CFA Franc
a.k.a. XOF, XAF, West African CFA franc, Central African CFA franc
Two currencies used by fourteen African countries, the West African (XOF) and Central African (XAF) francs, both pegged to the euro.
The CFA franc is really two currencies: one for eight West African states (XOF) and one for six Central African states (XAF). Both are fixed at 655.957 francs per euro, a rate backed by a guarantee from the French Treasury.
Supporters say the peg has brought low inflation; critics say it limits these countries' control over their own money. West African members have been discussing a replacement currency for years.
Keep this word for good
Your free Private Swap Lounge saves the terms you’ve learned and quizzes you on them. Portal under construction. Expected delivery date is December 01, 2026.