US Dollar to CFA Franc BCEAO Exchange Rate

Live Rate

= £ 576.8506

Refreshing in: 60s | Tue, Jul 14, 11:21AM GMT

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Historical Rate chart of USD and XOF

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Updated: 14 Jul 2020 11:21:40 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

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 571.082 XOF 2,855,410 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 571.082 XOF 2,855,410 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
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USD 0 1 - 2 days USD 1.99 565.314 XOF 2,825,443 Special offers like free transfers and better exchange rates available for new customers.
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USD 1 Within an hour USD 3.99 574.428 XOF 2,869,847 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

Jul 04 Jul 05 Jul 06 Jul 07 Jul 08 Jul 09 Jul 10 Jul 11 Jul 12 Jul 13
1 USD = 583.3323 Inverse: 0.0017 583.2001 Inverse: 0.0017 579.7490 Inverse: 0.0017 581.7878 Inverse: 0.0017 578.5541 Inverse: 0.0017 581.1024 Inverse: 0.0017 580.4621 Inverse: 0.0017 580.4929 Inverse: 0.0017 580.0451 Inverse: 0.0017 578.1925 Inverse: 0.0017

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

Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020
1 USD = 589.3774 Inverse: 0.0017 594.9193 Inverse: 0.0017 595.7401 Inverse: 0.0017 589.8629 Inverse: 0.0017 590.0785 Inverse: 0.0017 600.7758 Inverse: 0.0017 586.5851 Inverse: 0.0017 599.8418 Inverse: 0.0017 606.8336 Inverse: 0.0016 577.0703 Inverse: 0.0017

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

Jul 2010 Jul 2011 Jul 2012 Jul 2013 Jul 2014 Jul 2015 Jul 2016 Jul 2017 Jul 2018 Jul 2019
1 USD = 516.5739 Inverse: 0.0019 463.9775 Inverse: 0.0022 536.4400 Inverse: 0.0019 502.1663 Inverse: 0.0020 481.7880 Inverse: 0.0021 594.9685 Inverse: 0.0017 594.0810 Inverse: 0.0017 576.2484 Inverse: 0.0017 560.7350 Inverse: 0.0018 581.4449 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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