Here is the complete historical financial report of Burkina Faso in International English, including all currencies that have circulated since the beginning of its monetary production, clearly highlighting the current official currency:

Comprehensive Financial Historical Report of Burkina Faso

Basic Data

• Country ISO Code: BF

• Official Language: French

• Language ISO Code: fr

• Current Official Currency: West African CFA franc (BCEAO)

• Current Currency ISO Code: XOF

Currencies That Have Circulated in Burkina Faso

1. West African CFA Franc (Communauté Financière Africaine)

• ISO Code: XOF

• Singular Name: franc

• Plural Name: francs

• Monetary Subdivision: 1 franc = 100 centimes

• Singular Fraction Name: centime

• Plural Fraction Name: centimes

• Production Start Date: 1945 (creation of the CFA franc)

• Production End Date: still in circulation

• Circulation Start Date: 1945

• Circulation End Date: still in circulation

• Minted Coin Values: 1, 5, 10, 25, 50, 100 francs

• Printed Banknote Values: 500, 1000, 2000, 5000, 10,000 francs

• Designs / Symbols:

  • Coins and banknotes feature cultural and historical symbols of West Africa, including traditional motifs, historical figures, and regional landscapes.

  • The acronym “CFA” currently stands for “Communauté Financière Africaine” within the West African Economic and Monetary Union (UEMOA).

• Mint Locations: Coins and banknotes are produced by specialized mints in Europe (e.g., France).

• Status: Official currency and actively circulating.

• Issuing Authority: Central Bank of West African States (BCEAO).

• Relevant Legislation: Governed by UEMOA agreements and BCEAO statutes.

Historical and Economic Context

• The CFA franc was established on December 26, 1945, initially as the currency of the French colonies in sub-Saharan Africa.

• It maintained a fixed parity with the French franc and, since 1999, with the euro (655.957 XOF = 1 euro).

• While regarded as a colonial legacy, the CFA franc provides relative monetary stability in the region.

• Burkina Faso, as a member of UEMOA, uses this common currency alongside seven other West African countries.

• Reforms and discussions are ongoing regarding the transition to the eco, a planned single currency for the Economic Community of West African States (ECOWAS) expected from 2027.

People and Symbols Honored on Coins and Banknotes

• Banknotes highlight cultural, historical, and symbolic figures of the West African region, without specific political personalities from Burkina Faso.

• Designs include agricultural, artisanal, architectural, and natural scenes representative of the regional heritage.

Additional Information and Curiosities

• The CFA franc is shared by 14 African countries, including Burkina Faso.

• Commemorative coins and banknotes have been issued to celebrate regional and national events.

• The BCEAO is responsible for currency production, distribution, and regulation.

This report provides a complete overview of Burkina Faso’s monetary evolution, from the creation of the CFA franc to its current use as a stable official currency within the West African Economic and Monetary Union.

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