Senegal confirms role in CFA franc system; currency details provided
1 report, 1 independent
Updated Sat 00:00
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What happened
Senegal confirmed its role in governing the shared CFA franc currency bloc. The West African Economic and Monetary Union uses the CFA franc, which is pegged to the euro at 655.957 CFA francs per euro. As of September 26, 2026, one US dollar bought about 575.45 CFA francs.
From riotimesonline.com
Why it matters
The CFA franc is shared by eight countries within the West African Economic and Monetary Union. The Central Bank of West African States quotes transfer rates for the franc against the dollar, which floats with the euro. This currency structure governs economic activity across the region.
From riotimesonline.com
Who's involved
- SenegalGoverns the shared CFA franc currency system.
- Central Bank of West African StatesQuotes transfer rates for the CFA franc against the dollar.
- West African Economic and Monetary UnionManages the shared CFA franc currency bloc.
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The entities involved
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Senegal
country on the coast of West Africa
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Central Bank of West African States
central bank serving the West African Economic and Monetary Union
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West African Economic and Monetary Union
inter-governmental organisation