CFA franc

The CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ], Franc of the Financial Community of Africa, originally Franc of the French Colonies in Africa, or colloquially franc) is the name of two currencies, the West African CFA franc, used in eight West African countries, and the Central African CFA franc, used in six Central African countries.[1] Although separate, the two CFA franc currencies have always been at parity and are effectively interchangeable. The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc.

Usage of:
  West African CFA franc (XOF)
  Central African CFA franc (XAF)

On 29 June 2019 the leaders of the Economic Community of West African States (ECOWAS) formally adopted the name of "Eco" for their project of the single currency.[2] The West African regional bloc have adopted a road map to launch the single currency in 2027.[3]

Both CFA francs have a fixed exchange rate to the euro: 100 CFA francs = 1 former French franc = 0.152449 euro; or 1 € = 6.55957 FRF = 655.957 CFA francs exactly.


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