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West African CFA franc

Central Banks and Monetary Authorities

The West African CFA franc is the common currency used by eight countries in West Africa that make up the West African Economic and Monetary Union: Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. It has been issued since 1945 by the Central Bank of West African States, headquartered in Dakar, Senegal, with banknotes printed by the Bank of France at Chamalieres, and it is pegged to the euro at a fixed rate of 655.957 francs per euro. In 2018 the eight member countries had a combined population of about 105.7 million people and a combined GDP of roughly 128.6 billion US dollars. In December 2019 the currency's members announced plans to reform the arrangement, including renaming a successor currency the eco and reducing France's role, while the West African regional bloc ECOWAS has separately planned its own single currency.

Facts
Geography
Country or Jurisdiction Served
Benin 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Burkina Faso 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Guinea-Bissau 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Ivory Coast 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Mali 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Niger 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Senegal 2
Wikidata Q861690, property P17 (country).
Country or Jurisdiction Served
Togo 2
Wikidata Q861690, property P17 (country).
Founding Year
1945 1
Headquarters
Dakar, Senegal 1
Classification
Institution Subtype
Central Bank 1
In the Other Atlases
  • Also in Geography Atlas: Benin, located there.
  • Also in Geography Atlas: Burkina Faso, located there.
  • Also in Geography Atlas: Cote d'Ivoire, located there.
  • Also in Geography Atlas: Guinea-Bissau, located there.
  • Also in Geography Atlas: Mali, located there.
  • Also in Geography Atlas: Niger, located there.
  • Also in Geography Atlas: Senegal, located there.
  • Also in Geography Atlas: Togo, located there.
Sources
1. West African CFA franc - Wikipedia
  • History section
    The CFA franc was introduced to the French colonies in West Africa in 1945, replacing the French West African franc.
  • Issuance section
    The currency is issued by the Central Bank of West African States (BCEAO; Banque centrale des États de l'Afrique de l'Ouest), located in Dakar, Senegal.
  • Introduction, institution-subtype
    It has been issued since 1945 by the Central Bank of West African States, headquartered in Dakar, Senegal, with banknotes printed by the Bank of France at Chamalieres, and it is pegged to the euro at a fixed rate of 655.957 francs per euro.
View the Source
2. Wikidata
Wikimedia Foundation
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