1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 90.8799 XOF (CFA Franc BCEAO). The XOF is used as the official currency by eight independent states in West Africa: Benin, Burkina Faso, Cote d Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. BCEAO stands for Banque Centrale des Etats de l Afrique de l Ouest. The XOF (CFA Franc BCEAO) currency is pegged to the Euro at 1 euro = 655.957 XOF. The CFA Franc BCEAO (XOF) replaced the French Franc in 1945.