The Guinea Bissau peso is the official currency of the West African country of Guinea Bissau. It is often abbreviated as GWP or XOF, with the latter being the ISO code used for the West African CFA franc - the common currency of several West African countries (including Guinea Bissau). Other synonyms for the Guinea Bissau peso include the Guinean peso and the Bissauan peso. The currency is divided into smaller denominations called centavos, and it is commonly used for day-to-day transactions within the country. Despite its relative obscurity in the international currency market, the Guinea Bissau peso holds significant importance as an economic indicator for the country's growth and development.