The CFA Franc (XAF) is the official currency of Gabon and several other Central African states. It was introduced in 1945, when France created the “Franc des Colonies Françaises d’Afrique” (CFA) to replace the metropolitan franc. The term “franc” originates from medieval France, from the coin minted in 1360 with the inscription “Francorum Rex Johannes Dei Gratia,” symbolizing the liberation of King John II the Good.
1 CFA franc is divided into 100 centimes. The word “centime” comes from French and means “one hundredth.”
