The CFA Franc (XOF, BCEAO- Banque Centrale des États de l'Afrique de l'Ouest) was a currency created in 1948, that was later used by a group of post-colonial, mostly Francophone, Central African nations, namely Niger, Mali, Burkina Faso, Benin, Togo, Senegal, Ivory Coast and Guinea-Bissau (the only non-Francophone nation to use the West African CFA Franc). It shares a name with the Central African CFA Franc (XAF, BEAC- Banque des États de l'Afrique Centrale), and is interchangeable with it, as both derive their names from the post-WWII CFA Franc created to avoid imposing devaluation and financial difficulty on the French colonies. Its territories of usage roughly corresponds to the territory that comprised French West Africa (Afrique Occidentale Française), (1895-1958).
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