CFA franc

Uncommon card · No. 115640

CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 227 million people (as of 2026) in fourteen African countries: West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries, with ISO currency code XOF; Central African CFA franc (where "CFA" stands for Coopération Financière en Afrique centrale, i.e. "Financial Cooperation in Central Africa" in English), used in six Central African countries, with ISO currency code XAF. Although the two currencies are commonly called CFA franc and (currently) have the same value, they are not interchangeable. It is therefore not a common monetary zone but two juxtaposed zones. Both CFA francs have a fixed exchange rate (peg) to the euro guaranteed by France: €1 = F.CFA 655.957 exactly. To ensure this convertibility guarantee, member countries were required to deposit half of their foreign exchange reserves with the French...

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