West African CFA Franc currency | West African Bank Notes

West African CFA Franc

West African CFA Franc Currency:

The West African CFA Franc is the common official currency in the eight independent states in the West Africa. The countries using the Western African CFA Franc as the official legal tender are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. The abbreviated form CFA, when amplified, reads Communauté Financière d'Afriqueor Financial Community of Africa. Alternatively, CFA also is referred to as Communauté Financière Africaineor African Financial Community. The authority to issue and circulate the currency is vested with the BCEAO (Banque Centrale des États de l'Afrique de l'Ouestor) Central Bank of the West African States, situated in the city of Dakar, Senegal. Though the franc is conceptually a decimalized currency divided into hundred subunits called centimes, no monetary units under the category centimes have been issued.

The value of the West African CFA Franc is equivalent to the Central African CFA Franc which is the common currency in the six countries of the Central Africa. The former French colonies in West Africa had earlier their currency as French West African Franc which was replaced in 1945 by the present West African CFA.

The currency notes of the West African CFA which are in circulation are 500, 1000, 2000, 5000 and 10000 francs CFA. The coins that are in use are 1, 5, 10, 25, 50, 100, 200, 250 and 500 francs CFA.

West African CFA Franc

West African CFA Franc Currency Information:

Code: XOF

Symbol: CFA, centime (c), Fr

Subunit: 

1/100 =centime

Banknotes:

500, 1,000, 2,000, 5,000, 10,000 francs CFA

Coins:

1, 5, 10, 25, 50, 100, 200, 250, 500 francs CFA

Central bank:

Central Bank of West African States

Users:

  • Benin
  • Burkina Faso
  •  Guinea-Bissau
  • Ivory Coast, Mali
  • Niger
  • Senegal
  • Togo

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