Time Period: 1910-1941
Timeline
- 17.10.1917
- Ordinance on the issuance of emergency paper money of 2, 1, ½ Franc by the colonial government; effective immediately
- 28.08.1924
- Ordinance on the issuance of emergency paper money of 25 Francs (overprinted from the Bank of French West Africa) by the Chambers of Commerce to replace the 1917 notes; effective immediately
Time Period: 1941-1945
Currency: French Equatorial African Franc
- Transition
- 1 : 1 French West African Franc
- Sub-units
- Franc / 100 Cents
- ISO4217
- none (informal: XAE)
Timeline
- 09.10.1940
- Decree-law [No. 9] on the issuance of paper money by the Governor General of French Equatorial Africa; effective immediately:
- Notes of 1000, 100, 25, 5 Francs for "Free French Africa" were issued in 1941.
- 02.12.1941
- Ordinance [No. 20] on the establishment of the "Central Bank of Free France" with jurisdiction over all territories under authority of the French government-in-exile; effective immediately
- 24.07.1942
- Ordinance [No. 20] on the temporary suspension of the issuing privilege; effective 01.08.1942
- 01.08.1942
- Start of currency exchange:
- 01.08.1942: Start of issuance of the new banknotes by the Central Bank and exchange on par
- 30.09.1942: Demonetization of the banknotes of the Bank of French West Africa.
- 30.06.1942
- Decree [No. 338] on the issuance of subsidiary coins of 1 Franc, 50 Cents for French Equatorial Africa; effective immediately
- 13.10.1943
- Decree on the (second) issuance of subsidiary coins of 1 Franc, 50 Cents for French Equatorial Africa; effective immediately.
- The Pretoria mint also produced (unauthorized) subsidiary coins of 25, 10, 5 Cents for French Equatorial Africa; they were not issued.
- 02.02.1944
- Ordinance [unnumbered] on the reconstitution of the "Central Bank of Free France" as "Central Bank of French Overseas"; effective immediately
Valuation Regimes
- 1941-1945
- Fixed rate against British Pound (the African colonies decoupled from the monetary system of occupied mainland France)
Rate Arrangements
- 19.03.1941
- Fixed
- British Pound at 1 : 176.25
- ±0.0%
- 08.02.1944
- Fixed
- British Pound at 1 : 200
- -11.9%
Time Period: 1945-
Currency: Central African CFA Franc
- Transition
- 1 : 1
- Sub-units
- Franc / 100 Cents
- ISO4217
- XOF
Timeline
- 25.12.1945
- Ordinance [No. 45-0135] on the creation of two currencies for the French colonies in Africa and the Pacific; effective immediately
- 25.12.1945
- Ordinance [No. 45-0136] on the rating of the two colonial currencies against the French Franc; effective immediately
- 30.12.1948
- Ordinance [No. 48-2000] on the issuance of subsidiary coins for French Equatorial Africa; effective immediately
- 30.12.1948: Ordinance [No. 48-2003] on the issuance of subsidiary coins for Cameroon; effective immediately.
- 20.01.1955
- Ordinance [No. 55-104] on the establishment of the "Currency Institute of French Equatorial Africa and Cameroon" as successor to the Bank of French West Africa; effective 01.01.1957 by ordinance [No. 55-940] of 15.07.1955
- 04.04.1959
- Ordinance [No. 59-492] on the transformation of the Currency Institute into the "Central Bank of the Equatorial African States"; effective upon constitution of the bank on 08.10.1959.
- 29.06.1959
- Treaty between the states of Central African Republic, Chad, Congo, Gabon on the establishment of the Equatorial Customs Union (UDE); effective 01.01.1960 (?).
- 23.06.1961: Treaty between Cameroon and the UDE on the adherence to the customs union; effective ??.??.1961
- 08.12.1964
- Treaty between the states of Cameroon, Central African Republic, Chad, Congo, Gabon on the establishment of the "Central African Customs and Economic Union" (UDEAC); effective 01.01.1966
- 23.11.1972
- Treaty between the states of Cameroon, Central African Republic, Chad, Congo, Gabon and France on the establishment of the "Bank of the Central African States"; effective upon constitution of the bank on 02.04.1973.
- On 01.01.1977, the bank's main office relocated from Paris to Yaoundé.
- 27.08.1984
- Treaty of Accession of Equatorial Guinea to the Central African Monetary Union; effective 01.01.1985
- 16.03.1994
- Treaty between the states of Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon on the establishment of the "Central African Economic and Monetary Community" (CEMAC); effective 01.07.1994
- 23.11.1998
- Resolution [CELEX 31998D0683] of the European Council on the fixed exchange rate between the European Euro and the Central African CFA Franc, West African CFA Franc and Comorian Franc as guaranteed by the Bank of France; effective 01.01.1999
Valuation Regimes
- 1945-1949
- Fixed rate against French Franc (1795), temporarily re-pegged to the British Pound to delay the French devaluation of 1948 by one year
- 1945-1949
- Fixed rate against British Pound, did not follow the devaluations of the French Franc
- 1949-1958
- Fixed rate against French Franc (1795)
- 1958-1998
- Fixed rate against French Franc (1958)
- 1999-
- Fixed rate against European Euro
Rate Arrangements
- 26.12.1945
- Fixed
- French Franc (1795) at 1.70 : 1 - British Pound at 1 : 282.35
- -29.2%
- 26.01.1948
- Fixed
- French Franc (1795) at 1.70 : 1 - British Pound at 1 : 508.24
- ±0.0%
- 18.10.1948
- Fixed
- British Pound at 1 : 508.24 - French Franc (1795) at 2 : 1
- ±0.0%
- 20.09.1949
- Fixed
- French Franc (1795) at 2 : 1
- -27.9%
- 27.12.1958
- Fixed
- French Franc (1958) at 1 : 50
- ±0.0%
- 12.01.1994
- Fixed
- French Franc (1958) at 1 : 100
- -50.0%
- 01.01.1999
- Fixed
- European Euro at 1 : 655.957
- ±0.0%
End-year Forex Rates (Units per US Dollar)
- Year
- Code
- Ratio
- Rate
- Delta
- Comment
- 1946
- XAF
- 1
- 70.06
- ±0.0%
- fixed against FRE
- 1947
- XAF
- 1
- 70.06
- ±0.0%
- fixed against FRE
- 1948
- XAF
- 1
- 126.11
- -44.4%
- fixed against GBP
- 1949
- XAF
- 1
- 175.00
- -27.9%
- fixed against FRE
- 1950
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1951
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1952
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1953
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1954
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1955
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1956
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1957
- XAF
- 1
- 175.00
- ±0.0%
- fixed against FRE
- 1958
- XAF
- 1
- 246.85
- -29.1%
- fixed against FRF
- 1959
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1960
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1961
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1962
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1963
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1964
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1965
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1966
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1967
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1968
- XAF
- 1
- 246.85
- ±0.0%
- fixed against FRF
- 1969
- XAF
- 1
- 277.71
- -11.1%
- fixed against FRF
- 1970
- XAF
- 1
- 277.71
- ±0.0%
- fixed against FRF
- 1971
- XAF
- 1
- 260.78
- +6.5%
- fixed against FRF
- 1972
- XAF
- 1
- 255.63
- +2.0%
- fixed against FRF
- 1973
- XAF
- 1
- 234.33
- +9.1%
- fixed against FRF
- 1974
- XAF
- 1
- 221.08
- +6.0%
- fixed against FRF
- 1975
- XAF
- 1
- 223.09
- -0.9%
- fixed against FRF
- 1976
- XAF
- 1
- 248.34
- -10.2%
- fixed against FRF
- 1977
- XAF
- 1
- 235.00
- +5.7%
- fixed against FRF
- 1978
- XAF
- 1
- 208.90
- +12.5%
- fixed against FRF
- 1979
- XAF
- 1
- 200.94
- +4.0%
- fixed against FRF
- 1980
- XAF
- 1
- 227.20
- -11.6%
- fixed against FRF
- 1981
- XAF
- 1
- 286.16
- -20.6%
- fixed against FRF
- 1982
- XAF
- 1
- 335.38
- -14.7%
- fixed against FRF
- 1983
- XAF
- 1
- 417.42
- -19.7%
- fixed against FRF
- 1984
- XAF
- 1
- 481.42
- -13.3%
- fixed against FRF
- 1985
- XAF
- 1
- 376.97
- +27.7%
- fixed against FRF
- 1986
- XAF
- 1
- 321.23
- +17.4%
- fixed against FRF
- 1987
- XAF
- 1
- 268.47
- +19.7%
- fixed against FRF
- 1988
- XAF
- 1
- 302.45
- -11.2%
- fixed against FRF
- 1989
- XAF
- 1
- 289.67
- +4.4%
- fixed against FRF
- 1990
- XAF
- 1
- 254.80
- +13.7%
- fixed against FRF
- 1991
- XAF
- 1
- 259.51
- -1.8%
- fixed against FRF
- 1992
- XAF
- 1
- 275.30
- -5.7%
- fixed against FRF
- 1993
- XAF
- 1
- 293.51
- -6.2%
- fixed against FRF
- 1994
- XAF
- 1
- 537.66
- -45.4%
- fixed against FRF
- 1995
- XAF
- 1
- 490.00
- +9.7%
- fixed against FRF
- 1996
- XAF
- 1
- 525.39
- -6.7%
- fixed against FRF
- 1997
- XAF
- 1
- 599.51
- -12.4%
- fixed against FRF
- 1998
- XAF
- 1
- 559.99
- +7.1%
- fixed against FRF
- 1999
- XAF
- 1
- 652.95
- -14.2%
- fixed against EUR
- 2000
- XAF
- 1
- 704.95
- -7.4%
- fixed against EUR
- 2001
- XAF
- 1
- 744.31
- -5.3%
- fixed against EUR
- 2002
- XAF
- 1
- 625.50
- +19.0%
- fixed against EUR
- 2003
- XAF
- 1
- 519.36
- +20.4%
- fixed against EUR
- 2004
- XAF
- 1
- 481.58
- +7.8%
- fixed against EUR
- 2005
- XAF
- 1
- 556.04
- -13.4%
- fixed against EUR
- 2006
- XAF
- 1
- 498.07
- +11.6%
- fixed against EUR
- 2007
- XAF
- 1
- 445.59
- +11.8%
- fixed against EUR
- 2008
- XAF
- 1
- 471.34
- -5.5%
- fixed against EUR
- 2009
- XAF
- 1
- 455.34
- +3.5%
- fixed against EUR
- 2010
- XAF
- 1
- 490.91
- -7.2%
- fixed against EUR
- 2011
- XAF
- 1
- 506.96
- -3.2%
- fixed against EUR
- 2012
- XAF
- 1
- 497.16
- +2.0%
- fixed against EUR
- 2013
- XAF
- 1
- 475.64
- +4.5%
- fixed against EUR
- 2014
- XAF
- 1
- 540.28
- -12.0%
- fixed against EUR
- 2015
- XAF
- 1
- 602.51
- -10.3%
- fixed against EUR
- 2016
- XAF
- 1
- 622.29
- -3.2%
- fixed against EUR
- 2017
- XAF
- 1
- 546.95
- +13.8%
- fixed against EUR
- 2018
- XAF
- 1
- 572.89
- -4.5%
- fixed against EUR
- 2019
- XAF
- 1
- 583.90
- -1.9%
- fixed against EUR
- 2020
- XAF
- 1
- 534.56
- +9.2%
- fixed against EUR
- 2021
- XAF
- 1
- 579.16
- -7.7%
- fixed against EUR
- 2022
- XAF
- 1
- 615.00
- -5.8%
- fixed against EUR
- 2023
- XAF
- 1
- 593.63
- +3.6%
- fixed against EUR
- Central African Monetary Union
- -