How can I get the best exchange rate between the US dollar and the Central African CFA franc?
Since the CFA franc is pegged to the euro, it’s typically recommended that travelers from the US exchange their money into euros. You’ll get best cash exchange rate using euros in any of the former French colonies that now use the Central African CFA franc. In addition, the euro to CFA franc exchange rate is constant at 655.9 francs per euro, which makes it easy to compare different currency exchange providers.
Sending money to any of the countries using the Central African CFA franc can be done using an online money transfer company. Most of these service providers offer competitive exchange rates between USD and XAF, plus fast transaction times.
US Dollar
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
CFA Franc BEAC
The CFA franc BEAC (Banque des Etats de l’Afrique Centrale) is the currency for the central African countries of Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. The CFA franc BEAC was introduced to five French colonies in 1945, replacing the French Equatorial African franc.
What affects exchange rates between the US dollar and the Central African CFA franc?
Because of the peg between the CFA franc and the euro, the exchange rate between the US dollar and the CFA franc follows the exchange rate between the US dollar and the euro.
The euro currency is managed by the European Central Bank traded freely on the global foreign exchange market. Economic growth in both the US and the EU, as well as interest rates in both countries can greatly impact exchange rates between the two currencies —and therefore the rate between the dollar and the CFA franc.
As of 2018, the countries that use the Central African CFA franc are:
Cameroon
Central African Republic
Chad
Republic of the Congo
Equatorial Guinea
Gabon
Did you know?
There’s another group of countries further west in Africa that uses another version of the CFA franc known as the West African CFA franc. These are separate currencies, although they’re of equal value.
Send money from USD to XAF
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
How does the Central African CFA franc trade against the US dollar historically?
The CFA franc is pegged to the euro at 655.9 francs per euro, a rate that’s remained the same since a devaluation in 1994.
The overall trend over the past 10 years has seen the CFA franc gradually weaken compared to the US dollar. The highest value in those 10 years was seen during the Financial Crisis in 2008 when you’d need only about 400 francs to get 1 US dollar. Later that year, the US economy started to recover and the value of the franc plunged to a rate of about 520 francs per dollar.
The value of the CFA franc remained at about the same level until late 2014, when it started to lose value compared to the US dollar. By 2015, the exchange rate had stabilized to a level of about 580 CFA francs for each US dollar.
US Dollar to the CFA Franc BEAC for the last 10 days
Nov 27
Nov 28
Nov 29
Nov 30
Dec 01
Dec 02
Dec 03
Dec 04
Dec 05
Dec 06
1 USD =
596.0455
Inverse: 0.0017
595.7018
Inverse: 0.0017
595.3291
Inverse: 0.0017
595.3422
Inverse: 0.0017
595.3256
Inverse: 0.0017
592.2020
Inverse: 0.0017
591.8854
Inverse: 0.0017
591.8854
Inverse: 0.0017
590.7407
Inverse: 0.0017
593.1566
Inverse: 0.0017
US Dollar to the CFA Franc BEAC for the last 10 months
Feb 05
Mar 08
Apr 08
May 09
Jun 09
Jul 10
Aug 10
Sep 10
Oct 11
Nov 11
1 USD =
574.9629
Inverse: 0.0017
583.8706
Inverse: 0.0017
582.7690
Inverse: 0.0017
584.7257
Inverse: 0.0017
579.5071
Inverse: 0.0017
582.6379
Inverse: 0.0017
581.4964
Inverse: 0.0017
593.6397
Inverse: 0.0017
594.2183
Inverse: 0.0017
594.4439
Inverse: 0.0017
US Dollar to the CFA Franc BEAC for the last 10 years
Dec 2009
Dec 2010
Dec 2011
Dec 2012
Dec 2013
Dec 2014
Dec 2015
Dec 2016
Dec 2017
Dec 2018
1 USD =
470.7156
Inverse: 0.0021
500.0218
Inverse: 0.0020
489.5370
Inverse: 0.0020
501.9642
Inverse: 0.0020
481.3550
Inverse: 0.0021
532.3549
Inverse: 0.0019
603.7407
Inverse: 0.0017
618.2039
Inverse: 0.0016
552.7153
Inverse: 0.0018
578.3099
Inverse: 0.0017
Market rate for common transfer amounts USD to XAF
Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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