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    Benin - West African franc - Currency Guide

     

    Foreign exchange guide to Benin and the West African franc (XOF)

         

    USD/XOF Trend (90-day)

    USD to XOF at 564.3 is 0.9% above its 90-day average, range 551.8-568.8.
    |
    1-DAY-0.5%
    14-DAYLOW
     

    The below interactive chart displays the USD/XOF trend and UP DOWN HIGH LOW alerts

     
    USD to XOF Currency Trend Chart

    General Currency Info - West African franc

    The West Africa CFA franc (XAF) is the currency of six independent states in Western Africa - Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.

    In several central African states the Central African CFA franc (currency code XAF) is in circulation, such as Cameroon - Central African CFA franc. The Central African CFA franc is of equal value to the West African franc. Both XAF and XOF currencies are referred to as the CFA franc.

       

    XOF Forecasts and Trends

    The West Africa CFA franc has a fixed rate of exchange with the euro (and previously the French franc) set at 1 euro = 655.957 XOF. The XOF franc is characterised as a credible and stable currency, a significant virtue given the experience of most currency-issuing African nations.

    US dollar to West African franc - Historical Rates

    USD/XOF wasChangePeriod
    565.69
    05 Oct 2021
    0.3% 2 Weeks
    556.20
    21 Jul 2021
    1.4% 90 Days
    557.39
    19 Oct 2020
    1.2% 1 Year
    601.58
    20 Oct 2016
    6.3% 5 Years
    476.95
    22 Oct 2011
    18.2% 10 Years
    735.63
    24 Oct 2001
    23.3% 20 Years
    USD/XOF change over periods to 19-Oct-2021
     

    $10,000 USD
    =
    5,641,428 XOF

    Converted at USD/XOF interbank rate, compare Send Money and Currency Exchange exchange rates.

    USD to XOF - Quick Amounts

    Sell USD   →   Buy XOF
    USD XOF
    $ 1 564.14
    $ 5 2,821
    $ 10 5,641
    $ 20 11,283
    $ 50 28,207
    $ 100 56,414
    $ 250 141,035
    $ 500 282,070
    $ 1,000 564,140
    $ 2,000 1,128,280
    $ 5,000 2,820,700
    $ 10,000 5,641,400
    $ 20,000 11,282,800
    $ 50,000 28,207,000
    $ 100,000 56,414,000
    USD XOF
    $ 0.0018 1
    $ 0.0089 5
    $ 0.0177 10
    $ 0.0355 20
    $ 0.0887 50
    $ 0.1773 100
    $ 0.4433 250
    $ 0.8865 500
    $ 1.7730 1,000
    $ 3.5460 2,000
    $ 8.8650 5,000
    $ 17.73 10,000
    $ 35.46 20,000
    $ 88.65 50,000
    $ 177.30 100,000

    More amounts

     

    Frequently Asked Questions

     

    What currency should I use in Benin?

    The domestic currency in Benin is the West African franc.

    What is the West African franc currency code and symbol?

    The three letter currency code for the West African franc is XOF.

    Which countries use the West African franc?

    It is the domestic currency in    Senegal,   Benin,   Burkina Faso,   Ivory Coast,   Guinea-Bissau,   Mali,   Niger and Togo.

    Is the West African franc a closed currency?

    No, the West African franc is freely available and convertible. See guide: What is a closed currency?

     

    Travel, Currency and Money saving tips for Benin

    The official language of Bénin is French, but there are several other indigenous languages which are spoken in various regions of the country. Bénin is the birthplace of Vodun (Voodoo) and all that goes with it—to this day Vodun remains the official religion of the country, and an important part of the life of ordinary Beninese. While more and more Bénin nationals are starting to use English, it is not yet widely accepted. But Bénin will also thrill visitors with its palm-fringed beaches of the Atlantic coast, the rugged scenery of the north and the Parc National de la Pendjari, one of the best wildlife parks in West Africa. Lions, cheetahs, leopards, elephants and hundreds of other species thrive here.

    Can I use credit cards in Bénin?

    In Bénin the currency is the West African CFA. Credit cards are accepted in the major centers and ATMs are available in the cities, as well. You can generally change Euros, US dollars and the British pound in Cotonou. ATMs in Cotonou are also widespread (though mostly visa only) and you'll also find Western Union in operation in Bénin. The best foreign currency to carry with you in Brenin is the euros, which are easily exchanged at banks, hotels or bureaux de change.

    Getting around in Bénin.

    There is an extremely timely and reliable bus system that runs your average tour-style bus through every major city in Bénin everyday, and even some in and out of Bénin. There are many major lines with a range of quality of buses. Bush Taxi is possible between most cities, every day in major cities, periodically for the more remote ones. The total price for long distances will be a little higher than by bus, and comfort and security are significantly lower. Drivers are often trying to maximize the number of people in the car so one can expect an intimate experience with the local population. Traffic is insane and the rules on the road are almost never enforced. If you are planning on driving yourself in Bénin, an International Driver's license is required. The cheapest way to travel within a city or village is by motorcycle taxi (moto, zemidjan or zem). They are cheap and the drivers usually know the city well.

    There is a train route that goes halfway up the country, from Cotonou to Parakou, run by L’Organisation Commune Bénin-Niger des Chemins de Fer et Transports. While the train takes longer than a bush taxi, its a much more relaxing way of traveling.

     

    Travel money for Benin

    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.

     

    Send Money to Benin - Best Rates

    To get a good (and fair) exchange rate when sending money to Benin you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


    Get a better deal for foreign transfers to Benin

    When sending money to Benin 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 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or West African franc amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted XOF amount will be transfered to the recipient account you specify in Benin.

    Use the above Send to West African franc calculator to compare the exchange 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 and less margins and fees kept by the banks!


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