Currency in Guinea-Bissau XOF - Things to know
Foreign exchange guide to Guinea-Bissau and the West African franc
What's in this Guinea-Bissau currency guide?
What currency is used in Guinea-Bissau?
The official currency of Guinea-Bissau (country code: GW) is the West African franc, with symbol and currency code XOF.
Loading rates...
|
|
|
Things to know about the West African franc
The West Africa CFA franc (XAF) is the currency of six independent states in Western Africa - Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo.
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.
Travel money for Guinea-Bissau
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.
Travel Ideas and Money Tips for Guinea-Bissau
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.
USD/XOF Market Data
The below interactive chart displays the USD/XOF change and UP📈 DOWN📉 trends over the past 1 Year.
Frequently Asked Questions
What currency should I use in Guinea-Bissau?
The domestic currency in Guinea-Bissau is the West African franc.
What is the West African franc currency code and symbol?
The three letter currency code for the West African franc is XOF.
Which countries use the West African franc?
It is the domestic currency in Senegal, Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger and Togo.
Is the West African franc a closed currency?
No, the West African franc is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and XOF?
Here are some popular conversion amounts for USD to XOF (US dollar to West African franc)*.
*Converted at the current USDXOF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Send Money to Guinea-Bissau - Best Rates
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.
Get a better deal for foreign transfers to Guinea-Bissau
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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or West 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 XOF amount will be transfered to the recipient account you specify in Guinea-Bissau.
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!