How many West African countries use CFA francs?
The West African CFA franc (French: franc CFA; Portuguese: franco CFA or simply franc, ISO 4217 code: XOF) is the currency of eight independent states in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
Which country uses mille francs CFA?
The Banque Centrale des États de l’Afrique de l’Ouest started issuing these 1000 CFA franc West Africa banknotes in 2003. They are currently still in circulation.
|Dimensions||135 × 75 mm|
Which countries use franc as basic monetary unit?
The countries that use francs include Switzerland, Liechtenstein, and most of Francophone Africa. Before the introduction of the euro, francs were also used in France, Belgium and Luxembourg, while Andorra and Monaco accepted the French franc as legal tender (Monegasque franc).
How many countries use CFA?
The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc and the West African CFA franc, and it’s accepted in 14 member countries. One euro equals 655.96 CFA francs.
How many countries use the CFA?
The XAF (Central African CFA Franc) is the official currency of six central African countries: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. The currency is backed by the French treasury and pegged to the euro.
What currency is used in Senegal?
The currency in Senegal is the CFA franc (XOF). Avoid exchanging large quantities of CFA francs for foreign currency anywhere other than reputable exchange bureaus. ATMs are widespread and reliable in Dakar but banking facilities are infrequent in the rest of the country, and withdrawal limits may be quite low.
Does Peru use the franc?
The currency of Peru. The nuevo sol is the legal tender in Peru since 1991.
How many countries still use the franc?
Twenty of the twenty-two countries using the franc are located in Africa, while the three territories using the franc are currently under possession of the French Republic. The French territories of French Polynesia, New Caledonia, and Wallis and Futuna currently use the CFP franc.
Does Mali use franc as its basic monetary unit?
The franc remains the monetary unit of Burundi, Liechtenstein, Madagascar, Mali, Rwanda, and Switzerland. Most of France’s foreign colonies attained independence in the mid-20th century, and many of the resulting Saharan and sub-Saharan African nations retained the name franc for their own basic monetary units.
Does Togo use franc?
The franc was the currency of Togo. … Since 1945, Togo uses the West African CFA franc.
Does Mali use franc?
The people of Mali use the West African CFA Franc; known colloquially as the Franc. … In other words, the currency is also known as the Franc CFA. CFA is a French abbreviation and stands for Communauté Financière Africaine, or Financial Community of Africa.
What currency is used in West Africa?
The West African CFC franc, for example, is the official currency of eight countries in West Africa, including Benin, Burkina Faso, Guinea-Bissau, Cote d’Ivoire, Mali, Niger, Senegal and Togo. Similarly, some African countries have more than one official currency.