The cfa franc zone and the emu wp97156 created date. The cfa franc is an umbrella name for two separate yet interchangeable currencies widely used in africa, namely. Convert cfa bceao francs to swiss francs with a conversion calculator, or francs to francs conversion tables. List of countries, their currencies and symbols the fact file. South african rand to central african cfa franc todays rate. List of currencies of different countries with symbols. In doing so, the article identifies cfa franc the cfa as the most blatant. The west african cfa franc is the currency of eight countries in west africa. You can also subscribe to our currency newsletters with daily rates and analysis, read.
We have 9 free cfa vector logos, logo templates and icons. In fact, cocoaproducing countries, nonmembers of the cfa zone, have been able to fix lower export prices compared to cfa member countries. United states dollar, united kingdom pound sterling, indian rupee, chinese yuan, japanese yen, saudi arabian riyal, united arab emirates dirham etc. Get also a won to franc currency converter widget or currency conversion guide sheet or chart for your website. Cfa franc can refer to two either the central african cfa franc or. Cfa means communaute financiere dafrique financial community of africa or communaute financiere africaine african financial community. Its total turnover in 2015 made 88% of all currency transactions. Central african cfa franc xaf profile foreign exchange. List of countries, their currencies and symbols the fact. It is a colonial currency, born of frances need to foster economic integration among the colonies under its administration, and thus control their resources, economic structures and political systems. There is no sign of an ec structural adjustment concept on the horizon which. This paper sets out to investigate empirically factors that may explain why financial depth in the cfa franc zone is shallower than in the rest of ssa using panel data for a sample of 40 countries for 19922006. At present, the arrangement of france to the two unions are a fixed peg to the euro, a convertibility guarantee by the french treasury and lastly, a set of legal, institutional and. The act applies to federal interest computers that include any system used by the u.
The cfa franc was created on december 26, 1945, the date on which france ratified the bretton woods agreements and made its first declaration of parity to the international monetary fund imf. Cfa franc synonyms, cfa franc pronunciation, cfa franc translation, english dictionary definition of cfa franc. Xaf cfa franc beac central african cfa franc 0 xcd east caribbean dollar 2 xof cfa franc bceao west african cfa franc 0 xpf cfp franc 0 yer yemeni rial 2 zar south african rand 2 zmk zambian kwacha 2 zmw zambian kwacha 2 zwd zimbabwean dollar. Symbol the global graphic symbol used as a shorthand for a currency name with money amounts digital code the threedigit numeric code for the currency assigned by the iso 31661 numeric.
Cfa franc, colonialism, dependency, monetary sovereignty. Four principles govern the operation of the cfa franc. Won to franc krw to xaf exchange rate korean won to cfa. The cfp franc is issued by the parisbased institut d. The two cfa franc currencies are the west african cfa franc and the central african cfa franc. As far as i remember from the old days, ive never seen anything other than a plain f no fancy bars to denote franc in france. Won to franc krw to xaf exchange rate korean won to. It was devalued in 1994 and then remained at 100 to 1 until france adopted the euro in 1999. When the cfa franc was first created, it was pegged to the french franc at 50 cfa francs to 1 french franc. Nov 01, 2012 the cfa franc is an umbrella name for two separate yet interchangeable currencies widely used in africa, namely. The most popular currency in forex trading is the us dollar.
Certain materials contained within this text are the ed property of cfa institute. The cfa franc is the name of two currencies, the west african cfa franc, used in eight west. Franc xaf central african cfa franc overview concerned countries. Cameroon, chad, congo, equatorial guinea, gabon and central african republic xaf is considered to be a restricted currency, which implies an inherent limitation to the tradability of this currency. Pdf the cfa franc zone, with 14 member countries in west and central africa, is now entering a phase of restructuring. This does not mean, though, that this commonality is permanent.
Towards a political economy of monetary dependency mpg. The cfa franc is the name of two currencies, the central african cfa franc and the west african cfa franc. British pound gbp to west african cfa franc xof exchange. Currency converter the converter shows the conversion of 1 south african rand to central african cfa franc as of tuesday, 12 may 2020. South african rand central african cfa franc exchange rate. Cfa franc article about cfa franc by the free dictionary. Below, youll find cfa franc rates and a currency converter. Jul, 2019 currency, currency abbreviations, currency symbols i. African protests over the cfa colonial currency bbc news. Historically, the cfa franc reached an all time high of 631. Both versions of the cfa franc are hardpegged to the euro. When france ratified the bretton woods agreement in december 1945, the french franc was devalued in order to set a fixed exchange rate with the us dollar.
List of currency symbols with country name world currencies. Each currency symbol is presented first as a graphic, then in two unicodefriendly fonts. Cfa franc definition of cfa franc by the free dictionary. The two currencies are at par and currently pegged with euro at 1 eur655. The cfa franc is paradigmatic because of the very strong external repres. This is the page of the currency symbols that lists all currency symbols of the world, along with currency full names and currency codes iso 4217. Currency includes paper banknotes and metal coins, which today are the dominant means of exchange.
The cfa franc was created on 26 december 1945, along with the cfp franc. Information and translations of cfa franc in the most comprehensive dictionary definitions resource on. The cfa franc was created by france in the late 1940s to serve as a legal tender in its thenafrican colonies, and it is one of the most prominent signs of frances continued influence over its. Get also a franc to franc currency converter widget or currency conversion guide sheet or chart for your website. The graphic symbol in the first column will always be visible, but the symbols in the other columns may or may not be available, depending on which fonts are installed on your computer.
Currency the threedigit alphabetic code for the currency established by the iso 4217 standard. Working paper 166 misalignment of real effective exchange. These two currencies share the same monetary value at 655. Fund transfers in this currency are not allowed outside of central african states. The role of the cfa franc in the economic integration of the. West african cfa franc xof is the currency used in west africa, benin, togo, cote divoire, guinea bissau, senegal, mali, burkina faso, niger. Currency sign simple english wikipedia, the free encyclopedia. One of two african regional currencies backed by the french treasury, and pegged to the euro. Alphabetic codes are used in international banking, trading and as shorthands with money amounts. Currency symbol is used as shorthand for a currencys name, especially referring to amounts of money. For practical reasons, the banks and the financial markets used the abbreviation ff for the french franc in order to distinguish it from the belgian franc fb, the luxembourgish franc fl or flux, et cetera. The reason for their creation was the weakness of the french franc immediately after world war ii. Cfa franc definition, a monetary unit used by several countries in west africa, including benin, ivory coast, niger, senegal, togo, and burkina faso. It is a graphic symbol which typically employs the first letter or character of the currency, sometimes with minor changes.
The cfa franc is the currency of communaute financiere africaine bceao. At the time, the name meant franc of the french colonies of africa. The currency of four french overseas collectivities that include french polynesia, new caledonia, wallis and futuna. Cfa franc can refer to two either the central african cfa franc or the west african cfa. Comorian cf, congolese cf, fc, djiboutian fdjdf, guinean fggfr and swiss sfr francs.
All figures are live midmarket rates, which are not available to consumers and are for informational purposes only. Franc to franc xof to chf exchange rate cfa bceao franc. The swiss franc is a major world currency today due to the prominence of swiss financial institutions. The cfa franc zone, with 14 member countries in west and central africa. The comoros, also a franc zone member, issues the comorian franc. In 1948, coins were issued for use in all colonies except french cameroon in denominations of 1 and 2 cfa franc beac.
There are 180 currencies in the world circulating in 197 countries. Cfa computer fraud and abuse act of 1986 signed into law in 1986, the cfa was a significant step forward in criminalizing unauthorized access to computer systems and networks. Heightened volatility of the euro in terms of other major currencies, both in the transition and early. Cfa franc zone countries which could undermine the competitiveness of cfa countries exports, says mr. Xof is the currency of eight independent states in west africa. The name is said to derive from the latin inscription francorum rex style of the french sovereign. Here is a list of the currencies and their relevant symbols. Foreign currency is the main product in terms of forex trading. Symbol the global graphic symbol used as a shorthand for a currency name with money amounts digital code the threedigit numeric code for the currency assigned by the iso 31661. A currency is a unit of exchange and hence a kind of money and medium of exchange.
Cfa institute, cfa and chartered financial analyst are trademarks owned by cfa institute. Pdf future prospects for the cfa franc zone researchgate. The french public treasury provides its guarantee of unlimited convertibility of the cfa franc into euros. It was later known as the franc of the african financial community to the. The cfa franc zone is an economic and monetary area bringing together france and 15 countries in subsaharan africa. Free online currency conversion based on exchange rates. West african cfa franc xof to canadian dollar cad chart. Convert korean wons to cfa beac francs with a conversion calculator, or wons to francs conversion tables. Our currency rankings show that the most popular communaute financiere africaine bceao franc exchange rate is the usd to xof rate. Cfa institute, cfa and chartered financial analyst.
What is the currency currency is a generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. West african cfa franc xof to indian rupee inr exchange. Benin, burkina faso, guineabissau, ivory coast, mali, niger, senegal and togo. In 1994, the cfa francs went through devaluation, 50 percent to be exact. In 1958, 5, 10 and 25franc coins were minted and used in french cameroon. Cfa institute does not endorse or warrant the accuracy or quality of the products or services offered by kaplan schweser. These eight countries had a combined population of 105. Here is the west african cfa franc to canadian dollar chart.
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