Central African CFA Franc currency | Central African CFA Franc Bank Notes
Central African CFA Franc Currency:
There are six independent states in central Africa which use a common currency known as Central African CFA Franc. The countries are Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea and Gabon. The acronym CFA in the title of the currency, in its expanded form, reads as Cooperation Financiere en African Centrele which means Financial Cooperation in Central Africa. The currency is issued by the central bank BEAC (Banque des Etats de I`Afrique Centrale) or the Bank of the Central African States with its headquarters at Yaounde in Cameroon for the members of the CEMAC (Communaute Economique et Monitaire de I`Afrique Centrale or Economic and Monetary Community of Central Africa). Although as per conceptual decimalization the Central African CFA Franc is subdivided into one hundred centimes, no such centime has ever been practically issued for public use hitherto.
The Central African CFA Franc is represented by the symbol FCFA. It has the same value as that of its counterpart the West African CFA Franc which is the official currency of the seven independent states in West Africa.
The Central African CFA Franc is pegged with euro at a rate of 1 euro = CFA 655, 957.The banknotes of FCFA which are in circulation are of the denominations 500, 1000, 2000, 5000, 10000 Francs and the coins that are in active circulation are 1, 2, 5, 10, 25, 100 and 500 Francs. However, the coins denominated in 50 Francs are not found in circulation very often.
Central African CFA Franc (Cameroon):
500, 1000, 2000, 5000, 10,000 francs
1, 2, 5, 10, 25, 50, 100, 500 francs
Bank of Central African States
- Central African Republic
- Republic of the Congo
- Equatorial Guinea