CFA Franc BCEAO Wiki
The CFA Franc BCEAO is the official currency of West Africa. Including its external territories: Togo, Niger, Senegal, Benin, Guinea-Bissau, Burkina Faso, Mali, Ivory Coast. The currency code for CFA Franc BCEAO is XOF and the currency symbol is CFA.
The CFA Franc BCEAO (sign: €CFA; code: XOF) is the currency of West Africa.
The CFA Franc BCEAO (XOF) is used as the official currency in Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo.
The capital of West Africa, Lomé, uses the CFA Franc BCEAO as its currency. Additionally, there are several other cities that use XOF either as their official currency or as an accepted form of payment Bamako, Bissau, Dakar, Lomé, Niamey, Ouagadougou, Porto-Novo, Yamoussoukro.
About the CFA Franc BCEAO
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, and a combined GDP of US$128.6 billion as of 2018.The initialism CFA stands for Communauté Financière Africaine ('African Financial Community'). 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. 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.
With currencyconverts.com, you can convert West African CFA Franc (CFA) to any other foreign currency. To convert a certain amount of CFA Franc BCEAO, use the currency converter. This page provides free online information about currency conversion or exchange rates for world fiat currencies. The exchange rate for West African CFA Franc is calculated from the mid-market real price and updates daily. Usually, people search for the XOF exchange rate before business travel to West Africa or during a trip to other countries, and want to check the rate of West African CFA Franc in local money. On this page, you can convert CFA Franc BCEAO to main foreign currencies, get fast access to the most commonly used amounts of XOF, or alternatively calculate any amount of CFA Franc BCEAO in other fiat money.