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CFAF stands for "Communauté Financière Africaine Franc." It is the currency abbreviation for the West African CFA franc, the official currency used in eight West African countries that are part of the West African Economic and Monetary Union (WAEMU). These countries include Benin, Burkina Faso, Ivory Coast (Côte d'Ivoire), Guinea-Bissau, Mali, Niger, Senegal, and Togo. The CFA franc is also used in six Central African countries that are part of the Central African Economic and Monetary Community (CEMAC), although it has a separate abbreviation (XAF) in those countries. The CFA franc is pegged to the euro through a fixed exchange rate arrangement, guaranteed by the French Treasury, which provides a degree of stability to the currency. Originally introduced by the French colonial authorities in the 19th century, the CFA franc has evolved into a common currency for trade and commerce within the WAEMU and CEMAC regions, facilitating economic integration and cross-border transactions. However, the use of the CFA franc has also been a subject of debate and criticism, with some critics arguing that it constrains economic sovereignty and hinders development efforts in member countries. Despite these challenges, the CFA franc remains an integral part of the monetary systems in West and Central Africa, playing a key role in facilitating economic activity and financial transactions across the region.