CFA franc facts for kids
The West African CFA franc is the money used in eight countries in West Africa. These countries are Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Sénégal, and Togo. The letters "CFA" stand for Communauté Financière d'Afrique, which means "Financial Community of Africa."
There is also a Central African CFA franc. It has the exact same value as the West African CFA franc. This means that one West African CFA franc is worth the same as one Central African CFA franc.
Contents
What is the CFA Franc?
The CFA franc is a special type of money. It helps these West African countries trade and work together. The name "CFA" comes from French words. It means "Financial Community of Africa." This shows how the countries share their money system.
Countries Using the West African CFA Franc
Eight countries in West Africa use this currency. They are:
- Benin
- Burkina Faso
- Guinea-Bissau
- Ivory Coast
- Mali
- Niger
- Sénégal
- Togo
Using the same money makes it easier for these countries to do business with each other.
West African vs. Central African CFA Franc
You might hear about two types of CFA francs. There is the West African CFA franc and the Central African CFA franc. Even though they are used in different regions, they have the same value. This shared value helps keep money stable in these areas.
Images for kids
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Central African CFA franc coins
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A 1 CFA franc coin.
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500 West African CFA francs.
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1000 West African CFA francs.
See also
In Spanish: Franco CFA para niños
