Central African CFA Franc
Franc CFA
Currency Code
XAF
ISO 950
Symbol
XAF
Native: FCFA
Decimal Digits
0
Rounding: 0
Countries
CM, CF, TD, CG, GA, GQ
Using this currency
Currency Units
Major Unit
Name: franc
Symbol: FCFA
Minor Unit
Name:
Symbol:
Value: 0
Banknotes
Frequently Used
FCFA500FCFA1000FCFA2000FCFA5000FCFA10000
Coins
Frequently Used
FCFA1FCFA2FCFA5FCFA10FCFA25FCFA50FCFA100FCFA500
Plural Forms
English Plural
Central African CFA francs
Native Plural
Francs CFA
Overview
The Central African CFA Franc is the currency of six Central African countries: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. It is pegged to the euro and managed by the Bank of Central African States.
Economy
- Central African Economic and Monetary Union (CEMAC) is a member of AU, CEMAC, ECCAS, CEEAC.
- Main industries include: Oil and gas, Mining, Forestry, Agriculture, Manufacturing.
- Central African Economic and Monetary Union (CEMAC) is part of the World Trade Organization.
- Imports are machinery, electrical equipment, transport equipment, fuel, food.
- Major exports include crude oil, timber, cotton, coffee, sugar, diamonds, iron ore.
- GDP: $115.8 billion (2023 est., combined CEMAC).
- GDP per capita: $2,095 (2023 est., CEMAC average).
- Unemployment rate: 7.1% (CEMAC average, 2020 est.).
- Inflation rate: 4.2% (2023 est., CEMAC average).
- Main trading partners: China, European Union, United States, India, Turkey.
- Trade agreements: EU Economic Partnership Agreement, African Continental Free Trade Area.
History
- Previous currencies used: French franc, Various colonial currencies.
- The CFA franc was introduced in 1945 for French colonies. The Central African version was created in 1959 when the region formed a monetary union separate from West Africa.
- 1945: CFA franc introduced in French colonies
- 1959: Central African monetary union formed
- 1960s: Independence of member countries
- 1999: Peg switched from French franc to euro
- 2019: Monetary reforms and reduced French oversight
- Exchange rate peg: EUR (1999-present) at 655.957 XAF = 1 EUR.
- Exchange rate peg: FRF (1945-1999).
- Currently pegged to EUR at 655.957 XAF = 1 EUR.
General Information
- ISO 4217 Code: XAF
- Symbols: XAF/Fr
- Currency Subunits: 100 centimes
- Central Bank: Bank of Central African States (BEAC)
- Monetary Policy: Currency board system maintaining EUR peg. Common monetary policy across six member countries with focus on regional economic integration.
- Bills: 500 XAF, 1000 XAF, 2000 XAF, 5000 XAF, 10000 XAF
- Coins: 1 franc, 2 francs, 5 francs, 10 francs, 25 francs, 50 francs, 100 francs, 500 francs
- USD Exchange Rate: Variable (approximately 600-620 XAF per USD)
- Pegged To: EUR at 655.957 XAF = 1 EUR
- Capital: Yaoundé (BEAC headquarters)
- Population: 55.3 million (2023 est., CEMAC total)
- Area: 3,020,142 km² (CEMAC total)
- Languages: French (official), Arabic (Chad), Spanish (Equatorial Guinea), Portuguese (São Tomé - observer), Various local languages
- Time Zones: UTC+1 (West Africa Time)
- Government Type: Monetary union of sovereign republics
- Head of Government: BEAC Governor, individual country presidents
- Independence: 1960s (individual countries)
- Ethnic Groups: Various African ethnic groups by country
- Religions: Christianity 80%, Islam 15%, Traditional beliefs 5%
- Literacy Rate: 65.7% (regional average)
- Transport: Regional airports, limited road networks, ports (Douala, Libreville), railway connections
- Communications: Expanding telecommunications, 23% internet penetration (regional average)
- Energy: Oil and gas 70%, Hydroelectric 25%, Other 5%
- Countries Using This Currency: Central African Economic and Monetary Union (CEMAC)
- Data Sources: Central Bank: Bank of Central African States (beac.int), Economic Data: CEMAC Commission, World Bank, IMF, Trade Data: Individual country customs services, Demographic Data: National statistical offices, Geographic Data: Regional meteorological services, Historical Data: BEAC archives
- Last Updated: 2025