Money is weird. You've probably looked at your screen, seen a specific number for how much is one dollar in CFA, and thought you had it all figured out. But if you've ever actually tried to swap a physical greenback for a stack of CFA francs in Dakar or Abidjan, you know the "official" rate is basically a polite suggestion.
The reality? It's usually somewhere between 600 and 620.
But that number moves. It breathes. It reacts to things happening thousands of miles away in Brussels or Washington D.C. If the Federal Reserve decides to hike interest rates, your dollar suddenly buys more bread in Togo. If the European Central Bank shifts its stance, the CFA—which is hard-pegged to the Euro—feels the tremor immediately. It’s a strange, tethered relationship that most people outside of West and Central Africa don't really grasp.
The Math Behind the Peg
Most currencies just float around. They're like boats unanchored in a choppy sea. The CFA franc is different. It's actually two different currencies: the West African CFA (XOF) and the Central African CFA (XAF). For you, the traveler or investor, they're effectively the same value, but they aren't always interchangeable in the streets.
The crucial bit is the Euro.
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Since the CFA is pegged to the Euro at a fixed rate of 655.957 CFA to 1 Euro, the dollar-to-CFA rate is just a reflection of the EUR/USD exchange pair. When the Euro is strong, the CFA is strong. When the Euro tanked against the dollar back in 2022 and hit parity, the CFA plummeted too. Honestly, tracking how much is one dollar in CFA is really just a roundabout way of tracking how the Euro is performing against the US Treasury.
Why Your Banking App Is Probably Lying to You
You open an app. It says 1 USD = 612 CFA. You go to a bureau de change in Douala, and the guy behind the glass offers you 585. You feel robbed.
You aren't necessarily being scammed, though you should always be careful. Banks and physical exchange spots have to bake in their "spread." This is the margin they take to stay in business. In many African markets, liquidity—the actual physical amount of cash available—can be tight. If everyone wants dollars and nobody is selling them, the price of that dollar in CFA terms is going to skyrocket far beyond what Google tells you.
Also, consider the "New Bill" tax. It sounds ridiculous, but in many parts of the CFA zone, a crisp, uncirculated $100 bill from 2021 will get you a better rate than a crumpled $20 bill from 2006. The market prefers "blue" bills (the newer series). If you're carrying old head small-portrait bills, expect to lose 5% to 10% of your value instantly. It's a localized reality that no algorithmic currency converter will ever mention.
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The Geopolitics of Your Pocket Change
We have to talk about the French Treasury.
For decades, the CFA franc was criticized as a relic of "Françafrique." Countries using it were required to keep 50% of their foreign exchange reserves in the French Treasury. This provided stability. It kept inflation lower than in neighboring countries like Nigeria or Ghana. But it also meant these nations couldn't really control their own monetary policy.
Recent reforms in the West African bloc (WAEMU) are changing this. They’re moving toward a new currency called the Eco. However, as of early 2026, the progress has been slow. The peg to the Euro remains the dominant force. This is why the CFA is often called one of the most stable currencies in Africa. While the Nigerian Naira or the Sierra Leonean Leone can lose half their value in a year, the CFA usually stays within a predictable range because it's backed by the guarantee of the French Treasury to convert it to Euros at that fixed rate.
Looking at the Real-World Costs
What does "one dollar" actually get you on the ground?
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In Bamako or Cotonou, 600 CFA is a decent amount for a snack. It'll get you a couple of large baguettes. Maybe a few bags of "pure water" (sachet water) and some street food like alloco (fried plantains). But inflation has been hitting these regions too. Five years ago, 500 CFA felt like a lot more than it does today. Even though the exchange rate against the dollar might look stable on a five-year chart, the purchasing power inside the country is a different story entirely.
How to Get the Best Rate
If you are actually trying to move money, don't just walk into a random hotel lobby.
- Use Digital Remittance: Platforms like WorldRemit, Taptap Send, or Wave often give rates much closer to the mid-market rate than physical banks. They have lower overhead and want your business.
- ATM Withdrawals: Usually, the best way to get CFA is to just pull it out of an ATM using a card with no foreign transaction fees (like Charles Schwab or certain Chase cards). You'll get the Visa/Mastercard "wholesale" rate, which is almost always better than a cash exchange.
- The $100 Rule: If you must carry cash, bring $100 bills. Nothing smaller. And make sure they are pristine. No tears, no ink marks, no "soft" feel.
The Future of the Dollar-CFA Relationship
Economists like Kako Nubukpo have long argued that the CFA is overvalued. Because it's tied to the Euro—a currency used by wealthy industrial powers like Germany—it can make exports from countries like Senegal or Ivory Coast too expensive.
If the Eco ever truly replaces the CFA and breaks the hard peg to the Euro, we could see a massive devaluation. If that happens, how much is one dollar in CFA might jump from 600 to 1,000 overnight. For now, that’s just speculation. The status quo is sticky. People like stability, and the peg provides a shield against the hyperinflation seen elsewhere on the continent.
Actionable Steps for Navigating the Exchange
To make sure you aren't losing money when dealing with the US Dollar and the CFA franc, follow these specific steps:
- Check the EUR/USD Pair first. Since the CFA is tied to the Euro, if the Euro is crashing, your dollars are about to become more powerful in West Africa. Time your transfers accordingly.
- Avoid Airport Exchanges. This is universal advice, but in places like Léopold Sédar Senghor International, the spreads are predatory. Wait until you get into the city.
- Download "Wave" or "Orange Money." If you're staying for a while, these mobile money platforms are the lifeblood of the economy. You can often send money to yourself or have a local friend help you convert at rates that beat any bank.
- Monitor the BCEAO and BEAC websites. These are the two central banks for the West and Central zones. They publish official daily rates which can be used as a baseline for any business contract negotiations.
Understanding the value of your money in this region requires looking past the ticker symbol. It’s a mix of European monetary policy, local demand for "hard" currency, and the physical quality of the paper in your wallet. Keep your bills crisp and your eyes on the Euro, and you'll navigate the CFA zone just fine.