General Currency Info - 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.
XOF News, Forecasts and Trends
Forecasts
The West Africa CFA franc has a fixed rate of exchange with the euro (and previously the French franc) set at 1 euro = 655.957 XOF. The XOF franc is characterised as a credible and stable currency, a significant virtue given the experience of most currency-issuing African nations.
US Dollar to West African Franc - Historical Rates
| USD/XOF | 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 |
| 601.64 05 Mar 2016 | 8.9% â–Ľ | 5 Years |
| 469.23 07 Mar 2011 | 16.8% â–˛ | 10 Years |
USD/XOF 10 year historic rates & change to 04-Mar-2021 : 547.83
$10,000 USD
=
5,485,049 XOF
Converted at USD/XOF interbank rate,
compare
Send Money
and
Currency Exchange
exchange rates.
US Dollar to West African Franc - Quick Convert
|
USD |
XOF |
| $ 1 |
548.50 |
| $ 5 |
2,743 |
| $ 10 |
5,485 |
| $ 20 |
10,970 |
| $ 50 |
27,425 |
| $ 100 |
54,850 |
| $ 250 |
137,125 |
| $ 500 |
274,250 |
| $ 1,000 |
548,500 |
| $ 2,000 |
1,097,000 |
| $ 5,000 |
2,742,500 |
| $ 10,000 |
5,485,000 |
| $ 50,000 |
27,425,000 |
| $ 100,000 |
54,850,000 |
| More amounts |
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?
Travel, Currency and Money saving tips for Guinea-Bissau
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.
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 Send to West 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 West African Franc deposited into the recipient bank account and less margins and fees kept by the banks!
