CFA franc


Also found in: Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.
Related to CFA franc: XOF

CFA franc


n.
a monetary unit used in West Africa.
[abbr. of Communauté financière africaine African Financial Community]
Mentioned in ?
References in periodicals archive ?
This reflects the average value of the CFA franc in 2015.
Apparently, the money is held "in trust" by the French government to guarantee the CFA franc the currency that is used in these former French colonies.
According to a study by S&P Global Ratings published today, the two monetary unions in Africa using the CFA franc are facing stiff scrutiny of the long-term sustainability of their currencies, which are pegged to the euro.
Nonetheless, the CFA franc is a source of fantasies nowadays.
9bn CFA franc ($143mn) territorial development programme announced in 2014 for the three regions in the north of the country; a three-year national emergency plan unveiled in 2015 with a budget of 925bn CFA francs of which just 42bn francs was earmarked for the Far North Region; a 5.
Africa has seen success in issuing Sukuk in Sub Saharan Africa, and West Africa in particular in the West African CFA franc (XOF), which minimises exposure to FX risk for domestic issuers and investors.
It will have the same value as the CFA franc and can be stored in all mobile money and e-money wallets.
The central bank of the eight-nation West African CFA franc zone, has kept its interest rate steady, according to Reuters.
This competitive aspect of currency values is perfectly illustrated by the undervaluation of the Chinese Renminbi ("RMB"), the overvaluation of the African CFA Franc in the 1990's, and the use of their respective monetary sovereignty in that matter.
He has worked on more than 80 developed, emerging markets and low-income countries in all geographical areas, and has published several research papers on issues related to adjustment in growth in sub-Saharan Africa, and the CFA Franc and the Euro.
A special court in Senegal sentenced the son of former president Abdoulaye Wade on Monday to six years in prison for corruption and ordered him to pay a 138 billion CFA franc ($228 million) fine, dashing his hopes of competing in elections due in 2017.
The West African Economic and Monetary Union (WAEMU), the common market for the eight countries using the CFA franc currency, will organize a commemorative ceremony marking its 20 years of existence.