Money is weird. You look at a single US dollar bill and think you know what it’s worth, but as soon as you try to swap that $1 to CFA franc (XOF or XAF), things get complicated fast. Most people just Google a currency converter, see a number like 600 or 615, and think that's the end of the story. It isn't. Not even close.
If you’re traveling to Dakar or doing business in Douala, that "official" rate is basically a polite fiction. Real life involves bank fees, street hawks, and a bizarre fixed-exchange rate system tied to the Euro that dates back to the 1940s.
Honestly, the CFA franc isn't even one currency. It’s two. You have the West African CFA franc (XOF) and the Central African CFA franc (XAF). They have the same value, but you can't always spend one in the other's territory. It's a headache. Let's break down what's actually happening when you try to move your dollars into the franc zone.
The Math Behind $1 to CFA Franc and Why It Shifts
The CFA franc is pegged to the Euro. Specifically, it’s fixed at 655.957 CFA francs to 1 Euro. Because the US dollar floats against the Euro, your $1 to CFA franc rate is just a reflection of how the dollar is doing against the Euro on any given Tuesday.
If the Euro gets stronger, your dollar buys fewer CFA francs. If the Euro crashes? Suddenly your dollar goes a lot further in Abidjan.
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Real-world conversion numbers
Back in early 2022, you might have gotten 580 francs for your dollar. By late 2022, when the dollar hit parity with the Euro, you could suddenly get over 670 francs. That is a massive swing for a "fixed" currency. As of early 2026, the volatility continues. You’ve got to watch the EUR/USD pair more than you watch the African markets themselves.
Banks aren't your friends here. If Google says $1 is worth 610 CFA, the bank at the airport in Togo is going to offer you 570. They take a massive "spread." It’s basically a tax on being unprepared.
The Two Zones: XOF vs. XAF
This is where most people trip up.
There are two separate unions. The West African Economic and Monetary Union (UEMOA) uses the XOF. This includes countries like Senegal, Benin, and Côte d'Ivoire. Then you have the Central African Economic and Monetary Community (CEMAC), which uses the XAF—think Cameroon, Gabon, and Chad.
They are theoretically at a 1:1 ratio.
However, if you take a stack of XAF notes from Cameroon into a shop in Senegal, the merchant will probably look at you like you’re trying to pay with Monopoly money. They are managed by two different central banks: the BCEAO in Dakar and the BEAC in Yaoundé. While they share a name and a value, they are not legally interchangeable in the streets. You’ll have to go to a bank and pay a commission to swap them. It’s annoying. It’s inefficient. But it’s the reality of the region.
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The Eco: Is the CFA Franc Dying?
You’ve probably heard rumors about the "Eco."
For years, West African leaders like Alassane Ouattara and Emmanuel Macron have talked about transitioning the XOF into a new currency called the Eco. The goal is to distance West Africa from the French treasury. Currently, these countries have to keep 50% of their foreign exchange reserves in France. Critics call it "monetary colonialism."
But the Eco keeps getting delayed.
Inflation, political coups in Mali, Niger, and Burkina Faso, and the lack of economic convergence between countries like Nigeria and the smaller francophone states have stalled the project. For now, when you look up $1 to CFA franc, you’re still looking at a currency backed by the French guarantee. That gives it a stability that the Nigerian Naira or Ghanaian Cedi simply doesn't have, but it comes at the cost of independent monetary policy.
Where to Actually Exchange Your Dollars
Don't go to the bank if you can help it.
The bureaucratic red tape in a standard West African bank can turn a simple currency exchange into a two-hour ordeal involving three photocopies of your passport and a thumbprint. Okay, maybe not a thumbprint, but it feels like it.
- Licensed Bureau de Change: These are your best bet. You’ll find them in city centers. The rates are competitive, and the transaction takes two minutes.
- The "Black Market" (Parallel Market): In places like Togo or Benin, you’ll see guys on street corners with thick wads of cash. They often give a better rate than the banks because they want USD for trade. It’s risky. You might get a fake note, or you might get shortchanged. Unless you’re a local or with someone you trust, stick to the licensed booths.
- ATMs: Honestly? This is usually the smartest way to get CFA. Use a card with no foreign transaction fees (like Charles Schwab or certain Chase Sapphire cards). The ATM will give you the "mid-market" rate, which is almost always better than what you’ll get carrying cash. Just be aware that ATMs in the region often have low withdrawal limits—maybe $200 or $300 a pop.
The Cost of Living Reality
What does $1 actually buy you in the CFA zone?
In Dakar, $1 (about 600-610 CFA) might get you a large bottle of water and maybe a small snack. It’ll get you a short taxi ride (clando) if you’re good at haggling. In rural areas, that same dollar is a decent meal of riz au gras or attiéké.
Prices have been creeping up. Inflation hasn't hit the CFA zone as hard as it hit the US or UK, but "imported inflation" is real. Since most finished goods are imported from Europe or China, and those are priced in Euros or Dollars, the local cost of bread and fuel fluctuates with the exchange rate.
Avoid These Common Mistakes
People lose a lot of money on simple errors.
First, never bring old US bills. If your $20 or $100 bill has a tiny tear, or if it was printed before 2013, many exchange bureaus will flat-out refuse it. They want crisp, "big head" bills. It’s frustrating, but they struggle to get rid of older or damaged US currency, so they pass that struggle onto you.
Second, don't forget the "CFA" vs "FCFA" notation. In shops, you’ll see prices marked as "1.000 F" or "5.000 FCFA." Just remember that 1,000 CFA is roughly $1.60 to $1.70 depending on the day. A quick mental trick is to divide the price by 600. It’s not perfect, but it keeps you from overspending when you see those thousands on the price tags.
Actionable Steps for Handling Your Money
If you are planning to handle $1 to CFA franc conversions soon, do this:
- Check the EUR/USD pair: Don't just look at the CFA rate. If the Dollar is strengthening against the Euro, wait a day or two to exchange your cash if you can.
- Bring New Bills: Go to your bank in the US and request "pristine, new series" $100 bills. You will get a significantly better exchange rate for $100 bills than you will for $1, $5, or $20 bills. Small bills are often "discounted" by exchangers.
- Download an Offline Converter: Internet can be spotty. Use an app like XE or Currency Plus and make sure it has the latest rates cached before you leave the hotel.
- Notify Your Bank: If you plan to use ATMs, tell your bank you are in West/Central Africa. These regions are often flagged for fraud, and having your card eaten by an ATM in Douala because the bank "protected" you is a nightmare scenario.
- Carry Two Wallets: Keep your main cash and passport in a hidden belt or a deep pocket. Keep a "daily" wallet with about 10,000-20,000 CFA (roughly $15-$30) for quick transactions. It’s safer and makes you less of a target for overcharging.
The CFA franc is a fascinating relic of history that provides a weird level of stability in a volatile region. Navigating it just requires a bit more foresight than your average currency swap. Keep your bills crisp, watch the Euro, and always double-check which "zone" you're standing in before you try to pay the bill.