NGN is the currency code for the Nigerian naira, the official currency of the Nigerian Federation. The CFA franc was created on December 26, 1945, the date on which France ratified the Bretton Woods Agreements and made its first declaration of parity to the International Monetary Fund (IMF).
History of the West African CFA Franc (XOF) Along with the Central African CFA franc (XAF), the West African CFA franc (XOF) makes up the currency for most of central and west Africa… You'll find the closing price, open, high, low, change and %change of the currency pair for the selected range of dates. Several countries belonging to the West African Economic and Monetary Union (UEMOA) were French colonies using the French West African franc, including the Ivory Coast, Dahomey, French Sudan, Mauritania, Niger, Senegal, Togo and Upper Volta.
You'll find the closing price, open, high, low, change and %change of the currency pair for the selected range of dates. The currency is issued in 14 West and Central African states.
The CFA franc was created on 26th December 1945 in the wake of the Bretton Woods conference, in order to cushion the colonies from a strong devaluation of the franc. - See more at: Economic Integration and Development in Africa, Henry Kyambalesa, Mathurin C. Houngnikpo, p. 88The role of Euro in Sub Saharan Africa, Economic papers 347, November 2008, The offers that appear in this table are from partnerships from which Investopedia receives compensation. With the history chart of this currency pairs you can review market history and analyze rate trends. This page shows the historical data for CFA Franc (BCEAO)(XOF) To Canadian Dollar(CAD) From Sunday 28/06/2020 To Monday 20/07/2020. Mali, also known as French Sudan, was the only independent colony to create a national currency in 1961. Third World is an outdated and offensive phrase historically used to describe economically developing nations. At the time, the name meant "franc of the French Colonies of Africa". History. The West African CFA franc uses both coins and banknotes, with the franc … When created it was pegged to the French franc and is still pegged to the euro today. The West African CFA franc (XOF) is the shared currency of eight independent states in West Africa. History of CFA Franc The CFA franc was born in 1945, following the end of the Second World War. As those colonies gained independence, they continued to use the CFA France for their currency. In May 2020, the French National Assembly agreed to end the French engagement in the West African CFA franc. This page shows the historical data for South African Rand(ZAR) To CFA Franc (BCEAO)(XOF) From Tuesday 23/06/2020 To Wednesday 15/07/2020. Creation of the CFA franc was in 1945, following the end of the Second World War. XE’s free live currency conversion chart for Euro to CFA Franc allows you to pair exchange rate history for up to 10 years. The currency has faced continual devaluation due to inflation.
Welcome to the USD XOF history summary. The currency was introduced following the World War II and replaced the French West African franc. Export to Excel Export this data to a CSV file which can be imported by Microsoft Excel. Along with the Central African CFA franc (XAF), the West African CFA franc (XOF) makes up the currency for most of central and west Africa. The CFA franc coins and notes are issued in Mali by the Central Bank of West Africa. Since most of the countries that use the currency are poor, mostly agricultural economies, this has put a stranglehold on their trade and made them overly dependent upon continuing, privileged access to French and, though them, European markets. The dual union helped cement the value and usability of the CFA franc, first by setting its equivalent to the French franc, which later became the euro. View a graph which plots historical exchange rates for the CFA BCEAO Franc against the US Dollar Invert table The table currently shows historical exchange rates for CFA BCEAO Francs per 1 US Dollar. If you would like to view historical exchange rates between the US Dollar and another currency, please select a currency from the list below: