Togo uses the West African CRA Franc along with Benin¸ Burkina Faso¸ Côte d'Ivoire¸ Guinea-Bissau¸ Mali¸ Niger¸ and Sénégal as the currency. These states are the eight independent states in West Africa.
CFA stands for Communauté financière d'Afrique meaning Financial Community of Africa. The West African CFA Franc is basically equal in value to the Central African CFA Franc as both of them are CFA Franc.
The bank responsible for issuing of the currency in these West African territories is BCEAO (Banque Centrale des États de l'Afrique de l'Ouest¸ Central Bank of the West African States).
In Togo¸ 1 West African CFA franc can be subdivided to 100 centimes. However¸ no centimes denominations are circulated.
The ISO 4217 code for West African CFA Franc is XOF.
Currency Exchange Rate to other World Famous Currencies like US¸ UK etc
As of March 1st¸ 2011¸ the currency exchange rates of West African CFA Franc to the currencies of US and UK are:
1.00 USD = 474.446 XOF
1.00 GBP = 773.667 XOF
However¸ the values are floating¸ and the exchange rates always tend to change according to the money market trends.
Official website details of West African CFA Franc
You can check the official website for West African CFA Franc at www.bceao.int to know more details about the currency.