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Gabon - Central African Franc - Currency Guide

 

Foreign exchange guide to Gabon and the Central African Franc (XAF)

   

General Currency Info - Central African 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. 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.

In several west African states the West African CFA franc (currency code XOF) is in circulation, such as Benin - West African CFA franc. The West African CFA franc is of equal value to the Central African CFA franc.

Both XAF and XOF currencies are referred to as the CFA franc.

   

XAF News, Forecasts and Trends

The Central African CFA franc has a fixed rate of exchange with the euro (and previously the French franc) set at 1 euro = 655.957 CFA francs.

The CFA franc is characterised as a credible and stable currency, a significant virtue given the experience of most currency-issuing African nations.

The below interactive chart shows the USD to XAF exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to XAF 90-day trend
 
ALERTS:7-DAY2.8% | 60-DAY LOWS |
USD/XAF at 585.27 was trading 2.3% below AVG:599.05 with LO:573.21 and HI:615.33 (90 days). ALERTS: USD/XAF was DOWN 2.8% this 7-DAY period and also dropped to 60-DAY LOWS.

US Dollar to Central African Franc - Historical Rates

USD/XAFPeriod to 02-JunDateRate
1.7% ▼1 Week26 May 2020597.4883
1.9% ▼30 Days03 May 2020598.4463
0.3% ▼90 Days04 Mar 2020588.9290
0.7% ▲1 Year03 Jun 2019583.2544
0.5% ▲5 Years04 Jun 2015584.6442
11.9% ▲10 Years05 Jun 2010525.0056
USD/XAF 10 year rates & changes to 02-Jun-2020 (587.2752)

US Dollar to Central African Franc - Quick Conversions

USD XAF
U$ 1 FCFA 585.13
U$ 5 FCFA 2,926
U$ 10 FCFA 5,851
U$ 20 FCFA 11,703
U$ 50 FCFA 29,257
U$ 100 FCFA 58,513
U$ 250 FCFA 146,283
U$ 500 FCFA 292,565
U$ 1,000 FCFA 585,130
U$ 2,000 FCFA 1,170,260
U$ 5,000 FCFA 2,925,650
U$ 10,000 FCFA 5,851,300
U$ 50,000 FCFA 29,256,500
U$ 100,000 FCFA 58,513,000
More amounts
USD XAF
U$ 0.0017 FCFA 1
U$ 0.0085 FCFA 5
U$ 0.0171 FCFA 10
U$ 0.0342 FCFA 20
U$ 0.0855 FCFA 50
U$ 0.1709 FCFA 100
U$ 0.4273 FCFA 250
U$ 0.8545 FCFA 500
U$ 1.7090 FCFA 1,000
U$ 3.4180 FCFA 2,000
U$ 8.5450 FCFA 5,000
U$ 17.09 FCFA 10,000
U$ 85.45 FCFA 50,000
U$ 170.90 FCFA 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Gabon?

The domestic currency in Gabon 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?

 

Travel, Currency and Money saving tips for Gabon

Travel money for Gabon

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.

 

Sending money to Gabon

When searching around for information on how to get a good exchange rate when sending money to Gabon you need to start with finding out the latest Central African Franc foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


Get a better deal for foreign transfers to Gabon

When sending money to Gabon 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 Central 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 XAF amount will be transfered to the recipient account you specify in Gabon.

Use our Send to Central 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 Central African Franc deposited into the recipient bank account and less margins and fees kept by the banks!


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