Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Central African Republic with the Central African franc
What's in this Central African Republic currency guide?
The official currency of Central African Republic (country code: CF) is the Central African franc, with symbol FCFA and currency code XAF.
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The domestic currency in Central African Republic is the Central African franc.
The three letter currency code for the Central African franc is XAF — symbol is FCFA.
Here is an example Central African franc banknote:
It is the domestic currency in   Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon.
No, the Central African franc is freely available and convertible. See guide: What is a closed currency?
Here are some popular conversion amounts for USD to XAF (US dollar to Central African franc)*.
USD | XAF |
---|---|
$ 1,000 | FCFA 633,060 |
$ 5,000 | FCFA 3,165,300 |
$ 20,000 | FCFA 12,661,200 |
$ 100,000 | FCFA 63,306,000 |
USD | XAF |
---|---|
$ 1.5800 | FCFA 1,000 |
$ 7.9000 | FCFA 5,000 |
$ 31.60 | FCFA 20,000 |
$ 158.00 | 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.
Here are some things you might want to know about the Central African CFA franc:
Using Wise for Central African franc travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Central African franc otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Central African franc cash before departure, you can save money by ordering online. You generally get better rates and can pick up the XAF cash locally or even on travel day at the airport.
The Central African Republic (CAR) is a landlocked country located in Central Africa. It is bordered by Chad to the north, Sudan to the northeast, South Sudan to the east, the Democratic Republic of Congo to the south, the Republic of Congo to the southwest, and Cameroon to the west.
The country has a population of around 4.8 million people and is one of the least developed countries in the world, with a GDP per capita of around $300. The majority of the population is engaged in subsistence agriculture, and the country has limited natural resources and a poorly developed infrastructure.
CAR has a long history of political instability and violence, with multiple coups and armed conflicts having occurred in recent decades. This has greatly hindered the country's economic and social development. The CAR is also affected by religious and ethnic conflict, it has been in a state of civil war since 2013 and the United Nations has maintained a peacekeeping mission in the country since 2014. The conflicts have resulted in a humanitarian crisis, with a large number of people being internally displaced or fleeing as refugees.
The below interactive chart displays the USD/XAF change and UP📈 DOWN📉 trends over the past 1 Year.
To get a good (and fair) exchange rate when sending money to Central African Republic 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.
When sending money to Central African Republic 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 :
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!
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.
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 money transfer specialist 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 Central African Republic. 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 Central African Republic. 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 Central African Republic. 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 Central African Republic, 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.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Central African Republic.
The CAR's economy is based mainly on agriculture, forestry, and mining. The country has a diverse range of natural resources, including diamonds, gold, timber, and oil, but these resources have not been fully exploited due to lack of investment, poor infrastructure and lack of governance.
CAR is also affected by poverty, and the majority of the population lives below the poverty line. The UN, the EU and other international organizations, along with some countries, are providing assistance to the CAR to improve the situation, but progress is slow due to the ongoing instability and insecurity.