XAF (FCFA)

Currency: Central African CFA franc

The Central African CFA franc is the currency of six independent states in Central Africa. It has been in use since 1945 and is pegged to the euro. The Central African CFA franc is the currency used by six countries in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. The currency is issued by the Bank of Central African States and is pegged to the euro. The CFA franc is subdivided into 100 centimes. The currency has been subject to controversy due to its peg to the euro and its ties to former colonial powers. Despite this, it remains an important currency in the region.