What is dollar en fcfa?

The dollar (USD) and Central African CFA franc (XAF) are both currencies used in international trade. The dollar is the official currency of the United States and is widely accepted as a reserve currency around the world. The Central African CFA franc is used in six countries in central Africa, which are Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon.

As of August 2021, the exchange rate between the US dollar and the Central African CFA franc is roughly 1 USD to 555 XAF. This means that one US dollar can be exchanged for 555 Central African CFA francs. However, exchange rates fluctuate daily based on a variety of economic factors and can vary depending on the specific currency exchange being used.

It is important to note that the Central African CFA franc is pegged to the euro at a fixed exchange rate, meaning it is not free-floating. This can impact the currency's stability and purchasing power over time. Additionally, some economists have criticized the use of the CFA franc as a colonial holdover that limits the ability of countries to control their own monetary policies.