Foreign Exchange Guide to Senegal
In this guide we review :
- West African franc info - general info about the West African franc
- Travelling in Senegal - currency & money saving tips
- Buying West African franc cash online - travel money for Senegal
- Sending money to Senegal - save on West African franc bank transfers to Senegal
- West African franc exchange rates - latest info & charts.
West African franc (XOF) general currency information
Senegal currency and money saving tips
The currency used in Senegal is called the West African CFA Franc, pronounced say-fa. This type of currency is available through money exchange offices, in banks, and through local automated teller machines (ATMs), which are available in Dakar. ATMs are difficult to find outside of the city of Dakar. Tourists normally try to utilize their credit cards while on vacation to make purchases because they are safe to use and the exchange rate with a credit card is usually very good. However, in Dakar , credit cards are usually only accepted in hotels and credit card fraud is very common.
The people who live in Dakar speak many different languages. The official language is French but other languages are spoken as well. Many people in Dakar do speak some English. Local languages include Wolof, Pular and Serer.
Senegal Trip Checklist
Travel money for Senegal
Save money and time by Ordering your West African franc online from Travelex, you get better rates and can pick up the XOF 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 West African franc otherwise you may get much worst exchange rates.
Sending money to Senegal
When sending money to Senegal 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 West 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 XOF amount will be transfered to the recipient account you specify in Senegal.
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 West African franc deposited into the recipient bank account in Senegal and less margins and fees kept by the banks!