The Markets Insider currency calculator offers a fast and easy way to calculate historical exchange rates between United States dollars en cfa and Central African CFA francs. The tool allows you to select both the current date and a specific historic rate for your conversion.
1 dollar en cfa is worth 0.001642 XOF at the moment. This is based on the forex exchange rate that is updated in near real-time.
Symbol
The dollars en cfa franc BEAC (or Communaute Financiere Africaine BEAC francs, abbreviated XAF) is the common currency of Cameroon, Central African Republic, Chad, Gabon, Equatorial Guinea, and Mauritania. It was established in 1945 and is tied to the Euro. In addition to being a major trading currency, the XAF is also important in these countries due to its stability and fixed exchange rate. It has replaced other currencies, such as the Ouguiya in Mauritania and the Mali franc, in both cases at a rate of 1 Ouguiya for 5 francs.
The Markets Insider currency calculator lets you quickly convert United States dollars en cfa to Central African CFA francs. Simply enter the amount to be converted and select a date. Our system will display the current rate as well as the historical highest and lowest rates for that day, giving you a complete overview of the exchange rate history for this pair.
Our currency converter uses forex prices that are updated in real-time. You can choose from over 160 international currencies to get up-to-the-minute rates for your conversion. The currency converter also allows you to view the history of the XOF/USD pair over the past 30 days. It shows the highs and lows of the XOF/USD rate over that period dollars en cfa, as well as the volatility.
History
In 1945, the dollars en cfa franc was created by metropolitan France in a show of generosity and selflessness, sparing her African colonies the devaluation that would have otherwise be imposed on them when the local franc was pegged to the French franc. The CFA franc has maintained its fixed relative value to the French franc since its inception (apart from nominal adaptations to the new French franc in 1960 and the Euro in 1999). Its banknotes bear an obverse unique to each member country and share a common reverse, thus making it the only West African currency with a truly pan-African design.
This page provides a live conversion rate for USD to West African CFA Francs. It also displays historic USD/XOF exchange rates for the past 7 days.
Value
The value of the CFA Franc BCEAO in USD is determined by the exchange rate. The exchange rate is the amount of the counter currency that is needed to buy one unit of the base currency. The historical exchange rates are displayed on the table above. They show the highest and lowest CFA Franc BCEAO price against USD in a 30-day period. The volatility of the CFA Franc BCEAO price in USD is also shown on the dollars en cfa.
To convert the dollars en cfa franc BEAC to USD, simply use the Paytm currency converter. You can select the source currency, destination currency and the amount of money you want to convert. Then click “Convert.” The conversion process takes less than a second and produces nearly accurate results. You can also see the history of the USD/XOF rate over the past year on the chart above. For more information about the XOF BEAC, including its types of coins and banknotes, its user countries, and its history, please refer to the corresponding Wikipedia pages.
Exchange rate
The exchange rate of dollars en cfa is determined by the foreign exchange market, where currencies are bought and sold. The rate can be volatile and is subject to change at any time. This is why it is important to monitor the exchange rate regularly. The best way to do this is by using a currency calculator, which will show you the current rate and historical rates. The currency converter will also help you track your savings against the current rate.
The XOF to USD converter is an easy-to-use tool that lets you convert United States dollars en cfa to Central African CFA francs in seconds. It shows the current conversion rate based on the date you choose, and it also displays past rates. Moreover, it gives you a list of the highest and lowest rates for the day.
Whether you’re sending money abroad or just shopping online, it’s important to keep up with the latest exchange rate. Using a currency calcualator will help you make the most of your money. The tool will not only give you a current conversion rate, but it will also provide you with historical and monthly averages.
It is a popular choice for travelers and businesspeople alike, as it allows them to easily make international transactions. The exchange rate is updated every hour, and the results are displayed in a clear table. It is recommended that you use the converter during peak hours, as these are typically the most favorable times for converting USD to XOF.
The CFA franc BEAC is used in Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon. It was created in 1945 and has been tied to the Euro since 1999. Its members were originally French colonies, but in the 1970s they decided to create a common currency. The banknotes were designed to be similar to the euro, with an obverse that is unique to each country and a common reverse.
The dollars en cfa franc is also used in Mali, Guinea-Bissau, and Niger. However, critics argue that the currency was not intended to benefit African economies, but rather to protect France’s interests in Africa. In fact, a Senegalese economist says the creation of the franc was based on outdated and reductive monetary doctrines that have failed to take into account Africa’s unique economic challenges.
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