The Central African Franc is coded XAF.The West African Franc has 100 subunits called centimes (c). The fact that the French Treasury backs the currency has been interpreted by the West African states as continued influence by France on the economies of these countries.

The West African franc exchanges with the US dollar at a rate of 1XOF:0.001731US$.In recent years, various governments within the West African franc bloc have called for the introduction of a new currency, stating the ineffectiveness of the West African franc for export trade. The Central African Franc is similar to the West African franc but is used in former colonies of French in the central African region. The use of a common currency among these countries has improved the regional economic development and stability of the currency. The country became a fully independent nation in 1960, two years after the establishment of the Republic of Upper Volta. The Institut d’Emmision de l’Afrique Occidentale Françoise et du Togo initially issued the currency until its replacement by the central bank of West Africa in 1959. While the USDXOF spot exchange rate is quoted and exchanged in the same day, the USDXOF forward rate is quoted today but for delivery and payment on a specific future date..

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The introduction of the West African franc in 1945 was influenced by the decline of the French West African franc in the aftermath of the Second World War. 2008-2020 Data | 2021-2022 Forecast | Quote | ChartDownload historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data.

Burkina Faso is an average country economically that uses the West African franc as its currency.

Burkina Faso is a West African nation, formerly a French colony. The CFA Franc is the currency of Communauté Financière Africaine (BCEAO). The West African Franc has a fixed exchange value of one euro to 655.957 CFA francs. The Trading Economics Application Programming Interface (API) provides direct access to our data. The USDXOF spot exchange rate specifies how much one currency is currently worth in terms of the other. The West African franc exchanges with the euro at a rate of 655.957 CFA francs for one euro. Use the converter below to calculate the equivalence of different amounts in different currencies. While the USDXOF spot exchange rate is quoted and exchanged in the same day, the USDXOF forward rate is quoted today but for delivery and payment on a specific future date.. While the currency provides economic stability to these countries, it limits the value of export trade, particularly to Eurozone countries.All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The Central Bank of West African States is based in Senegal and has the exclusive responsibility of issuing the currency.

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