The West African Franc (XOF) is the currency used by eight countries in West Africa, which are part of the West African Economic and Monetary Union. These countries include Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. The currency is pegged to the Euro, providing stability and facilitating trade among member nations. The West African Franc is issued by the Central Bank of West African States (BCEAO). It is subdivided into 100 centimes, although centimes are rarely used in practice. The currency symbol is often represented as CFA, which stands for "Communauté Financière Africaine."