CFA Franc

The CFA franc (in French: franc CFA, or colloquially franc) is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc. Although theoretically separate, the two CFA franc currencies are effectively interchangeable.

Both CFA Francs currently have a fixed exchange rate to the euro: 100 CFA francs = 1 former French (nouveau) franc = 0.152449 euro; or 1 euro = 655.957 CFA francs.

Although Central African CFA francs and West African CFA francs have always been at parity and have therefore always had the same monetary value against other currencies, they are in principle separate currencies. They could theoretically have different values from any moment if one of the two CFA monetary authorities, or France, decided it. Therefore West African CFA coins and banknotes are theoretically not accepted in countries using Central African CFA francs, and vice versa. However, in practice, the permanent parity of the two CFA franc currencies is widely assumed.

CFA Francs are used in fourteen countries: twelve formerly French-ruled African countries, as well as in Guinea-Bissau (a former Portuguese colony) and in Equatorial Guinea (a former Spanish colony). The ISO currency codes are XAF for the Central African CFA franc and XOF for the West African CFA franc.

Read more about CFA Franc:  Name, Institutions

Other articles related to "franc, cfa franc, francs, cfa":

Westphalian Frank
... alongside the Thaler, was equal to the French franc and was subdivided into 100 Centimen ... Currencies named franc or similar Circulating Burundian franc CFA franc Central African CFA franc West African CFA franc CFP franc New Caledonian franc ... Gallen Frank Saint Pierre and Miquelon franc Schaffhausen Frank Schwyz Frank Solothurn Frank Thurgau Frank Ticino franco Togolese franc Tunisian franc (فرنك) Unterwalden Frank Uri ...
Comorian Franc - History
... The French franc became the currency of Comoros after the islands became a French protectorate in 1886 ... In 1891, Sultan Said Ali of Bambao, Ngazidja issued coins denominated in centimes and francs which circulated alongside French currency ... The Malagasy franc (French franc malgache) was equivalent to the French franc and French coins continued to circulate as Madagascar had no coins of its own until 1943 ...
CFA Franc - Institutions - Central African
... The Central Africa CFA franc (XAF) is known in French as the Franc CFA, where CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa") ... of the Congo Equatorial Guinea Gabon In 1975, Central African CFA banknotes were issued with an obverse unique to each participating country, and common reverse, in a fashion similar to euro coins ... Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA in 1984 ...
Luccan Franc - Coins
... In 1805, silver 1 and 5 franc coins were introduced, followed by copper 3 and 5 centesimi in 1806 ... Currencies named franc or similar Circulating Burundian franc CFA franc Central African CFA franc West African CFA franc CFP franc New Caledonian franc French Polynesian franc Comorian franc ... Gallen Frank Saint Pierre and Miquelon franc Schaffhausen Frank Schwyz Frank Solothurn Frank Thurgau Frank Ticino franco Togolese franc Tunisian franc (فرنك) Unterwalden Frank Uri Frank US occupation ...
Central Banks And Currencies Of Africa
... Members of both currency unions use the CFA Franc as their legal tender ... Ivory Coast Guinea-Bissau Mali Niger Senegal Togo West African CFA franc Central Bank of West African States Cameroon Central African Republic Chad Republic of the Congo Equatorial Guinea Gabon ...