The Central African Republic franc is the official currency of the Central African Republic (CAR). However, there are several other synonyms for this currency, such as CFA franc, XAF, and Communaute Financiere Africaine franc. While the CAR franc is the local name for this currency, CFA franc is used across several countries in Africa and is governed by the Banque des États de l'Afrique Centrale (BEAC), which is the central bank of African states. XAF, on the other hand, is the international code of the Central African CFA Franc, which is used for currency exchange. Furthermore, the Communaute Financiere Africaine franc is another term used for the CFA franc currency, which is used across West and Central African countries.