West African CFA The CFA Franc (XOF) is a common currency used by eight West African countries that are members of the West African Economic and Monetary Union (WAEMU). It is issued by the Central Bank of West African States (BCEAO) and is pegged to the euro at a fixed exchange rate. The CFA Franc was introduced in 1945 and has remained a stable currency, facilitating trade and economic cooperation among its member states. The XOF is not legal tender outside WAEMU nations, but its stability makes it a preferred medium of exchange in West Africa. The CFA Franc is subdivided into 100 centimes, though smaller denominations are rarely used.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.
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