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XOF Market Update
12 Aug 2026 • 00:44 GMT
The XOF remains quite steady against the US dollar, trading around 0.001760, just above its three-month average. The currency has moved within a narrow range, staying roughly between 0.001732 and 0.001786, reflecting a stable market.
Recent developments in West Africa highlight ongoing efforts for economic independence, with some countries exploring alternatives to the CFA franc, though no significant changes have been made yet. Meanwhile, rumors of a devaluation have been firmly denied, helping to maintain confidence in the currency.
against the euro and the Canadian dollar, the XOF also remains stable near its three-month averages. However, it's slightly weaker versus the British pound, trading at recent lows near 0.001303, and stronger against the Japanese yen, near 0.2803. Additionally, the currency hit a 90-day high against the Swiss franc at around 0.001427.
Overall, the XOF is holding steady, supported by regional political developments and resilient market sentiment. Traders should keep an eye on broader USD trends, especially given recent strength driven by global economic conditions, as well as ongoing political and economic developments in West Africa that could influence the currency’s direction.
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