The CFA franc is a currency used by 14 West African and Central African countries, including Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Republic of Congo, Equatorial Guinea, and Gabon. The CFA franc is pegged to the euro and is used interchangeably with the West African CFA franc at a fixed exchange rate of 1 euro = 655.957 CFA francs.
The exchange rate of 1 dollar to CFA franc varies depending on the current exchange rate between the US dollar and the euro, which is the currency to which the CFA franc is pegged. As of August 2021, the exchange rate of one US dollar to CFA franc was around 555 CFA francs. However, exchange rates can fluctuate daily depending on various factors such as the political and economic stability of the countries involved, changes in monetary policy, and global market conditions.
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