Foreign exchange guide to Guinea-Bissau and the West African franc
What's in this Guinea-Bissau currency guide?
The official currency of Guinea-Bissau (country code: GW) is the West African franc, with symbol and currency code XOF.
In several central African states the Central African CFA franc (currency code XAF) is in circulation, such as Cameroon - Central African CFA franc. The Central African CFA franc is of equal value to the West African franc. Both XAF and XOF currencies are referred to as the CFA franc.
Save money and time by Ordering your West African franc online from Travelex, you get better rates and can pick up the XOF 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 West African franc otherwise you may get much worst exchange rates.
Guinea-Bissau is a small country located in West Africa, bordered by Senegal, Guinea, and the Atlantic Ocean. It is known for its diverse cultures, wildlife, and colonial history.
The country has a rich cultural heritage, with a mix of indigenous, European, and African influences. Visitors can experience the local culture by visiting traditional villages, attending festivals, and experiencing the local music, dance, and cuisine.
Guinea-Bissau is also home to a diverse array of wildlife, including primates, birds, and reptiles. The Orango Islands National Park is a popular destination for ecotourism, as it is home to a unique population of saltwater hippos.
The country has a colonial history, with the Portuguese colonizing the region in the 15th century. Visitors can see the remains of the colonial era in the capital city of Bissau, including the Presidential Palace and the Fortress of São José.
Guinea-Bissau is one of the poorest countries in the world and has a fragile economy. Agriculture is the main economic activity and the country is heavily dependent on foreign aid. The official language is Portuguese, but French and Creole are also widely spoken.
Overall, Guinea-Bissau is a country with a rich cultural heritage and diverse wildlife, but it is one of the poorest countries in the world with a fragile economy. It is worth noting that Guinea-Bissau has experienced political instability in the recent past. Travelers should check with their government's travel advisory before planning their trip.
The domestic currency in Guinea-Bissau is the West African franc.
The three letter currency code for the West African franc is XOF.
No, the West African franc is freely available and convertible. See guide: What is a closed currency?
To get a good (and fair) exchange rate when sending money to Guinea-Bissau 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 Guinea-Bissau 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 West African franc deposited into the recipient bank account and less margins and fees kept by the banks!