The Central African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XAF) is the currency of six independent states spanning 740,000,000 acres (3,000,000 km) in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale...
more
The Central African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XAF) is the currency of six independent states spanning 740,000,000 acres (3,000,000 km) in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale, "Bank of the Central African States"), located in Yaounde, Cameroon, for the members of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, "Economic and Monetary Community of Central Africa"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
In several west African states, the West African CFA franc, which is of equal value to the Central African CFA franc, is in circulation.
The CFA franc was introduced to the French colonies in Equatorial Africa in 1945, replacing the...
less
