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US dollar to CFA franc exchange rate
Find the best USD/XOF exchange rate for 05 Mar 2021.
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Refreshing in: 60s | Fri, Mar 05, 05:19PM GMT
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Historical Rate chart of USD and XOF
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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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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
| Feb 23 | Feb 24 | Feb 25 | Feb 26 | Feb 27 | Feb 28 | Mar 01 | Mar 02 | Mar 03 | Mar 04 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 539.8369 Inverse: 0.0019 | 538.9958 Inverse: 0.0019 | 539.5299 Inverse: 0.0019 | 543.3671 Inverse: 0.0018 | 543.3661 Inverse: 0.0018 | 542.5427 Inverse: 0.0018 | 544.4214 Inverse: 0.0018 | 542.7839 Inverse: 0.0018 | 544.5118 Inverse: 0.0018 | 548.0860 Inverse: 0.0018 |
US Dollar to the CFA Franc BCEAO for the last 10 months
| May 2020 | Jun 2020 | Jul 2020 | Aug 2020 | Sep 2020 | Oct 2020 | Nov 2020 | Dec 2020 | Jan 2021 | Feb 2021 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 598.4463 Inverse: 0.0017 | 583.8345 Inverse: 0.0017 | 583.3323 Inverse: 0.0017 | 555.2527 Inverse: 0.0018 | 554.1114 Inverse: 0.0018 | 556.4074 Inverse: 0.0018 | 555.1179 Inverse: 0.0018 | 541.2053 Inverse: 0.0018 | 531.6367 Inverse: 0.0019 | 544.4056 Inverse: 0.0018 |
US Dollar to the CFA Franc BCEAO for the last 10 years
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 470.4171 Inverse: 0.0021 | 495.9427 Inverse: 0.0020 | 503.3610 Inverse: 0.0020 | 477.6496 Inverse: 0.0021 | 593.1458 Inverse: 0.0017 | 602.4890 Inverse: 0.0017 | 622.2707 Inverse: 0.0016 | 532.5082 Inverse: 0.0019 | 578.6222 Inverse: 0.0017 | 586.8942 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 |
Exchange rates from USD to other currencies
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