A practical currency and money guide to travel, living and doing business in Gabon and the Central African franc (XAF).
What's in this Gabon currency guide:
The official currency of Gabon (country code: GA) is the Central African franc, with symbol FCFA and currency code XAF.
Here are some things you might want to know about the Central African CFA franc:
Gabon is a country located on the west coast of Central Africa, known for its diverse wildlife and natural beauty. The country has 13 national parks and reserves, which are home to a wide variety of wildlife, including gorillas, chimpanzees, elephants, and many bird species.
Tourists can enjoy activities such as wildlife safaris, birdwatching, and hiking in the national parks and reserves. The beaches of Gabon also offer opportunities for swimming, snorkeling, and fishing.
Gabon also has a rich culture, with a variety of ethnic groups and traditional customs. Visitors can learn about the culture by visiting local villages and markets, or by attending traditional festivals and ceremonies.
The tourism infrastructure in Gabon is not well developed and the country has a small tourism industry. Accommodation options are limited, mainly small hotels and guesthouses, and transportation can be challenging.
It is important to note that Gabon is a relatively safe country to visit, but crime can be a problem in certain areas, especially in the capital city of Libreville. It's recommended to take basic safety precautions and to consult the local authorities or your embassy for specific safety advice.
Overall, Gabon is a destination for travelers seeking a unique and off-the-beaten-path experience, with stunning natural beauty and rich culture, with a sense of adventure and a remote atmosphere.
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 Gabon.
Living in Gabon as an expat can be challenging, as the country has a small expat community and a lack of infrastructure. The country is relatively isolated and the cost of living can be high, especially for imported goods.
One of the biggest challenges for expats in Gabon is the language barrier, as French is the official language and many people do not speak English well. It's recommended to learn some basic French to make it easier to navigate daily life.
Another challenge for expats in Gabon is the lack of infrastructure and services. The country has a limited number of schools and healthcare facilities, which can make it difficult for expats with children or special needs.
Additionally, the country has a relatively high crime rate, especially in the capital city of Libreville, and it's important to take basic safety precautions and to consult the local authorities or your embassy for specific safety advice.
However, Gabon also has its benefits, such as the natural beauty, the wildlife and the culture that can be discovered. The country also has a growing oil and mining industry, which can offer job opportunities for expats with relevant skills and experience.
Expat communities can be found in the main cities and towns, and joining one can be a great way to meet people and get support during the transition period.
Overall, living in Gabon as an expat can be challenging, but with patience and persistence, it is possible to make a home in Gabon and enjoy the unique experiences that this country has to offer. It's important to be well informed and prepared before making the move.
Here we list some key points for expats and businesses to consider when managing financial dealings in Gabon:
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 Gabon. 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 Gabon. 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 Gabon. 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 Gabon, 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.
The exchange rate of Central African franc (XAF), or the amount of XAF that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest USD/XAF rate plus recent trend, chart, forecasts and historic rates.
The Central African CFA franc has a fixed rate of exchange with the euro, set at 1 euro = 655.957 CFA francs, so the EURCFA exchange rate should not fluctuate very much.
15 Mar 2023
|2.4% ▼||2 Week|
29 Dec 2022
|1.7% ▼||3 Month|
29 Mar 2022
|2.3% ▲||1 Year|
30 Mar 2018
|13.7% ▲||5 Year|
31 Mar 2013
|18.2% ▲||10 Year|
03 Apr 2003
|1.1% ▼||20 Year|
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Gabon or planning a trip or maybe living there, so will need to exchange and spend Central African franc.
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It is important to note that the exchange rate of the Central African franc can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect XAF exchange rates before making any financial decisions.