The CFA franc (XOF) is the official currency of Côte d’Ivoire and other member states of the West African Economic and Monetary Union (WAEMU). It was introduced in 1945 during the French colonial administration and remained in circulation after independence, backed by the French Treasury. The name “franc” originates from medieval France, from the coin minted in 1360 bearing the inscription “Francorum Rex Johannes Dei Gratia,” which marked 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.”
