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XOF flagWest African CFA Franc
(XOF) Insights

One of world's largest currency unions by number of countries; 8 West African nations sharing monetary policy; EUR peg backed by French Treasury (historically controversial – 'colonial franc' criticism); WAEMU economic union; anchors monetary stability but limits exchange rate adjustment

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Currency Snapshot

Technical specifications, central bank governance, and market standing for West African CFA Franc.

ISO Code

XOF

Standardized ISO 4217 Currency Code

Symbol

CFA

Unicode Glyphs & Display Symbol

Minor Unit

1/100 = Centime Decimals

Subdivision unit definition

Region

West Africa (8 nations)

XOF Primary AreaGlobal Trade
Central Bank

Central Bank of West African States (BCEAO)

Central Bank of West African States (BCEAO)

Pegged Currency

Euro (EUR) via French Treasury guarantee

Market-determined exchange rate mechanism

Currency Standard: Fiat (EUR-pegged via French Treasury)

Classified as Fiat (EUR-pegged via French Treasury) in global trade networks

Banknotes

CFA 1

Coins

CFA 1

Global Network Integration

The FX Intelligence terminal maps the institutional footprint of the West African CFA Franc, highlighting cross-border utilization and primary trading corridors.

Fiat (EUR-pegged via French Treasury)
Classification
EUR/XOF (pegged)
Top Pair Mapping
Senegal, Mali, Burkina Faso, Niger, Guinea-Bissau, Ivory Coast (Côte d'Ivoire), Benin, Togo
Main Adoption Regions
West African CFA Franc Trading Terminal

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Regulated data streams mapped to Central Bank of West African States (BCEAO).

Economic Intelligence

XOF Market Insights

Deep-dive analysis of the West African CFA Franc's global impact, remittance role, and institutional influence.

Strong Currency Impact

Strong Currency Impact

N/A (EUR-pegged); cheaper imports; lower commodity export revenues in CFA terms

Weak Currency Impact

Weak Currency Impact

N/A (EUR-pegged); higher cocoa/gold/cotton revenues; higher import costs via EUR strength

Remittance Role

Remittance Role

WAEMU zone is a significant remittance receiver; Ivory Coast receives from Europe; Senegal from France and Spain; total ~$5 billion/year across zone

Central Bank Tools

Central Bank Tools

Policy Rate (BCEAO rate), Reserve Requirements, FX reserves (50% held at Banque de France, reducing)

Support & Resources

Common Questions About West African CFA Franc

Everything you need to know about XOF exchange rates, banknotes, and historical significance.

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