Definition

Noun: - The basic unit of money in the Central African Republic: The Central African Republic franc is the official currency of the Central African Republic. It is part of the CFA franc system used in several African countries.

Usage

• The Central African Republic franc is used for all financial transactions within the country, such as buying goods, paying for services, and accounting.
• It is abbreviated as XAF in international currency markets, which it shares with other CFA franc (BEAC) users.
• While it is the national currency, its value is pegged to the euro.

Examples

Advanced Usage

• "CFA franc (BEAC)": This is the formal name for the currency union to which the Central African Republic franc belongs. The "Franc of the Financial Cooperation in Central Africa" is issued by the Bank of the Central African States (BEAC).
  • The Central African Republic franc is a type of CFA franc (BEAC).

Variants and Related Words

• CFA franc (noun): The broader currency used in the Central African Economic and Monetary Community (CEMAC), which includes the Central African Republic franc.
• Franc (noun): The base monetary unit, historically used in France and several other countries.

Synonyms

• XAF: The ISO 4217 currency code.
• CFA franc (BEAC): The official name of the currency zone.

Notes

• The Central African Republic franc is not a freely floating currency; its value is guaranteed by the French Treasury as part of the CFA franc system.
• It is important to distinguish it from the West African CFA franc (XOF), which is used by a different group of countries.

Noun

1. the basic unit of money in the Central African Republic