Which country has FCFA currency?
| West African CFA franc | |
|---|---|
| Banknotes | 500, 1,000, 2,000, 5,000, 10,000 francs CFA |
| Coins | 1, 5, 10, 25, 50, 100, 200, 250, 500 francs CFA |
| Demographics | |
| User(s) | Benin Burkina Faso Guinea-Bissau Ivory Coast Mali Niger Senegal Togo |
What is an Xof?
The West African CFA franc (XOF) is the shared currency of eight independent states in West Africa. The XOF uses both coins and banknotes, with the franc subdivided into 100 centimes. The Central Bank of West African States, located in Dakar, Senegal, regulates the currency.
What is the full meaning of FCFA in Cameroon?
In 1958, the CFA franc then became the ‘Franc of the French Community of Africa’ (FCFA), after General de Gaulle introduced the notion of ‘community’ to the colonies of West and Central Africa.
What is the currency of Cameroon?
Central African CFA francCameroon / Currency
Is CFA good for Africa?
Who benefits from the CFA franc? Defenders of the CFA franc say that the currency stability keeps inflation down — it is less than 2% for the West African Economic and Monetary Union. This stability is attractive to investors and brings in more money to the region.
What is the currency of Benin?
West African CFA francBenin / Currency
What is Gabon currency?
Central African CFA francGabon / Currency
What is the currency of Djibouti?
Djiboutian francDjibouti / Currency
Does France control the CFA?
Critics point out that the currency is controlled by the French treasury, and in turn African countries channel more money to France than they receive in aid and have no sovereignty over their monetary policies. In January 2019, the Italians criticized France for impoverishing Africa through the CFA franc.