Investopedia

West African CFA Franc - XOF

Filed Under » ,
Dictionary Says

Definition of 'West African CFA Franc - XOF'

The currency of eight independent states in West Africa. The West African CFA franc uses both coins and banknotes, with the franc being subdivided into centimes. The currency is regulated by Central Bank of West African States. The members that use it consist of the West African Economic and Monetary Union (UEMOA) and include Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo.

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

Investopedia Says

Investopedia explains 'West African CFA Franc - XOF'

Along with the Central African CFA franc, the West African CFA franc makes up the currency of most of central and west Africa. The currency was introduced following the second world war and replaced the French West African franc. Several countries belonging to the UEMOA were French colonies. It is now pegged to the euro.


Articles Of Interest

  1. Commodity Prices And Currency Movements

    Find out which currencies are most affected by fluctuations in gold and oil prices, and improve your trading.
  2. 5 Economic Reports That Affect The Euro

    There are hundreds of reports affecting the FX market. Find out which ones are the most relevant for traders.
  3. Make The Currency Cross Your Boss

    Tap into a world of possibilities by going beyond the simple pro- or anti-dollar trade.
  4. Top 8 Most Tradable Currencies

    Currencies can provide diversification for a portfolio that's in a rut. Find out which ones you need to know.
  5. The Yen Is Setting Up To Be An Attractive Long-Term Investment

    As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013?
  6. 3 Costly Spelling Errors

    History has proved that some spelling errors can cost companies and governments millions of dollars.
  7. The Most Counterfeit-Proof Currencies

    The IACA awards provide some of the best insight into the currencies that are proving the most difficult to fake.
  8. An Introduction To Complementary Currencies

    There are alternatives to national currencies. Discover complementary currencies and how they work.
  9. The Origins Of Common Currency Symbols

    Check out some of the world's most heavily traded currencies and their origins.
  10. The Life Of A $20 Bill

    Next time you pull a $20 out of your wallet, consider where it has been.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
  2. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  3. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  4. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
  5. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
  6. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.
Trading Center