the franc with the Uquiya) and Meli (the country replaced the franc with its own franc but then return to the CFA franc). The Portuguese colony Guinea Bissau adopted the CFA franc replacing the peso in 1994.
The Central Bank of West African States is an international public organization which groups 8 countries of West Africa (below mentioned) and it was founded in 1961. Among its functions there are: the issuance of the country (CFA franc) and the application of the common monetary policy. It is also responsible for setting interest rates, manage and control de reserves in charge, the banking and financial legislation of the state members.
Countries that use the currency: Benin, Burkina Faso, Ivory Coast, Guinea Bissau, Mali, Niger, Senegal, Togo.
Name: WEST AFRICAN CFA FRANC
Bills: 500, 1.000, 2.000, 5.000, 10.000 FCFA
Coins: cent = 1/100 of 1 FCFA. 1, 5, 10, 25, 50, 100, 200, 500 FCFA
Issuing Agent: Central Bank of West African States Web: http://www.bceao.int/