"XOF" redirects here. For a cryptographic term, see Extendable-output function.
West African CFA franc
franc CFA BCEAO(French)
Current coins of the West African CFA franc
ISO 4217
Code
XOF (numeric: 952)
Unit
Symbol
F.CFA
Nickname
céfa, franc
Denominations
Subunit
1⁄100
centime theoretical (unused)
Symbol
centime
c
Banknotes
500, 1,000, 2,000, 5,000, 10,000 francs
Coins
1, 5, 10, 25, 50, 100, 200, 250, 500 francs
Demographics
User(s)
Benin Burkina Faso Côte d'Ivoire Guinea-Bissau Mali Niger Senegal Togo
Issuance
Central bank
Central Bank of West African States
Website
www.bceao.int
Valuation
Pegged with
Euro (€) = F.CFA 655.957
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 (UEMOA; Union Économique et Monétaire Ouest Africaine): Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014,[1] and a combined GDP of US$128.6 billion as of 2018.[update][citation needed]
The initialism CFA stands for Communauté Financière Africaine ('African Financial Community').[2] The currency is issued by the Central Bank of West African States (BCEAO; Banque Centrale des États de l'Afrique de l'Ouest), located in Dakar, Senegal, for the members of the UEMOA. The franc is nominally subdivided into 100 centimes but no coins or banknotes denominated in centimes have ever been issued. The production of CFA franc notes has been carried out at Chamalières by the Bank of France since its creation in 1945.
The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both commonly referred to as the CFA franc.
In December 2019 it was announced that the West African CFA franc would be reformed, which will include renaming it the eco and reducing France's role in the currency.[3][4] The broader Economic Community of West African States (ECOWAS), of which the members of UEMOA are also members, plans to introduce its own common currency for its member states by 2027, for which the name eco has also been formally adopted.[5][6]
^Population Reference Bureau. "2014 World Population Data Sheet" (PDF).
^"Présentation" (in French). Central Bank of West African States. Archived from the original on 2013-10-05. Retrieved July 14, 2012. (in French)
^"West Africa renames CFA franc but keeps it pegged to euro". Reuters. 2019-12-21. Retrieved 2019-12-22.
^"West Africa's new currency, the Eco: Rebrand or fresh start?". Deutsche Welle. 2019-12-23. Retrieved 2020-02-20.
^"West Africa: ECOWAS Heads of State Name Single Currency ECO". AllAfrica.
^"West Africa regional bloc adopts new plans to launch ECO single currency in 2027". REUTERS.
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The franc was the currency of Togo. Between 1924 and 1956, coins specifically for use in Togo were issued. Since 1945, Togo uses the WestAfricanCFA franc...
dollar $ KYD Cent 100 Central African Republic Central AfricanCFAfranc Fr XAF Centime 100 Chad Central AfricanCFAfranc Fr XAF Centime 100 Chile Chilean...
coins from 1944. It was replaced by the CFAfranc in 1945. In 1944, aluminium-bronze 50 centimes and 1 franc coins were issued. These were the only coins...
and Egyptian pound are widely accepted. "African Studies Center| African Languages at Penn". Center for African Studies at University of Pennsylvania. Retrieved...
re-export trade, and export of uranium. The 50% devaluation of the WestAfricanCFAfranc in January 1994 boosted exports of livestock, cowpeas, onions, and...
the introduction in 1868 of the Spanish peseta, at par with the French franc, and at the rate of $1 = 20 reales = 5 pesetas = 22.5 g of fine silver....
re-export trade, and export of uranium. The 50% devaluation of the WestAfricanCFAfranc in January 1994 boosted exports of livestock, cowpeas, onions, and...
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Algeria Belgian franc – Belgium Burundian franc – Burundi Cambodian franc – Cambodia Central AfricanCFAfranc – Cameroon, Central African Republic, Chad...
Barcelona – Taula de canvi de Barcelona (1401–1714) British East Africa – East African Currency Board (1919–1966) Independent State of Croatia – Croatian...
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Global Information
Benin
Burkina Faso
Côte d'Ivoire
Guinea-Bissau
Mali
Niger
Senegal
Togo