Linked to the Euro by a fixed parity, the CFA franc has been declining in recent months.

The CFA franc is down 10%. The currency traded on July 6 at 640.1 CFA francs per U.S. dollar, its lowest level in two decades. This scenario was unforeseen by the central banks of the two regions (WAEMU and CEMAC) on the eve of the announcement of the 2023 budgets. It is impossible to estimate how long this situation, which is already leaving its mark in Africa, will last. In local currency terms, the turnover of companies should increase. The evolution of the CFAF also has an impact on trade between countries that use it and their English-speaking neighbors (Ghana and Nigeria), whose currencies have been volatile over the past five years, according to the Ecofin agency.