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Would you like to know name of the currency in Benin? The money used in Benin is called CFA Franc.

The Nigerien CFA Franc is issued and managed by the Central Bank of the West African States. To find out the current currency exchange rates for CFA Franc to other major currencies of the world, click on foreign currency rates.

Nigerien Currency Information
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The currency used in Benin is called as the CFA Franc. This currency is denoted with the currency sign CFA and the ISO 4217 Code for the Nigerien CFA Franc is XOF. The CFA Franc, is the official currency of the Benin . It is divided into 100 smaller units called Centime.

The constitution of Benin provides that the Benin government shall have the power to print the Nigerien CFA Franc and Centime coins to be used as a legal tender in Benin. The Nigerien CFA Franc bank notes and Centime coins are both designated as "legal tender" in payment of debts.

The Nigerien CFA Franc bill uses the decimal system, consisting of 100 equal units.

The symbol CFA, usually written before the numerical amount, is used for the Nigerien CFA Franc.

Currently printed bank notes denominations are 1,000, 2,000, 5,000, 10,000 francs and the coins are minted in the denominations of 1, 5, 10, 25, 50, 100, 200, 250, 500 francs .

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The Effect of Balance of Trade and Investment on the Value of Nigerien CFA Franc
Financial analysts regularly cite the balance of trade and investment in Benin as the most important influence on the value of the CFA Franc. The difference between what the Benin exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from CFA Franc exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into CFA Franc exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Nigerien CFA Franc.

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