Countries that use the XAF
Currency Exchange Rates for Central African Franc? Convert GBP to XAF at todays exchange rate. See money transfer for Africa and historical to restrictions.
The Central African Franc is the currency for six countries found within central Africa. These are Chad, Cameroon, Equatorial Guinea, The Republic of Congo, Gabon and the Central African Republic.
The initials CFA stand for Communatue Financiere dâ€™Afrique. This means the African Financial Community that is the six countries
Are there any nicknames for the Central African Franc?There are no popular nicknames for the currency. The locals simply just refer to it as a Franc.
The Central BankThe currency is issued by The Bank of Central African States. The bank is situated in Yaounde, Cameroon
What is the XAFs Inflation Rate?
end of 2016 was 38.04%
The Currency is used extensively in the six member countries as well as in several other Central African countries. However, outside this
region it is rarely accepted as a mode of payment
Converting from GBP pounds to XAFLike all currencies the XAF fluctuates. The average conversion rate is 1GBP =733.17 XAF.
What does GBP to XAF mean?
This simply means the conversion rate of British pounds to the Central African Franc. That is how many Central African Francs you will get for every British pound.
The Central African Franc uses the universal symbol for franc: Fr.
The CA Franc is pegged on the French Franc and hence was for a long time highly overvalued. In 1994 it was for the first time greatly
undervalued in an attempt to ease trade with foreign countries. Its stability is still in question with talks of possible further undervaluation.
What are the main currencies in use and why?The Central African Franc remains the most popular currency in the region. This is because it provides a common medium of trade across the six member countries. Some of the major stores will accept Euros and USD but for ease of transaction it is best to work with XAF
Currency Information on Central African CFA Franc - XAF — Central African Franc – FCFA
Covering six independent states, the Central African Franc is the currency of Chad, Central African Republic, Cameroon, the Republic of the Congo, Gabon and Equatorial Guinea.
This currency covers both Central and West Africa and is known by the ISO code XAF in Central Africa and XOF in West Africa.
Coins in circulation are available in the denominations 1, 2, 5, 10, 25, 50, 100 and 500 francs, whilst banknotes are available in 500, 1,000, 2,000, 5,000 and 10,000 francs.
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Comment written by Tom Francis Entrepreneur London.
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