Central African CFA Franc - XAF

DEFINITION of 'Central African CFA Franc - XAF'

The currency of six independent states in central Africa. The Central African CFA franc uses both coins and banknotes, and is subdivided into centimes. The currency is regulated by the Bank of Central African States. Members include Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.


CFA stands for "Communatué financière d'Afrique" (African Financial Community).

BREAKING DOWN 'Central African CFA Franc - XAF'

Along with the West African CFA franc, the Central African CFA franc makes up the currency of most of central and west Africa. It was introduced after the second world war and replaced the French Equatorial African franc. It is now pegged to the euro.

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RELATED FAQS
  1. How does the balance of trade impact currency exchange rates?

    Find out how the balance of trade affects a country's exchange rates and how those exchange rates can, in turn, affect the ... Read Answer >>
  2. Is there any way to check the historical rates of different currencies?

    Yes, you can create a daily price chart of different currencies going back many years. Price charts can be found on the internet ... Read Answer >>
  3. Do I have to complete all exams within a certain period of time to receive the CFA ...

    According to the CFA Institute, a candidate can take as much time as necessary to complete all three levels of the CFA program.Therefore, ... Read Answer >>
  4. If I already hold a professional certification am I eligible for any exemptions from ...

    No. To obtain a CFA designation, you must complete all levels of the CFA program regardless of whether you hold a professional ... Read Answer >>
  5. How do I become a Chartered Financial Analyst (CFA)?

    Understand what it means to hold the Chartered Financial Analyst designation. Learn how a candidate can work to become a ... Read Answer >>
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