The Burkina Faso Franc is the official currency of Burkina Faso, a landlocked country in West Africa. It is represented by the currency code XOF and is issued and regulated by the Central Bank of West African States (BCEAO).
The Burkina Faso Franc is part of the West African CFA franc, a common currency used by eight countries in West Africa, including Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo. It holds the same value as the other currencies in the CFA franc zone, with a fixed exchange rate to the Euro.
The currency is available in banknotes denominations of 10,000, 5,000, 2,000, 1,000, and 500 francs, as well as coins in denominations of 500, 100, 50, 25, 10, and 5 francs. The Central Bank ensures the stability and integrity of the currency by managing its circulation and implementing policies to maintain its value.
The Burkina Faso Franc is primarily used for daily transactions within the country, including buying goods and services, paying bills, and conducting business. It plays a crucial role in the economy, facilitating trade and driving economic activity. The currency reflects the economic stability and growth of Burkina Faso and is an essential tool to measure and manage the country's economic well-being.
