Pegged to the euro by a fixed parity agreement, the CFA franc has fallen against the US dollar this year.

The CFA franc has depreciated by 9.18% against the U.S. dollar since the beginning of 2022, according to data published by the xe.com platform. The greenback now trades for 628.5 CFA francs. The current evolution of the CFAF against the dollar has a series of consequences that the central banks of the WAEMU (BCEAO) and the CEMAC (BEAC) will have to follow. However, the European Central Bank (ECB) seems to be running out of options in the face of inflation. Technically, because of the fixed parity, purchases of products from the euro zone should be more competitive for African countries in the CFA zone. But invoices are mostly paid in dollars in the global supply chain. Elsewhere, so-called floating currencies such as the Egyptian pound and cedi have fallen by 19.7% and 31.18% respectively.