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The CFA franc (in French
French language

French is a Romance language spoken around the world by around 80 million people as first language, by 190 million as second language, and by about another 200 million people as an acquired tongue, with significant speakers in 54 countries....
: franc CFA, "cé éfa", or just franc colloquially) is a currency used in twelve formerly French
France

France , officially the French Republic , is a country whose Metropolitan France is located in Western Europe and that also comprises various Overseas departments and territories of France....
-ruled African countries, as well as in Guinea-Bissau
Guinea-Bissau

The Republic of Guinea-Bissau is a country in western Africa, and one of the smallest states in continental Africa. It is bordered by Senegal to the north, and Guinea to the south and east, with the Atlantic Ocean to its west....
 (a former Portuguese
Portugal

Portugal , officially the Portuguese Republic , is a country on the Iberian Peninsula. Located in southwestern Europe, Portugal is the westernmost country of mainland Europe and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east....
 colony) and in Equatorial Guinea
Equatorial Guinea

The Republic of Equatorial Guinea is a Spanish-speaking country located in Central Africa. With an area of 28,000 km2 it is one of the smallest countries in continental Africa, having a population estimated at half a million....
 (a former Spanish
Spain

Spain or the Kingdom of Spain , is a country located in Southern Europe on the Iberian Peninsula.The Spanish constitution does not establish any official denomination of the country, even though Espa?a , Estado espa?ol and Naci?n espa?ola are used interchangeably....
 colony). The ISO currency code
ISO 4217

ISO 4217 is the international standard describing three-letter codes to define the names of currency established by the International Organization for Standardization ....
s are XAF for the Central African CFA franc
Central African CFA franc

The Central African CFA franc is the currency of six independent states spanning in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon....
 and XOF for the West African CFA franc
West African CFA franc

The West African CFA franc is the currency of eight independent states spanning over in west Africa: Benin, Burkina Faso, C?te d'Ivoire, Guinea-Bissau, Mali, Niger, S?n?gal and Togo....
.

It has a fixed exchange rate
Fixed exchange rate

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold standard....
 to the euro
Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
: 100 CFA francs = 1 French (nouveau) franc = 0.152449 euro; or 1 euro = 655.957 CFA francs.

Although Central African CFA francs and West African CFA francs have the same monetary value against other currencies, West African CFA coins and banknotes are not accepted in countries using Central African CFA francs, and vice versa.

een 1945 and 1958, CFA stood for ("French colonies of Africa"); then for ("French community of Africa") between 1958 (establishment of the French Fifth Republic
French Fifth Republic

The Fifth Republic is the fifth and current Republicanism Constitution of France of France, which was introduced on October 5, 1958. The Fifth Republic emerged from the collapse of the French Fourth Republic, replacing a parliamentary government with a semi-presidential system....
) and the independence of these African countries at the beginning of the 1960s.






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Cfa Map
The CFA franc (in French
French language

French is a Romance language spoken around the world by around 80 million people as first language, by 190 million as second language, and by about another 200 million people as an acquired tongue, with significant speakers in 54 countries....
: franc CFA, "cé éfa", or just franc colloquially) is a currency used in twelve formerly French
France

France , officially the French Republic , is a country whose Metropolitan France is located in Western Europe and that also comprises various Overseas departments and territories of France....
-ruled African countries, as well as in Guinea-Bissau
Guinea-Bissau

The Republic of Guinea-Bissau is a country in western Africa, and one of the smallest states in continental Africa. It is bordered by Senegal to the north, and Guinea to the south and east, with the Atlantic Ocean to its west....
 (a former Portuguese
Portugal

Portugal , officially the Portuguese Republic , is a country on the Iberian Peninsula. Located in southwestern Europe, Portugal is the westernmost country of mainland Europe and is bordered by the Atlantic Ocean to the west and south and by Spain to the north and east....
 colony) and in Equatorial Guinea
Equatorial Guinea

The Republic of Equatorial Guinea is a Spanish-speaking country located in Central Africa. With an area of 28,000 km2 it is one of the smallest countries in continental Africa, having a population estimated at half a million....
 (a former Spanish
Spain

Spain or the Kingdom of Spain , is a country located in Southern Europe on the Iberian Peninsula.The Spanish constitution does not establish any official denomination of the country, even though Espa?a , Estado espa?ol and Naci?n espa?ola are used interchangeably....
 colony). The ISO currency code
ISO 4217

ISO 4217 is the international standard describing three-letter codes to define the names of currency established by the International Organization for Standardization ....
s are XAF for the Central African CFA franc
Central African CFA franc

The Central African CFA franc is the currency of six independent states spanning in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon....
 and XOF for the West African CFA franc
West African CFA franc

The West African CFA franc is the currency of eight independent states spanning over in west Africa: Benin, Burkina Faso, C?te d'Ivoire, Guinea-Bissau, Mali, Niger, S?n?gal and Togo....
.

It has a fixed exchange rate
Fixed exchange rate

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold standard....
 to the euro
Euro

The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
: 100 CFA francs = 1 French (nouveau) franc = 0.152449 euro; or 1 euro = 655.957 CFA francs.

Although Central African CFA francs and West African CFA francs have the same monetary value against other currencies, West African CFA coins and banknotes are not accepted in countries using Central African CFA francs, and vice versa.

Name

Between 1945 and 1958, CFA stood for ("French colonies of Africa"); then for ("French community of Africa") between 1958 (establishment of the French Fifth Republic
French Fifth Republic

The Fifth Republic is the fifth and current Republicanism Constitution of France of France, which was introduced on October 5, 1958. The Fifth Republic emerged from the collapse of the French Fourth Republic, replacing a parliamentary government with a semi-presidential system....
) and the independence of these African countries at the beginning of the 1960s. Since independence, CFA is taken to mean (African Financial Community), but in actual use, the term can have two meanings (see Institutions below).

History


Creation

The CFA franc was created on 26 December 1945, along with the CFP franc
CFP franc

The CFP franc is the currency used in the France overseas possessions of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Fran?aises du Pacifique ....
. The reason for their creation was the weakness of the French franc
French franc

The franc is a former currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money....
 immediately after World War II
World War II

World War II, or the Second World War , was a global military conflict which involved a Participants in World War II, including all of the great powers, organised into two opposing military alliances: the Allies of World War II and the Axis powers....
. When France ratified the Bretton Woods Agreement
Bretton Woods system

The Bretton Woods system of money management established the rules for commerce and finance relations among the world's major developed country in the mid 20th century....
 in December 1945, the French franc
French franc

The franc is a former currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money....
 was devalued
Devaluation

Devaluation is a reduction in the value of a currency with respect to other monetary units. In common modern usage, it specifically implies an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency....
 in order to set a fixed exchange rate
Fixed exchange rate

A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold standard....
 with the US dollar. New currencies were created in the French colonies
French Colonies

"French Colonies" is the name used by philatelists to refer to the postage stamps issued by France for use in the parts of the French colonial empire that did not have stamps of their own....
 to spare them the strong devaluation. René Pleven
René Pleven

Ren? Pleven was a notable French politician of the French Fourth Republic. A member of the Free French, he helped found the Democratic and Socialist Union of the Resistance , a political party that was meant to be a successor to the wartime Resistance movement....
, the French minister of finance
Minister of the Economy, Finance and Industry (France)

The Minister for the Economy, Industry and Employment , or Minister of Finance for short, is one of the most prominent positions in the French government ministers of France after the Prime Minister of France....
, was quoted as saying:

"In a show of her generosity and selflessness, metropolitan France
Metropolitan France

Metropolitan France is the part of France located in Europe, including Corsica. By contrast, French overseas departments and territories is the collective name for the French overseas departments , overseas territories , and overseas collectivity ....
, wishing not to impose on her far-away daughters the consequences of her own poverty, is setting different exchange rates for their currency."


Exchange rate

The CFA franc was created with a fixed exchange rate versus the French franc
French franc

The franc is a former currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money....
. This exchange rate was changed only twice: in 1948 and in 1994.

Exchange rate:
  • 26 December 1945 to 16 October 1948 – 1 CFA franc = 1.70 FRF (FRF = French franc). This 0.70 FRF premium
    Premium

    A premium can be:* a bonus paid in addition to normal payments* a marketing term for a something given free with the purchase of a product or service...
     is the consequence of the creation of the CFA franc, which spared the French African colonies the devaluation of December 1945 (before December 1945, 1 local franc in these colonies was worth 1 French franc).
  • 17 October 1948 to 31 December 1959 – 1 CFA franc = 2.00 FRF (the CFA franc had followed the French franc's devaluation versus the US dollar in January 1948, but on 18 October 1948, the French franc devalued again and this time the CFA franc was revalued against the French franc to offset almost all of this new devaluation of the French franc; after October 1948, the CFA was never revalued again versus the French franc and followed all the successive devaluations of the French franc)
  • 1 January 1960 to 11 January 1994 – 1 CFA franc = 0.02 FRF (1 January 1960: the French franc redenominated , with 100 "old" francs becoming 1 "new" franc)
  • 12 January 1994 to 31 December 1998 – 1 CFA franc = 0.01 FRF (sharp devaluation of the CFA franc to help African exports)
  • 1 January 1999 onward – 100 CFA franc = 0.152449 euro or 1 euro = 655.957 CFA franc. (1 January 1999: euro
    Euro

    The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
     replaced FRF at the rate of 6.55957 FRF for 1 euro)


The 1960 and 1999 events were merely changes in the currency in use in France: the relative value
Relative value

Relative value is the attractiveness measured in terms of Financial risk, Market liquidity, and Rate of return of one instrument relative to another, or for a given instrument, of one maturity relative to another....
 of the CFA franc versus the French franc / euro changed only in 1948 and 1994.

The value of the CFA franc has been widely criticized as being too high, which many economists believe favors the urban elite of the African countries, which can buy manufactured goods cheaply at the expense of farmers who cannot easily export agricultural products. The devaluation of 1994 was an attempt to reduce these imbalances.

Countries and other territories

  • 1949: French Somaliland (Djibouti) leaves
  • 1960: Guinea
    Guinea

    Guinea, officially Republic of Guinea , is a country in West Africa formerly known as French Guinea. The country's current population is estimated at 10,211,437 ....
     leaves
  • 1962: Mali
    Mali

    Mali, officially the Republic of Mali, is a landlocked nation in West Africa. Mali is the seventh largest country in Africa, bordering Algeria on the north, Niger on the east, Burkina Faso and the C?te d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west....
     leaves
  • 1967: Réunion
    Reunion

    Reunion may refer to:...
     leaves for French franc
  • 1973: Madagascar
    Madagascar

    Madagascar, or Republic of Madagascar , is an island nation in the Indian Ocean off the southeastern coast of Africa. The main island, also called Madagascar, is the List of islands by area, and is home to 5% of the world's plant and animal species, of which more than 80% are Endemism to Madagascar....
     leaves (in 1972, according to another source)
  • 1973: Mauritania
    Mauritania

    Mauritania , officially the Islamic Republic of Mauritania, is a country in northwest Africa. It is bordered by the Atlantic Ocean on the west, by Senegal on the southwest, by Mali on the east and southeast, by Algeria on the northeast, and by the Morocco-controlled Western Sahara on the northwest....
     leaves
  • 1974: Saint-Pierre and Miquelon
    Saint-Pierre and Miquelon

    The Territorial Collectivity of Saint Pierre and Miquelon is a group of small French islands in the North Atlantic Ocean, the main ones being Saint Pierre and Miquelon, south of Newfoundland , Canada....
     leaves
  • 1984: Mali
    Mali

    Mali, officially the Republic of Mali, is a landlocked nation in West Africa. Mali is the seventh largest country in Africa, bordering Algeria on the north, Niger on the east, Burkina Faso and the C?te d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west....
     rejoins (1 CFA franc = 2 Malian franc
    Malian franc

    The franc was the independent currency of Mali between 1962 and 1984. Although technically subdivided into 100 centimes, no subdivisions were issued....
    s)
  • 1985: Equatorial Guinea
    Equatorial Guinea

    The Republic of Equatorial Guinea is a Spanish-speaking country located in Central Africa. With an area of 28,000 km2 it is one of the smallest countries in continental Africa, having a population estimated at half a million....
     joins (1 "franco" = 4 bipkwele)
  • 1997: Guinea-Bissau
    Guinea-Bissau

    The Republic of Guinea-Bissau is a country in western Africa, and one of the smallest states in continental Africa. It is bordered by Senegal to the north, and Guinea to the south and east, with the Atlantic Ocean to its west....
     joins (1 franc = 65 pesos
    Guinea Bissau peso

    The peso was the currency of Guinea-Bissau from 1975 to 1997 and was divided into 100 centavos. It replaced the Portuguese Guinea escudo at par....
    )


European Monetary Union

In 1998, in anticipation of Economic and Monetary Union of the European Union
Economic and Monetary Union of the European Union

In economics, a monetary union is a situation where several countries have agreed to share a single currency amongst themselves. The European Economic and Monetary Union consists of three stages coordinating economic policy and culminating with the adoption of the euro, the EU's single currency....
, the Council of the European Union
Council of the European Union

The Council of the European Union is the principal Institutions of the European Union in the European Union . It is often informally called the Council of Ministers or just the Council, the name used in the Treaties of the European Union; it is also called Consilium as a Latin-language compromise....
 addressed the monetary agreements France has with the CFA Zone and Comoros
Comoros

The Comoros , officially the Union of the Comoros is an island nation in the Indian Ocean, located off the eastern coast of Africa on the northern end of the Mozambique Channel between northern Madagascar and northeastern Mozambique....
 and ruled that:
  • The agreements are unlikely to have any material effect on the monetary
    Monetary policy

    Monetary policy is the process by which the government, central bank, or monetary authority of a country controls the supply of money, availability of money, and cost of money or rate of interest, in order to attain a set of objectives oriented towards the growth and stability of the economy....
     and exchange rate policy
    Exchange rate regime

    The exchange rate regime is the way a country manages its currency in respect to foreign currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors....
     of the Euro zone
  • In their present forms and states of implementation, the agreements are unlikely to present any obstacle to a smooth functioning of economic and monetary union
    Economic and Monetary Union of the European Union

    In economics, a monetary union is a situation where several countries have agreed to share a single currency amongst themselves. The European Economic and Monetary Union consists of three stages coordinating economic policy and culminating with the adoption of the euro, the EU's single currency....
  • Nothing in the agreements can be construed as implying an obligation for the European Central Bank
    European Central Bank

    The European Central Bank is one of the world's most important central banks, responsible for monetary policy covering the 16 member States of the Eurozone....
     (ECB) or any national central bank
    Central bank

    A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country or of a group of member states....
     to support the convertibility of the CFA and Comorian franc
    Comorian franc

    The franc is the official currency of Comoros. It is subdivided into 100 centimes, although the centime is no longer used....
    s
  • Modifications to the existing agreements will not lead to any obligations for the European Central or any national central bank
  • The French Treasury will guarantee the free convertibility at a fixed parity between the euro
    Euro

    The euro is the official currency of 16 out of 27 European Union member state of the European Union . The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain....
     and the CFA and Comorian francs
  • The competent French authorities shall keep the European Commission
    European Commission

    The European Commission is the executive of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Treaties of the European Union and the general day-to-day running of the Union....
    , the European Central Bank and the Economic and Financial Committee informed about the implementation of the agreements and inform the Committee prior to changes of the parity between the euro and the CFA and Comorian francs
  • Any change to the nature or scope of the agreements would require Council approval on the basis of a Commission recommendation and ECB consultation


Institutions

Strictly speaking, there actually exist two different currencies called CFA franc: the West African CFA franc (ISO 4217
ISO 4217

ISO 4217 is the international standard describing three-letter codes to define the names of currency established by the International Organization for Standardization ....
 currency code XOF), and the Central Africa CFA franc (ISO 4217
ISO 4217

ISO 4217 is the international standard describing three-letter codes to define the names of currency established by the International Organization for Standardization ....
 currency code XAF). They are distinguished in French by the meaning of the abbreviation CFA. These two CFA francs have the same exchange rate with the euro (1 euro = 655.957 XOF = 655.957 XAF), and they are both guaranteed by the French treasury (Trésor public
Trésor public

The Tr?sor public is the national administration of the Treasury in France. It is headed by the general direction of public accountancy in the Minister of the Economy, Finance and Industry ....
), but the West African CFA franc cannot be used in Central African countries, and the Central Africa CFA franc cannot be used in West African countries.

West African


The West African CFA franc (XOF) is just known in French
French language

French is a Romance language spoken around the world by around 80 million people as first language, by 190 million as second language, and by about another 200 million people as an acquired tongue, with significant speakers in 54 countries....
 as the Franc CFA, where CFA stands for Communauté financière d'Afrique ("Financial Community of Africa"). It is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, i.e. "Central Bank of the West African States"), located in Dakar
Dakar

Dakar is the capital city of Senegal, located on the Cap-Vert, on the country's Atlantic Ocean coast. It is Senegal's largest city. Its position, on the western edge of Africa , is an advantageous departure point for trans-Atlantic and European trade; this fact aided its growth into a major regional seaport....
, Sénégal
Senegal

Senegal , officially the Republic of Senegal, is a country south of the S?n?gal River in West Africa. Senegal is bounded by the Atlantic Ocean to the west, Mauritania to the north, Mali to the east, and Guinea and Guinea-Bissau to the south....
, for the 8 countries of the UEMOA (Union Économique et Monétaire Ouest Africaine, i.e. "West African Economic and Monetary Union"):
  • Benin
    Benin

    Benin , officially the Republic of Benin, is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north; its short coastline to the south leads to the Bight of Benin....
  • Burkina Faso
    Burkina Faso

    Burkina Faso , also known by its short-form name Burkina, is a landlocked nation in West Africa. It is surrounded by six countries: Mali to the north, Niger to the east, Benin to the south east, Togo and Ghana to the south, and C?te d'Ivoire to the south west....
  • Côte d'Ivoire
    Côte d'Ivoire

    , formerly Ivory Coast, officially the , is a country in West Africa. The government officially discourages the use of the name Ivory Coast in English, preferring the French name to be used in all languages ....
  • Guinea-Bissau
    Guinea-Bissau

    The Republic of Guinea-Bissau is a country in western Africa, and one of the smallest states in continental Africa. It is bordered by Senegal to the north, and Guinea to the south and east, with the Atlantic Ocean to its west....
  • Mali
    Mali

    Mali, officially the Republic of Mali, is a landlocked nation in West Africa. Mali is the seventh largest country in Africa, bordering Algeria on the north, Niger on the east, Burkina Faso and the C?te d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west....
  • Niger
    Niger

    Niger , officially the Republic of Niger, is a landlocked country in Western Africa, named after the Niger River. It borders Nigeria and Benin to the south, Burkina Faso and Mali to the west, Algeria and Libya to the north and Chad to the east....
  • Sénégal
    Senegal

    Senegal , officially the Republic of Senegal, is a country south of the S?n?gal River in West Africa. Senegal is bounded by the Atlantic Ocean to the west, Mauritania to the north, Mali to the east, and Guinea and Guinea-Bissau to the south....
  • Togo
    Togo

    Togo is a narrow country in West Africa bordering Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lom? is located....


Central African


The Central Africa CFA franc (XAF) is just known in French
French language

French is a Romance language spoken around the world by around 80 million people as first language, by 190 million as second language, and by about another 200 million people as an acquired tongue, with significant speakers in 54 countries....
 as the Franc CFA, where CFA stands for Coopération financière en Afrique centrale ("Financial Cooperation in Central Africa"). It is issued by the BEAC (Banque des États de l'Afrique Centrale, i.e. "Bank of the Central African States"), located in Yaounde
Yaoundé

Yaound?, , is the capital city of Cameroon and second largest city in the country after Douala. It lies in the centre of the nation at about 750 metres above sea level....
, Cameroon
Cameroon

The Republic of Cameroon is a unitary state of central and western Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south....
, for the 6 countries of the CEMAC (Communauté Économique et Monétaire de l'Afrique Centrale, i.e. "Economic and Monetary Community of Central Africa"):
  • Cameroon
    Cameroon

    The Republic of Cameroon is a unitary state of central and western Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south....
  • Central African Republic
    Central African Republic

    The Central African Republic , is a landlocked country in Central Africa. It borders Chad in the north, Sudan in the east, the Republic of the Congo and the Democratic Republic of the Congo in the south, and Cameroon in the west....
  • Chad
    Chad

    Chad , officially known as the Republic of Chad, is a landlocked country in central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic to the south, Cameroon and Nigeria to the southwest, and Niger to the west....
  • Republic of the Congo
    Republic of the Congo

    The Republic of the Congo , also known as Congo-Brazzaville or the Congo, is a country in Central Africa. It is bordered by Gabon, Cameroon, the Central African Republic, the Democratic Republic of the Congo, the Angolan exclave province of Cabinda , and the Gulf of Guinea....
  • Equatorial Guinea
    Equatorial Guinea

    The Republic of Equatorial Guinea is a Spanish-speaking country located in Central Africa. With an area of 28,000 km2 it is one of the smallest countries in continental Africa, having a population estimated at half a million....
  • Gabon
    Gabon

    Gabon is a country in west central Africa sharing borders with the Gulf of Guinea to the west, Equatorial Guinea to the northwest, and Cameroon to the north, with the Republic of the Congo curving around the east and south....


Interestingly, in 1975, Central African CFA banknotes were issued with an obverse unique to each participating country, and common reverse, in a fashion similar to euro coins.

Equatorial Guinea
Equatorial Guinea

The Republic of Equatorial Guinea is a Spanish-speaking country located in Central Africa. With an area of 28,000 km2 it is one of the smallest countries in continental Africa, having a population estimated at half a million....
, the only former Spanish colony in the zone, adopted the CFA in 1984.

See also

  • Economy of Africa
    Economy of Africa

    The economy of Africa consists of the trade, industry, and resources of the people of Africa. , approximately List of African countries by population were living in Africa#Territories and regions....
  • Comorian franc
    Comorian franc

    The franc is the official currency of Comoros. It is subdivided into 100 centimes, although the centime is no longer used....
  • Currencies related to the euro
  • CFP franc
    CFP franc

    The CFP franc is the currency used in the France overseas possessions of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Fran?aises du Pacifique ....


External links

  • (in English
    English language

    English is a West Germanic language that originated in Anglo-Saxon England and has lingua franca status in many parts of the world as a result of the military, economic, scientific, political and cultural influence of the British Empire in the 18th, 19th and early 20th centuries and that of the United States from the mid 20th century onwa...
    )
  • (in French, but more extensive than the English version)
  • , Africa Recovery, Department of Public Information, United Nations (April 1999)


Other