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
Forecasts
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.
US Dollar to Central African Franc - Historical Rates
| USD/XAF | Change | Period |
|---|
| 539.53 25 Feb 2021 | 1.5% â–˛ | 1 Week |
| 544.98 02 Feb 2021 | 0.5% â–˛ | 30 Days |
| 541.20 04 Dec 2020 | 1.2% â–˛ | 90 Days |
| 588.93 04 Mar 2020 | 7% â–Ľ | 1 Year |
| 596.40 05 Mar 2016 | 8.1% â–Ľ | 5 Years |
| 486.85 07 Mar 2011 | 12.5% â–˛ | 10 Years |
USD/XAF 10 year historic rates & change to 04-Mar-2021 : 547.83
$10,000 USD
=
FCFA5,485,499 XAF
Converted at USD/XAF interbank rate,
compare
Send Money
and
Currency Exchange
exchange rates.
US Dollar to Central African Franc - Quick Convert
|
USD |
XAF |
| $ 1 |
FCFA 548.55 |
| $ 5 |
FCFA 2,743 |
| $ 10 |
FCFA 5,486 |
| $ 20 |
FCFA 10,971 |
| $ 50 |
FCFA 27,428 |
| $ 100 |
FCFA 54,855 |
| $ 250 |
FCFA 137,138 |
| $ 500 |
FCFA 274,275 |
| $ 1,000 |
FCFA 548,550 |
| $ 2,000 |
FCFA 1,097,100 |
| $ 5,000 |
FCFA 2,742,750 |
| $ 10,000 |
FCFA 5,485,500 |
| $ 50,000 |
FCFA 27,427,500 |
| $ 100,000 |
FCFA 54,855,000 |
| 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.
Send Money to Gabon - Best Rates
To get a good (and fair) exchange rate when sending money to Gabon 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 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 :
- 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 Gabon.
Use the above 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!
