West African CFA franc (XOF)

The West African CFA franc, designated by the ISO code XOF, is the official currency of eight independent states in West Africa, including Senegal, Ivory Coast, and Mali. Issued by the Central Bank of West African States (BCEAO), it was created in 1945 alongside its Central African counterpart. The currency maintains a fixed exchange rate pegged to the euro, guaranteed by the French Treasury, ensuring monetary stability across the West African Economic and Monetary Union.