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  1. West African CFA franc - Wikipedia

    en.wikipedia.org › wiki › West_African_CFA_franc

    The West African CFA franc ( French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: 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 ...

    • Eco (Currency)

      The Eco is the proposed name for the common currency that...

    • History

      The CFA franc was introduced to the French colonies in West...

    • Controversy

      There has been some debate over whether the West African CFA...

  2. CFA franc - Wikipedia

    en.wikipedia.org › wiki › CFA_franc

    The West African CFA franc is expected to be renamed to the "Eco" in the near future. Institutions. 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.

  3. French West African franc - Wikipedia

    en.wikipedia.org › wiki › French_West_African_franc
    • Overview
    • Coins
    • Banknotes

    The franc was the currency of French West Africa. The French franc circulated, together with distinct banknotes from 1903 and coins from 1944. It was replaced by the CFA franc in 1945.

    In 1944, aluminium-bronze 50 centimes and 1 franc coins were issued. These were the only coins struck before the introduction of the CFA franc.

    The Banque de l'Afrique Occidentale began issuing notes in 1903. 100 franc notes were introduced that year, followed by 5 francs in 1904, 500 francs in 1912, 25 francs in 1917, 1000 francs in 1919 and 50 francs in 1920. 10 franc notes were introduced in 1943. In 1944, the government issued notes for 50 centimes, and 1 and 2 francs. The notes of the Banque de l'Afrique Occidentale continued to circulate after the introduction of the CFA franc.

  4. People also ask

    When was the CFA franc introduced in West Africa?

    What does the West African franc stand for?

    What are the 8 countries that use CFA franc?

    Where does the Central African franc come from?

  5. CFA franc - Simple English Wikipedia, the free encyclopedia

    simple.wikipedia.org › wiki › CFA_franc

    The West African CFA franc is the currency of eight countries in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Sénégal and Togo. CFA means Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière Africaine ("African Financial Community").

  6. West African CFA franc — Wikipedia Republished // WIKI 2

    wiki2.org › en › West_African_CFA_franc
    • History
    • Coins
    • Banknotes
    • Controversy
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    The CFA franc was in­tro­duced to the French colonies in West Africa in 1945, re­plac­ing the French West African franc. The West African colonies and ter­ri­to­ries using the CFA franc were Ivory Coast, Da­homey, French Sudan, Mau­ri­ta­nia, Niger, Sénégal, Togo and Upper Volta. The cur­rency con­tin­ued in use when these colonies gained their in­de­pen­dence, ex­cept in Mali (for­merly French Sudan), which re­placed at par the CFA franc with its own francin 1961. In 1973, Mau­ri­ta­nia re­placed the CFA franc with the ouguiya at a rate of 1 ouguiya = 5 francs. Mali read­opted the CFA franc in 1984, at a rate of 1 CFA franc = 2 Malian francs. The for­mer Por­tuguese colony of Guinea-Bis­sau adopted the CFA franc in 1997, re­plac­ing the Guinea-Bis­sau pesoat a rate of 1 CFA franc = 65 pesos. This cur­rency was also pegged to the French franc so that 1 FRF = 100 XOF. After the French franc was aban­doned due to the in­tro­duc­tion of the euro, the peg re­mained at the same ratio.[ci...

    For coins struck prior to the CFA franc, see French West African franc In 1948, alu­minium 1 and 2 franc coins were in­tro­duced. These were fol­lowed in 1956 by alu­minium-bronze 5, 10, and 25 francs. All car­ried the name "Afrique Oc­ci­den­tale Française". In 1957, 10 and 25 franc coins were is­sued with the name of "Togo" were minted for use in that coun­try, these were is­sued only for that year. From 1959, all coins have been is­sued by the BCEAO. From 1959 on­ward, the over­all size and com­po­si­tion of the coins changed lit­tle, how­ever "République français" and the styl­ized Mar­i­anne bust was dropped from all coins, re­placed with the title "Banque Cen­trale des États de l'Afrique de l'Ouest" with the de­sign on the 1, 5, 10, and 25 francs fea­tur­ing a gazelle's pro­file, car­ried over from colo­nial is­sues, and a tribal mask be­tween the de­nom­i­na­tion, which has be­come the em­blem of the West African mon­e­tary union. Nickel-Steel 100 franc coins were in­tro­duce...

    When the CFA franc was in­tro­duced, notes is­sued by the Banque Cen­trale des États de l'Afrique Oc­ci­den­tale in de­nom­i­na­tions of 5, 10, 25, 50, 100 and 1000 francs were in cir­cu­la­tion. 500-franc notes were added in 1946, fol­lowed by those of 5,000 francs in 1948. In 1955, the In­sti­tut d'Emis­sion de l'A.O.F. et du Togotook over the pro­duc­tion of paper money, is­su­ing notes for 50, 100, 500 and 1000 francs. In 1959, the BCEAOtook over the is­suance of paper money and rein­tro­duced a 5,000-franc note. With the ex­cep­tion of a few early is­sues, the notes of the BCEAO carry a let­ter to in­di­cate the coun­try of is­suance. The codes are as fol­lows: 1. A – Côte d’Ivoire 2. B – Benin 3. C – Burkina Faso 4. H – Niger 5. K – Senegal 6. M – Mali 7. S – Guinea-Bissau 8. T – Togo The coun­try codes are used to iden­tify and cat­e­gorise flow of cash be­tween the CFA franc coun­tries, as well as repa­tri­at­ing ban­knotes to their coun­try of origin. 50-franc notes were la...

    There has been some de­bate over whether the West African CFA franc serves as way for France to keep in­flu­ence in re­gion, often to the detri­ment to these nations.For ex­am­ple one of the "rules" of the cur­rency is that the cen­tral banks of all of the na­tions in­volved have to keep at least 50% of their for­eign as­sets in the French Trea­sury. Some see this as a way to keep the cur­rency sta­ble while other see it as lim­it­ing the eco­nomic in­de­pen­dence of the West African na­tions that are in­volved. Some stud­ies have shown that the CFA franc has re­duced in­tra-re­gional trade, made coun­tries de­pen­dent on ex­port­ing a lim­ited num­ber of goods, nar­rowed the in­dus­trial base, and made the economies of these na­tions very vul­ner­a­ble to ex­ter­nal shocks. Even though dur­ing the early 1950s to the mid 1980s, CFA coun­tries ex­pe­ri­enced higher real GDP growth and lower in­fla­tion rates than other non-CFA Sub-Sa­ha­ran coun­tries, the eco­nomic shocks of the 198...

    (in French) Union Economique et Monétaire Ouest Africaine (UEMOA)(Official Site of the West African Economic and Monetary Union)
  7. West African CFA franc - Wikipedia

    so.wikipedia.org › wiki › West_African_CFA_franc

    West African CFA franc. Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, franco CFA ama franco fudud, ISO 4217 code: XOF) Niger, Senegal iyo Togo. Siddeed waddan ayaa isugu jira dad isugu jira 105.7 milyan oo qof 2014, [1] iyo wax-soo-saarka guud ee US $ 78.4 bilyan (sida 2012). [2] Qaybta Casriga ah ee CFA waxay u taagan tahay ...

  8. Central African CFA franc - Wikipedia

    en.wikipedia.org › wiki › Central_African_CFA_franc
    • Overview
    • History
    • Criticism

    The Central African CFA franc is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. These six countries have a combined population of 55.2 million people, and a combined GDP of US$113.322 billion. CFA stands for Coopération financière en Afrique centrale. It is issued by the Bank of Central African States, located in Yaoundé, Cameroon, for the members of the Economic and Monetary...

    The CFA franc was introduced to the French colonies in Equatorial Africa in 1945, replacing the French Equatorial African franc. The Equatorial African colonies and territories using the CFA franc were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari. The currency remained in use when these colonies gained their independence. Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA franc in 1984, replacing the Equatorial Guinean ekwele at a rate of 1 franc = 4 bi

    According to the BBC, "critics, such as those leading the anti-CFA movement, say true economic development for the 14 African countries can only be achieved if they get rid of the currency. They argue that in exchange for the guarantees provided by the French treasury, African countries channel more money to France than they receive in aid. They also argue that they have no say in deciding key monetary policies agreed to by European countries, which are members of the Eurozone."

    • 500, 1000, 2000, 5000, 10,000 francs
    • FCFA
  9. Economic Community of West African States - Wikipedia

    en.wikipedia.org › wiki › Economic_Community_of_West

    The eventual goal is for the CFA franc and eco to merge, giving all of West and Central Africa a single, stable currency. The launch of the new currency is being developed by the West African Monetary Institute based in Accra, Ghana. Membership. Gambia (Founding Member) Ghana (Founding Member) Guinea (Founding Member)

  10. Central Bank of West African States - Wikipedia

    en.wikipedia.org › wiki › Central_Bank_of_West

    The Central Bank of West African States ( French: Banque Centrale des États de l'Afrique de l'Ouest, BCEAO) is a central bank serving the eight west African countries which share the common West African CFA franc currency and comprise the West African Economic and Monetary Union (UEMOA): Benin. Burkina Faso.

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