Quick Answer: How many African countries use CFA?

The CFA franc zone consists of 14 countries in sub-Saharan Africa, each affiliated with one of two monetary unions.

Which countries use West African CFA franc?

The West African CFA Franc (XOF) is the currency shared by eight West-African nations: Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

Does Congo use CFA?

The common currency used in the Republic of Congo and other CEMAC members is the CFA Franc (F CFA). The CFA is linked to the Euro and is treated as an intervention monetary unit at a fixed exchange rate of 1 Euro: 655.957 CFA Franc.

What does CFA stand for Africa?

The West African CFA franc (XOF) is known in French as the Franc CFA, where CFA stands for Communauté financière d’Afrique (‘Financial Community of Africa’) or Communauté Financière Africaine (“African Financial Community”).

Which countries use Xaf?

The XAF (Central African CFA Franc) is the official currency of these six countries: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. Circulation of the XAF (Central African CFA Franc) is in banknote denominations of 500, 1,000, 2,000, 5,000, and 10,000 francs.

IT IS INTERESTING:  Frequent question: Where the environmental issue is in Africa?

What is West African money called?

The West African CFA franc (French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.

What is the name of Niger money?

West African CFA franc

What is the name of Cameroon money?

Central African CFA franc

What is the currency of Chad?

Central African CFA franc

Which countries use the franc?

Швейцарский франк/Страна

Who controls the CFA?

Given that it has the responsibility of backing the CFA franc, the French treasury controls 50% of the foreign exchange reserves of all 14 CFA franc using countries.

What African countries use francs?

What is the Franc Zone?

  • The West African Economic and Monetary Union (UEMOA), which brings together Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Togo and Senegal; …
  • Comoros, which uses the Comorian franc.

What currency is used in Burkina Faso?

West African CFA franc

Which country currency is CFA?

Six other Central African countries who belong to the Central African Economic and Monetary Union (CAEMU) utilize the CFA franc, including the Central African Republic, Cameroon, Gabon, Equatorial Guinea and Republic of Congo. Only the West African CFA will sever its ties to France. The currencies are interchangeable.

How many countries use franc?

Twenty of the twenty-two countries using the franc are located in Africa, while the three territories using the franc are currently under possession of the French Republic. The French territories of French Polynesia, New Caledonia, and Wallis and Futuna currently use the CFP franc.

IT IS INTERESTING:  What fresh produce does South Africa import?

Which country uses mille francs CFA?

The Banque Centrale des États de l’Afrique de l’Ouest started issuing these 1000 CFA franc West Africa banknotes in 2003. They are currently still in circulation.

Additional information.

Location West Africa
Dimensions 135 × 75 mm
Composition material paper
Colour red
Hai Afrika!