Mali's Currency: The West African CFA Franc

Mali uses the West African CFA franc (XOF), issued by the Central Bank of West African States (BCEAO). It is shared by eight member countries of the West African Economic and Monetary Union (WAEMU):

• Benin
• Burkina Faso
• Côte d'Ivoire
• Guinea-Bissau
• Mali
• Niger
• Senegal
• Togo

The CFA franc is pegged to the euro at a fixed rate of 1 EUR = 655.957 XOF. This peg provides exchange-rate stability but requires member states to maintain foreign-exchange reserves with the French Treasury.

Banknotes range from 500 to 10,000 francs; coins from 1 to 500 francs.