The Central African CFA franc is the official currency used by six countries in Central Africa, including Cameroon, Central African Republic, Chad, Republic of the Congo, Gabon, and Equatorial Guinea. It is abbreviated as XAF and is pegged to the euro, which helps stabilize its value in international markets. The currency is managed by the Bank of Central African States (BEAC), which oversees monetary policy and issues banknotes and coins. The CFA franc has a long history, having been introduced in 1945, and it plays a crucial role in facilitating trade and economic stability within the region.