US Dollar to CFA Franc BCEAO Exchange Rate

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= £ 553.4241

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Historical Rate chart of USD and XOF

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Updated: 25 Oct 2020 20:17:39 UTC

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How can I get the best exchange rate between the US dollar and the West African CFA franc?

Just like the Central African CFA franc, the West African CFA franc is pegged to the euro at a fixed rate, making exchanges between the euro and the West African CFA franc easy and predictable. But, making an exchange with US dollars is slightly more complicated as rates fluctuate following the exchange rate between the dollar and euro. Because of this, some travelers recommend exchanging dollars into euros first and then exchanging euros for CFA francs when you reach your destination.

When it comes to money transfers to any of the countries that use the West African CFA franc, online money transfer services are your best option. When sending money, be aware of exchange rates, service fees and transaction times.

Did you know?

The West African CFA franc is sometimes also called the CFA franc BCEAO. CFA is a French acronym for the Financial Community of Africa, and BCEAO refers to the Central Bank of West African States, which is the issuer of the currency.

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 BCEAO

The CFA franc BCEAO is used by the eight independent states in West Africa: Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. It replaced the French franc in 1945.

What affects exchange rates between the US dollar and the West African CFA franc?

The exchange rate of the West African CFA franc follows the euro, so we need to understand what drives the exchange rate between the dollar and the euro. These two currencies are the two most traded currencies in the world today, with billions of dollars’ worth of currency changing hands every day.

Interest rates and economic growth in the EU have a big impact on the value of the euro against the dollar. Political problems within the EU can negatively affect the exchange rate — events like the UK leaving the EU, also known as Brexit — causing the euro to drop in value compared to the US dollar. With the CFA franc being pegged to the euro, similar events to Brexit can have an impact on the exchange rate between the CFA franc and the dollar.

The countries currently using the West African CFA franc are:

  • Ivory Coast (Côte d’Ivoire)
  • Senegal
  • Burkina Faso
  • Mali
  • Niger
  • Togo
  • Benin
  • Bissao Guinea

Send money from USD to XOF

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$1 Same day USD 0.00 550.934 XOF 2,754,669 XE offers fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$0 1 - 2 days USD 1.99 542.356 XOF 2,710,699 Special offers like free transfers and better exchange rates available for new customers.
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$1 Within an hour USD 3.99 551.1 XOF 2,753,300 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

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How to send money to Benin

How does the West African CFA franc trade against the US dollar historically?

Since the West African CFA franc is pegged to the euro at a rate of 655.9 francs per euro, fluctuations in the exchange rate between the CFA franc and US dollar are the same as the euro and the US dollar.

Overall, the CFA franc has been weakening compared to the US dollar over the past decade. The currency had its strongest moment compared to the US dollar in 2008, when the dollar weakened as a result of the financial crisis — you’d only need about 400 francs to buy 1 US dollar. However, the number rose to about 520 francs per dollar by the end of the year.

Since 2014, there hasn’t been any major movements in the exchange rate between UDS and XOF.

US Dollar to the CFA Franc BCEAO for the last 10 days

Oct 15 Oct 16 Oct 17 Oct 18 Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
1 USD = 560.2879 Inverse: 0.0018 559.8593 Inverse: 0.0018 559.9293 Inverse: 0.0018 559.8404 Inverse: 0.0018 557.3861 Inverse: 0.0018 554.5329 Inverse: 0.0018 553.4802 Inverse: 0.0018 555.2045 Inverse: 0.0018 552.9669 Inverse: 0.0018 552.9669 Inverse: 0.0018

US Dollar to the CFA Franc BCEAO for the last 10 months

Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020 Jul 2020 Aug 2020 Sep 2020
1 USD = 590.8857 Inverse: 0.0017 594.9508 Inverse: 0.0017 604.6077 Inverse: 0.0017 602.4061 Inverse: 0.0017 605.9650 Inverse: 0.0017 601.3513 Inverse: 0.0017 579.8438 Inverse: 0.0017 565.6996 Inverse: 0.0018 556.1315 Inverse: 0.0018 557.6443 Inverse: 0.0018

US Dollar to the CFA Franc BCEAO for the last 10 years

Oct 2010 Oct 2011 Oct 2012 Oct 2013 Oct 2014 Oct 2015 Oct 2016 Oct 2017 Oct 2018 Oct 2019
1 USD = 471.0272 Inverse: 0.0021 471.7233 Inverse: 0.0021 506.4453 Inverse: 0.0020 475.3212 Inverse: 0.0021 517.5671 Inverse: 0.0019 595.2359 Inverse: 0.0017 604.6298 Inverse: 0.0017 557.7832 Inverse: 0.0018 575.4567 Inverse: 0.0017 590.7419 Inverse: 0.0017

Market rate for common transfer amounts USD to XOF

US Dollars (USD) CFA Franc BCEAO (XOF)
$1 0
$100 0
$500 0
$1000 0
$1500 0
$2500 0
$5000 0

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