Definition of 'CFA Franc XOF'

XOF is the three-letter currency code representing
the currency of the following collection of West African countries which is commonly known as the franc:
Benin
Burkina Faso
Ivory Coast
Guinea-Bissau
Mali
Niger
Senegal
Togo

The CFA franc is the name of two currencies used in Africa which are guaranteed by the French treasury.
The two CFA franc currencies are the West African CFA franc and the Central African CFA franc.
The two currencies exchange at parity and are thus effectively interchangeable.
Both CFA Francs currently have a fixed exchange rate to the euro.