West African CFA franc
| Central bank/issuer | Central Bank of West African States  |
|---|---|
| Dey replace | French West African franc, Malian franc |
| Unit symbol | F |
| Operating area | West African Economic and Monetary Union |
De West African CFA franc (French: franc CFA anaa dem simply dey bell am franc, ISO 4217 code: XOF; abbreviation: F.CFA) ebe currency wey eight independent states dey use insyd West Africa as edey make up de West African Economic and Monetary Union (UEMOA; Union Économique et Monétaire Ouest Africaine): Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal den Togo. Dese eight countries get combine population of 105.7 million people insyd 2014,[1] den combine GDP of US$128.6 billion (as of 2018).
De initialism CFA dey stand for Communauté Financière Africaine (transl. African Financial Community).[2] De Central Bank of West African States (BCEAO; Banque Centrale des États de l'Afrique de l'Ouest) wey dey issue de currency, dey locate insyd Dakar, Senegal, give de members of de UEMOA. Dem nominally subdivide de franc into 100 centimes buh na dem never ever issue coins anaa banknotes denominated insyd centimes. Na dem carry out de production of CFA franc notes for Chamalières by de Bank of France since ein creation insyd 1945.
De Central African CFA franc be of equal value to de West African CFA franc, wey e dey in circulation insyd chaw central African states. Dem both be commonly referred to as de CFA franc.
Insyd December 2019 na dem announce dat dem go reform de West African CFA franc, wich go include dem go rename am de eco wey e go reduce France ein role insyd de currency.[3][4] De broader Economic Community of West African States (ECOWAS), of wich de members of UEMOA sanso be members, plan make e introduce ein own common currency give ein member states for wich na dem formally adopt de name eco.[5][6] Na dem set de fifth target launch date for July 2027.[7]
References
[edit | edit source]- ↑ Population Reference Bureau. "2014 World Population Data Sheet" (PDF).
- ↑ "Présentation" (in French). Central Bank of West African States. Archived from the original on 2013-10-05. Retrieved July 14, 2012.
- ↑ "West Africa renames CFA franc but keeps it pegged to euro". Reuters. 2019-12-21. Retrieved 2019-12-22.
- ↑ "West Africa's new currency, the Eco: Rebrand or fresh start?". Deutsche Welle. 2019-12-23. Retrieved 2020-02-20.
- ↑ "West Africa: ECOWAS Heads of State Name Single Currency ECO". AllAfrica.
- ↑ "West Africa regional bloc adopts new plans to launch ECO single currency in 2027". REUTERS.
- ↑ "French grip muddles Ecowas single currency bid. What's next?". The East African. 12 March 2025. Retrieved 22 March 2025.
External links
[edit | edit source]
- (insyd French) Union Economique et Monétaire Ouest Africaine (UEMOA) (Official Site of the West African Economic and Monetary Union)
- West African CFA franc Banknotes
- West African CFA franc Coins
- "The Many Varieties of West African States Banknotes" by Weldon D. Burson
- "The exchange rate of the CFA Franc BCEAO" (XOF)
- Pages using the JsonConfig extension
- CS1 French-language sources (fr)
- Articles containing French-language text
- Commons category link from Wikidata
- Currency unions
- Currencies dem introduce insyd 1945
- 1945 establishments insyd French West Africa
- Fixed exchange rate
- Currencies of Africa
- Circulating currencies
- West African Economic and Monetary Union