Foreign Exchange Guide to Cameroon
Central African franc
In this guide we review :
- Central African franc info - general info about the Central African franc
- Central African franc in the markets - recent XAF moves and predictions from the FX markets
- Travelling in Cameroon - currency & money saving tips
- Buying Central African franc cash online - travel money for Cameroon
- Sending money to Cameroon - save on Central African franc bank transfers to Cameroon
- Central African franc exchange rates - latest info & charts.
Central African franc (XAF) general currency information
The three letter currency code for the Central African franc is XAF and the symbol is FCFA. It is the domestic currency in Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon.
Central African franc (XAF) in the markets
The chart below shows the XAF to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
Currency and money saving tips for Cameroon
The currency is the Central African franc (CFA), ATMs are still a rarity in Cameroon. They're at the banks and hotels in Yaounde and Douala, but more difficult to find in other towns. The most acceptable credit card is Visa, then Mastercard, and AMEX. Cameroon has a cash economy, most businesses don't accept credit cards or travelers checks. Take Euro's as these are most easily changed. American dollars and travellers cheques are much more diffficult to exchange, but Euro's can be exchange in places around the country, especially main cities. Euro travelers' cheques, from Visa/Mastercard are the most widely used and strongly recommended. Most of the main banks will exchange these, however service is slow, and plenty of time needs to be allowed for service. The quickest way to transfer money in an emergency is by Western Union, which has offices in Douala, and Yaounde.
Remember to keep CFA 10,000 or US$20 for departure tax at the airport. Departure tax on internal flights is CFA500, or US$1.00. Due to the exchange rate, it is cheaper to pay in CFA.
Cameroon Trip Checklist
Travel money for Cameroon
Save money and time by Ordering your Central African franc online from Travelex, you get better rates and can pick up the XAF cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Central African franc otherwise you may get much worst exchange rates.
Travel Money for Cameroon
Sending money to Cameroon
When sending money to Cameroon it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Central African franc amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted XAF amount will be transfered to the recipient account you specify in Cameroon.
Bank Transfers to Cameroon
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Central African franc deposited into the recipient bank account in Cameroon and less margins and fees kept by the banks!