Currency in Cameroon XAF - Things to know
Foreign exchange guide to Cameroon and the Central African franc
What's in this Cameroon currency guide?
What currency is used in Cameroon?
The official currency of Cameroon (country code: CM) is the Central African franc, with symbol FCFA and currency code XAF.
Loading rates...
|
|
|
Things to know about the Central African franc
Here are some things you might want to know about the Central African CFA franc:
- The Central African CFA franc (XAF) is the currency of six independent states in Central Africa - Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.
- It is represented by the symbol "FCFA" and is abbreviated as XAF.
- The CFA franc was introduced in 1945, replacing the French Equatorial African franc. It is pegged to the euro at a fixed exchange rate of 1 euro = 655.957 CFA francs.
- The value of the CFA franc is guaranteed by the Central Bank of Central African States, which is responsible for issuing and managing the currency.
- The physical currency consists of coins and banknotes. The coins come in denominations of 1, 2, 5, 10, 25, 50, 100, and 500 CFA francs. The banknotes come in denominations of 500, 1,000, 2,000, 5,000, and 10,000 CFA francs.
- The banknotes feature images of famous historical figures, such as King Béhanzin and King Njoya. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
- The currency was introduced to the previously French colonies in Equatorial Africa in 1945, replacing the French Equatorial African franc. The currency continued in use when these colonies gained their independence. Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA franc in 1984.
- Both XAF and XOF currencies are referred to as the CFA franc.
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 Ideas and Money Tips for Cameroon
Cameroon is a country located in Central Africa, known for its diverse landscapes, vibrant culture, and friendly people. It is bordered by Nigeria to the west, Chad to the north, the Central African Republic to the east, the Republic of Congo, Gabon, and Equatorial Guinea to the south, and the Gulf of Guinea to the southwest. The capital city is Yaoundé, and the largest city is Douala.
For travelers, Cameroon offers a diverse range of experiences, from wildlife viewing in the national parks, to exploring the country's unique cultural heritage. Visitors can explore the Cameroonian mountain and rainforest, which is home to many species of birds, primates and other animals, such as gorillas, elephants, and chimpanzees. The country's beaches, particularly those in Kribi and Limbe, also offer some of the best scuba diving and snorkeling in West Africa. The country also has a rich cultural heritage, with over 250 ethnic groups, and visitors can learn about the traditional customs, music and dance of the various communities.
Overall, Cameroon is a country with a lot of potential, it has a rich culture and diverse landscapes, but it's important to be aware of the ongoing security and human rights issues, as well as the need to have a basic understanding of the French language to navigate daily life.
Travel tips for Cameroon
Cameroon is a diverse and beautiful country with a lot to offer travelers, but it's important to keep in mind that certain parts of the country have ongoing security issues and civil unrest. Here are some travel tips to consider when planning a trip to Cameroon:
Check travel advisories: Before planning your trip, check the latest travel advisories and security information from your government's foreign affairs department or equivalent, to stay informed about the most current safety and security risks.
Avoid risky areas: Avoid traveling to areas that are considered to be dangerous or that have ongoing conflicts. Some parts of the country, such as the Far North region, the Adamaoua region, and parts of the East region have been affected by terrorism, kidnappings, and other security-related incidents.
Be prepared for unexpected delays: Cameroon has a poorly developed infrastructure and transport can be unreliable. Be prepared for flight delays, cancellations, or other transport-related issues.
Be aware of the local laws: Be sure to familiarize yourself with the local laws and customs of Cameroon to avoid any misunderstandings or legal issues.
Have emergency contact: Make sure someone know your itinerary, and contact information for emergency and consular assistance.
Have contact of good medical facilities and emergency medical evacuation services in case of any emergency situation.
Learn some French or Pidgin English: French is the official language and it's more widely spoken throughout the country and it will be helpful to know some basic phrases for communication. Pidgin English is also spoken and understood by many people.
Respect the culture: Cameroon is a culturally diverse country, with many ethnic groups and traditional customs, be respectful and
USD/XAF Market Data
The below interactive chart displays the USD/XAF change and UP📈 DOWN📉 trends over the past 1 Year.
Frequently Asked Questions
What currency should I use in Cameroon?
The domestic currency in Cameroon is the Central African franc.
What is the Central African franc currency code and symbol?
The three letter currency code for the Central African franc is XAF — symbol is FCFA.
Which countries use the Central African franc?
It is the domestic currency in Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon.
Is the Central African franc a closed currency?
No, the Central African franc is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and XAF?
Here are some popular conversion amounts for USD to XAF (US dollar to Central African franc)*.
| USD | XAF |
|---|---|
| $ 1,000 | FCFA 599,560 |
| $ 5,000 | FCFA 2,997,800 |
| $ 20,000 | FCFA 11,991,200 |
| $ 100,000 | FCFA 59,956,000 |
| USD | XAF |
|---|---|
| $ 1.6680 | FCFA 1,000 |
| $ 8.3400 | FCFA 5,000 |
| $ 33.36 | FCFA 20,000 |
| $ 166.80 | FCFA 100,000 |
More amounts
*Converted at the current USDXAF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Send Money to Cameroon - Best Rates
To get a good (and fair) exchange rate when sending money to Cameroon 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 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 4 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.
Use the above 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 Central African franc deposited into the recipient bank account and less margins and fees kept by the banks!
Expat Money & Business Guide to Cameroon
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Cameroon.
For expats, Cameroon offers a rich cultural experience and the opportunity to interact with a diverse group of people. However, it's worth noting that the country has been affected by ongoing political instability, insecurity, and human rights issues in certain areas, so it's important to check the security situation before planning your trip and to take all necessary precautions. The cost of living can vary depending on location, but generally it is considered relatively low compared to other countries in the region.
The official languages are French and English, but there are also more than 250 ethnic languages spoken in the country. Expats should be prepared to learn some basic French as it will be more widely spoken and is the main language used in the official and business settings.
Managing your finances in Cameroon
Here we list some key points for expats and businesses to consider when managing financial dealings in Cameroon:
Understand Central African franc currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the XAF exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Central African franc bank account: A local XAF bank account can make it easier for you to manage your finances and pay bills while you are in Cameroon. It may also be more convenient to use a local XAF bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Cameroon. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Cameroon. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Cameroon, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.