+3 CFA Franc BEAC (XAF)

The CFA Franc BEAC is issued by the Bank of Central African States (BEAC).

Alphabetic code
XAF
Numeric code
950
Symbol
FCFA
Minor units
0
Example
FCFA 1,235
Used in
Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, Gabon

History

  1. 1945 The CFA franc is created on 26 December for France’s African colonies.
  2. 1972 The BEAC is established under cooperation agreements of 22 and 23 November and receives the exclusive right to issue currency in its member states.
  3. 1994 In January the CFA franc is devalued by half against the French franc, from 50 to 100 CFA francs per French franc.
  4. 1999 On 1 January the CFA franc is pegged to the euro at 655.957 CFA francs per euro, replacing its peg to the French franc.

Live exchange rates

Sources