Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates
BER

West African franc Markets

XOF Currency Update - Our review of West African franc forecasts and news plus charts and historic rates. Check XOF Trends over various time periods.

 

The recent performance of the US dollar (USD) against the West Africa CFA franc (XOF) highlights a complex interplay of economic factors and market sentiments. Analysts observe that the USD has appreciated recently, driven by safe-haven demand and reduced expectations for interest rate cuts from the Federal Reserve. Increased optimism surrounding potential trade deals added support to the USD's value, although any disappointment regarding the scope of these agreements could lead to short-term headwinds.

As of now, the USD to XOF exchange rate stands at 559.5, which is notably 2.6% below its three-month average of 574.3, indicating a period of relative stability. Analysts note that the pair has fluctuated within a narrow range of 555.6 to 599.0 over the last three months. This stability may reflect the XOF's strong linkage to the euro, maintaining its status as a credible currency despite broader regional economic challenges.

The USD's fundamental strength is largely influenced by the US economy's health, notably through key indicators such as inflation, employment data, and GDP growth. The Fed's interest rate policies play a pivotal role; higher rates tend to attract more investor interest towards the USD, whereas a dovish stance can weaken its appeal.

For the XOF, its fixed exchange rate with the euro serves as a stabilizing factor. The CFA franc's credibility and stability are crucial given the volatile nature of many other currencies in the region.

Going forward, the USD's performance against the XOF will be shaped by upcoming economic data releases, Federal Reserve policy decisions, and any developments in US trade relations, particularly concerning Europe and Africa. Given its safe-haven status, the USD may also benefit from ongoing geopolitical uncertainties, which tend to drive investment into US assets.

 

US dollar to West African franc - USD/XOF Trend

 
USD to XOF at 559.5 is 2.6% below its 3-month average of 574.3, having traded in a relatively stable 7.8% range from 555.6 to 599.0
|
 
1 USD =
560.47We compare provider deals to this wholesale mid-market rate. Read more
XOF
 
-0.1%
 
Track Rate

View My Rate Tracker

   
 

Compare & Save on Exchange Rates

Exchange rates can vary significantly between banks and currency exchange providers, so it's important to compare rates from different sources before making a conversion.

The below table makes it easy to calculate and compare the Total Cost you are being charged on currency rates and the possible savings of using a foreign exchange provider rather than your bank.

 

Loading exchange rates...