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Franc of the Financial Community of Africa
- The CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]), or Franc of the Financial Community of Africa (French: franc de la Communauté financière africaine; originally the Franc of the French Colonies in Africa, French: franc des Colonies françaises d'Afrique; colloquially franc; abbreviation: F.CFA), 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.
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There are two different currencies called the CFA franc: the West African CFA franc (ISO 4217 currency code XOF), and the Central Africa CFA franc (ISO 4217 currency code XAF). They are distinguished in French by the meaning of the abbreviation CFA.
Sep 20, 2022 · CFA stands for Communauté financière d'Afrique or African Financial Community. In 2019, the CFA Franc was officially renamed the "Eco." Key Takeaways. The CFA franc, backed by the...
Dec 7, 2019 · The CFA was later split into the Communauté Financière d’Afrique (“Financial Community of Africa”), which included the West African countries Benin, Burkina Faso, Côte d’Ivoire, Guinea ...
The CFA franc BCEAO is the currency of the West African Economic and Monetary Union UEMOA. It is issued by the West African Central Bank in Senegal. Here, the letters CFA stand for the French designation " C ommunauté F inancière d' A frique." All countries of the UEMOA are also equal members of the economic community ECOWAS.
The CFA franc is the common currency of the 14 African countries belonging to the Franc Zone. The states include : Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, which make up the West African Economic and Monetary Union (WAEMU), whose central bank is the BCEAO ;
The CFA franc, which stands for Communauté financière d’Afrique or African Financial Community, refers to a monetary system encompassing two distinct currencies: the Central African CFA franc (XAF) and the West African CFA franc (XOF).
The initialism CFA stands for Communauté Financière Africaine ('African Financial Community'). [2] . 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.
