The West African CFA franc (XOF) is just known in French as the Franc CFA, where CFA stands for Communauté financière d'Afrique ("Financial Community of Africa"). It is issued by the BCEAO (Banque Centrale des États de l'Afrique de l'Ouest, i.e. "Central Bank of the West African States"), located in Dakar, Sénégal, for the 8 countries of the UEMOA (Union Économique et Monétaire Ouest Africaine, i.e. "West African Economic and Monetary Union"): A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... ISO 4217 Code EUR User(s) European Union; eurozone: Austria, Belgium, Finland, France, Germany, Greece, Republic of Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia and Spain; through official agreement: Monaco, San Marino, Vatican City, Saint-Pierre et Miquelon, Mayotte; unilaterally adopted: Andorra, Montenegro, Kosovo. ... Centime is French for cent, and is used in English as the name of the fraction currency in several Francophone countries (including Switzerland and formerly France), where it is one hundredth of a franc. ... Centime is French for cent, and is used in English as the name of the fraction currency in several Francophone countries (including Switzerland and formerly France), where it is one hundredth of a franc. ... (City of Dakar, divided into 19 communes darrondissement) City proper (commune) Région Dakar Département Dakar Mayor Pape Diop (PDS) (since 2002) Area 82. ... The Republic of Senegal is a country south of the Senegal River in West Africa. ... States of UEMOA The West African Economic and Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of states of West Africa established to promote economic integration among countries that share a common currency, the CFA franc. ...

• Benin
• Burkina Faso
• Côte d'Ivoire
• Guinea-Bissau joined 1994.
• Mali withdrew 1961, rejoined 1984.
• Niger
• Sénégal
• Togo

These 8 countries have a total population of 75.5 million inhabitants (2003) and a combined GDP of 36.96 billion USD in 2003. This is about the same population and GDP as Vietnam. The Republic of Senegal is a country south of the Senegal River in West Africa. ...

Member countries

Image File history File links File links The following pages link to this file: West African Monetary Union ... Image File history File links File links The following pages link to this file: West African Monetary Union ...

Coins

Banknotes

In 2004, the 1994 series of West African banknotes were switched for a new series. These new notes have updated security features, and are more modern in design. The switch has also been welcomed because of the perception that the old bills were dirty and disease-ridden (1). Despite this, there are fears that those living in rural regions will not hear of the changeover, and as a result, will lose their savings when the older series notes are demonetarized. As well, the color of the 5,000 CFA bill was changed from blueish to green, which could leave open the possiblility of the illiterate being shortchanged when switching from the old to the new series.

Future proposals

The anglophone states of Gambia, Ghana, Nigeria, and Sierra Leone, and the francophone state of Guinea, have formed the West African Monetary Zone (WAMZ) and will introduce a common currency, the Eco, on 1 December 2009. Liberia is also set to join this monetary zone, and the ultimate goal is to unite the UEMOA and the WAMZ to form a single West African monetary zone. States of WAMZ Light green: interested in joining The Eco is the proposed name for the common currency the West African Monetary Zone plans to introduce by 2009 in the framework of ECOWAS. See Also West African Economic and Monetary Union (UEMOA) Economic and Monetary Community of Central Africa (CEMAC... States of WAMZ Light green: interested in joining The Eco is the proposed name for the common currency the West African Monetary Zone plans to introduce by 2009 in the framework of ECOWAS. Category: ... December 1 is the 335th (in leap years the 336th) day of the year in the Gregorian calendar. ... 2009 (MMIX) will be a common year starting on Thursday of the Gregorian calendar. ... Staates of UEMOA The West African Monetary Union (or UEMOA from its name in French, Union économique et monétaire ouest-africaine) is an organization of states of West Africa established to promote economic integration among countries that share a common currency, the CFA Franc. ... The West African Monetary Zone is a group of 5 countries in ECOWAS that plan to introduce a common currency, the Eco (currency) by the year 2009. ...

Mauritania, a former French colony in West Africa, uses the Mauritanian ouguiya and not the CFA franc since 1973. 2000 MRO issued in 2004 The ouguiya (Arabic: أوقية; ISO 4217: MRO) is the currency of Mauritania. ...

External links

• World coin gallery
• Ronald Wise gallery
• Banque Centrale des États de l'Afrique de l'Ouest (Central Bank of West African States)
• (French) Union Economique et Monétaire Ouest Africaine (UEMOA) (Official Site of the West African Economic and Monetary Union)
• "The Many Varieties of West African States Banknotes" by Weldon D. Burson