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Guinea-Bissau - West African Franc - Currency Guide

 

Foreign exchange guide to Guinea-Bissau and the West African Franc (XOF)

   

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

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.

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

   
Recent USD to XOF 90-day trend
 
ALERTS:1-DAY0.6% | 14-DAY LOWS |
USD/XOF at 577.03 was trading 2.8% below AVG:593.84 with LO:576.64 and HI:608.63 (90 days). ALERTS: Today USD/XOF was DOWN 0.6% and also dropped to 14-DAY LOWS.

US Dollar to West African Franc - Historical Rates

USD/XOF rateChangePeriod
03 Jul 2020 : 583.21140.5% ▼1 Week
10 Jun 2020 : 577.07030.6% ▲30 Days
11 Apr 2020 : 599.84183.2% ▼90 Days
11 Jul 2019 : 583.08330.4% ▼1 Year
12 Jul 2015 : 588.41721.4% ▼5 Years
13 Jul 2010 : 520.292411.6% ▲10 Years
USD/XOF 10 year historic rates & changes to 10-Jul-2020 : 580.4621
 

U$1,000 USD
=
577,230 XOF

Converted at USD/XOF wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to West African Franc - Quick Conversions

USD XOF
U$ 1 577.23
U$ 5 2,886
U$ 10 5,772
U$ 20 11,545
U$ 50 28,862
U$ 100 57,723
U$ 250 144,308
U$ 500 288,615
U$ 1,000 577,230
U$ 2,000 1,154,460
U$ 5,000 2,886,150
U$ 10,000 5,772,300
U$ 50,000 28,861,500
U$ 100,000 57,723,000
More amounts
USD XOF
U$ 0.0017 1
U$ 0.0087 5
U$ 0.0173 10
U$ 0.0346 20
U$ 0.0866 50
U$ 0.1732 100
U$ 0.4330 250
U$ 0.8660 500
U$ 1.7320 1,000
U$ 3.4640 2,000
U$ 8.6600 5,000
U$ 17.32 10,000
U$ 86.60 50,000
U$ 173.20 100,000
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.

 

Sending money to Guinea-Bissau

When searching around for information on how to get a good exchange rate when sending money to Guinea-Bissau you need to start with finding out the latest West African Franc exchange rate for foreign-transfers, which can be very different to the wholesale 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 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 :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or West 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 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!


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