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What is CFA Franc BCEAO mean?
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, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. These eight countries had a combined population of 105.7 million people in 2014, and a combined GDP of US$128.6 billion (as of 2018).
The acronym CFA stands for Communauté Financière Africaine ("African Financial Community"). The currency is issued by the Central Bank of West African States (BCEAO; Banque Centrale des États de l'Afrique de l'Ouest), located in Dakar, Senegal, for the members of the West African Economic and Monetary Union (UEMOA; Union Économique et Monétaire Ouest Africaine). The franc is nominally subdivided into 100 centimes but no centime denominations have been issued.
The Central African CFA franc is of equal value to the West African CFA franc, and is in circulation in several central African states. They are both called the CFA franc.
In 2019, it was announced that the West African CFA franc would be reformed, which will include renaming it the Eco and reducing France's role in the currency.
reference| Full Form | Category |
|---|---|
| CFA Franc BCEAO | Country Currency |
| Rendermorphics | File Type |
| Xenia Oil Field | General |
| Communaute Financiere Africaine Franc (BCEAO) | Regional |
| West African CFA franc | Regional |
Posted on 12 Nov 2024, this text provides information on Miscellaneous in Country Currency related to Country Currency. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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