100 Canadian Dollars to CFA: An Exchange Rate Guide
Are you planning a trip to West or Central Africa and wondering how much your 100 Canadian dollars are worth in CFA (Communauté Financière Africaine) francs? Or are you looking to invest in the African market and need to know the current exchange rate? You're in the right place! In this article, we'll provide you with the latest exchange rate information and a brief overview of the CFA franc.
What is the CFA Franc?
The CFA franc is the common currency used by 12 countries in West and Central Africa. It was introduced in 1945 and is divided into 100 centimes. The countries that use the CFA franc are:
- Benin
- Burkina Faso
- Cameroon
- Central African Republic
- Chad
- Congo
- Côte d'Ivoire
- Equatorial Guinea
- Gabon
- Guinea-Bissau
- Mali
- Niger
- Senegal
- Togo
Exchange Rate: 100 Canadian Dollars to CFA Francs
As of the current date, the exchange rate is approximately:
- 1 CAD = 430 CFA francs
So, if you have 100 Canadian dollars, you can expect to get around:
- 43,000 CFA francs
Please note that exchange rates can fluctuate frequently, so it's essential to check the current rate before making any transactions.
Why is the CFA Franc Pegged to the Euro?
The CFA franc is pegged to the euro at a fixed rate of 1 euro = 655.957 CFA francs. This means that the value of the CFA franc is directly tied to the value of the euro. The reason for this peg is to maintain economic stability and facilitate international trade in the region.
Conclusion
In conclusion, 100 Canadian dollars are equivalent to approximately 43,000 CFA francs, depending on the current exchange rate. Understanding the CFA franc and its exchange rate is essential for anyone looking to do business or travel in West or Central Africa. Remember to check the current exchange rate before making any transactions to get the best deal.
