The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states spanning over 1,350,000 square miles (3,500,000 km) in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acroynym CFA stands for Communauté financière d'Afrique ("Financial Community of Africa"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de...
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The West African CFA franc (French: franc CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states spanning over 1,350,000 square miles (3,500,000 km) in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acroynym CFA stands for Communauté financière d'Afrique ("Financial Community of Africa"). The currency is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, "Central Bank of the West African States"), located in Dakar, Senegal, for the members of the UEMOA (Union Économique et Monétaire Ouest Africaine, "West African Economic and Monetary Union"). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
In several central African states, the Central African CFA franc, which is of equal value to the West African CFA franc, is in circulation. They are both the CFA franc.
The CFA franc was introduced to the French colonies in west Africa in 1945,...
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