XOF (Fr)

Currency: West African CFA franc

The West African CFA franc is the currency of eight independent states in West Africa. It has been in use since 1945 and is pegged to the euro. The West African CFA franc is the currency used by eight countries in West Africa: Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The currency is issued by the Central Bank of West 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.