Money is weird. You look at your screen, see 1 dollar to CFA sitting at a specific number, and you probably think there’s a giant stock market board in Dakar or Yaoundé dictating that price. It isn't that simple. Actually, it's barely a market at all in the way we think of the Euro or the Yen.
If you're holding a crisp US greenback and looking to swap it for West African (XOF) or Central African (XAF) francs, you’re stepping into one of the most controversial and mathematically rigid currency systems on the planet. Most people just want to know if they’re getting ripped off at the airport. They are. But the "why" behind the rate involves a mix of colonial history, French Treasury guarantees, and a fixed peg that hasn't budged against the Euro in decades.
Let's get the math out of the way first. You won't find a fluctuating "market rate" for the CFA against the Euro. It’s locked. Because the Euro fluctuates against the Dollar, your 1 dollar to CFA rate is basically just a reflection of how the US Dollar is performing against the Euro. When the Dollar gets stronger in New York, you get more CFA in Abidjan. Simple, right? Kinda.
The mechanics of the 655.957 peg
The CFA franc isn't one currency. It’s two. You have the West African CFA franc (XOF), used by members of the UEMOA like Senegal and Ivory Coast, and the Central African CFA franc (XAF), used by CEMAC members like Cameroon and Gabon. They are technically separate, but they share the same value: 655.957.
That number is a ghost. It’s the fixed exchange rate established when the Euro was born. Before that, it was pegged to the French Franc. What this means for you—the person holding a dollar—is that you are essentially trading USD for EUR, then multiplying by 655.957.
When you check Google and see 1 dollar to CFA hovering around 600 or 610, you’re seeing the result of global macro-economics. If the Federal Reserve raises interest rates in Washington D.C., the Dollar usually climbs. Your dollar becomes "expensive." Suddenly, that same single buck might buy you 620 CFA instead of 590. For a traveler, that's a free baguette. For an importer in Togo buying American machinery, it’s a nightmare.
Why the rate you see online is a lie
Have you ever actually tried to get the "mid-market" rate? You can't. Not really.
The rate you see on XE, Oanda, or Google is the midpoint between the "buy" and "sell" prices on the global interbank market. It’s a theoretical number for retail humans. When you walk into a Bureau de Change in Dakar, they have to make money. They'll take a "spread."
If the official rate is 605, the guy behind the glass might offer you 580.
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Then there’s the commission. Banks in the CFA zone are notorious for high fees on currency conversion. Honestly, if you’re moving large amounts of money, the difference between a 1% fee and a 3% fee is the difference between a profitable business deal and a loss.
Real world examples of the "Spread"
- Airport Kiosks: Usually the worst. They know you're tired and need a taxi. Expect to lose 5-10% of your value here.
- Local Banks: Safer, but slow. You’ll need a passport and about forty minutes of your life you'll never get back.
- Black Market / Street Changers: Often found near the Marché Central. You might get a rate closer to the official one, but you risk counterfeit notes or a "fast hand" shortchange.
- Apps and Fintech: Services like Wave or specialized transfer apps are starting to squeeze the old-school banks by offering rates much closer to the actual 1 dollar to CFA parity.
The "Eco" and the future of your money
There has been talk for years about killing the CFA franc. They want to call the new currency the "Eco."
The idea is to break the tie with the French Treasury. Right now, the CFA is "guaranteed" by France. This provides incredible stability. You don't see the 1,000% inflation in Ivory Coast that you sometimes see in other parts of the world. But that stability comes at a cost. It makes exports from these African countries more expensive and keeps their monetary policy tethered to Europe.
If the Eco ever actually launches—and it’s been "coming soon" longer than some blockbuster movies—the fixed peg might vanish. If that happens, the 1 dollar to CFA (or Eco) rate will become much more volatile. It will start to behave like the Nigerian Naira or the Ghanaian Cedi.
For now, the peg remains. It’s a safety net. Or a golden cage. Depends on which economist you ask.
How to actually get the most CFA for your dollar
Don't just carry cash. It’s 2026.
The most efficient way to handle the conversion is often through a travel-focused debit card that uses the Visa or Mastercard wholesale rate. These networks settle in Euro internally when dealing with the CFA zone, which usually results in a much better "real-world" conversion than any physical booth will give you.
However, cash is still king in many places. Outside of major supermarkets or high-end hotels in cities like Douala or Bamako, you’re going to need physical bills.
A quick cheat sheet for the math
Since the math is tied to the Euro, keep this in your head:
- If the Euro is equal to the Dollar (Parity), $1 = 655 CFA.
- If the Dollar is weak (like $1.10 per Euro), $1 = roughly 595 CFA.
- If the Dollar is super strong ($0.90 per Euro), $1 = roughly 720 CFA.
Most of the time, the rate oscillates between 580 and 620. If someone offers you 500, they are robbing you. If someone offers you 700, they are probably giving you fake money or the Dollar has reached a historic high nobody told you about.
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The psychological impact of the "Thousand"
In many CFA countries, the 1,000 franc note is the workhorse. It’s the "ten-dollar bill" of daily life.
When the 1 dollar to CFA rate is around 600, that 1,000 franc note is worth about $1.60. It buys a decent lunch at a maquis (a local eatery). When the dollar gets stronger, your purchasing power as a visitor or an expat paid in USD sky-rockets. You start feeling rich.
But for the locals, a strong dollar usually means the price of fuel goes up. Fuel is priced in dollars globally. When the dollar rises against the CFA, the cost to transport tomatoes from the farm to the city rises. Inflation follows.
Practical steps for your next transaction
If you need to convert money today, stop looking at the 24-hour charts. They won't help you at the counter.
First, check the current EUR/USD rate. That is the true engine of the CFA's value. Second, download a reliable offline converter app because data can be spotty when you're standing in a market in Cotonou.
Third, and this is the big one: Always carry pristine bills. In much of the CFA zone, banks and money changers are incredibly picky. If your $20 bill has a tiny tear, a "soft" feel, or a stray pen mark, it will be rejected. Or, they’ll offer you a "damaged bill" rate which is significantly lower. Keep your dollars in a hard folder or a flat wallet.
Finally, recognize that "1 dollar to CFA" is more than a conversion. It's a window into a complex geopolitical arrangement that has survived decolonization, the birth of the Euro, and multiple global financial crises. It’s steady, it’s predictable, and it’s arguably the most stable currency environment in Africa, even if it feels a bit like a relic of the past.
For the best results, use a mix of digital payments for big items and carry $50 and $100 bills for the best exchange rates at local offices. Smaller bills ($1, $5, $10) often get a worse rate because they are more work for the teller to process. Go big or you'll lose out on the margins.
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Keep an eye on the European Central Bank. Their decisions in Frankfurt move the needle in Dakar more than anything happening locally. That is the weird, interconnected reality of the CFA franc.