Foreign exchange guide to Guinea and the Guinean franc
What's in this Guinea currency guide?
The official currency of Guinea (country code: GN) is the Guinean franc, with symbol FG and currency code GNF.
Save money and time by Ordering your Guinean franc online from Travelex, you get better rates and can pick up the GNF 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 Guinean franc otherwise you may get much worst exchange rates.
Guinea is a West African country known for its diverse culture, rich history, and natural beauty. The country is home to a number of ethnic groups, each with its own unique customs and traditions. Visitors can explore the country's rich heritage by visiting historical sites such as the Fouta Djallon region, which is known for its traditional architecture, and the city of Conakry, which is known for its museums and art galleries.
Guinea is also known for its beautiful beaches and national parks, including the Haut Niger National Park, which is home to a wide variety of wildlife including chimpanzees, elephants and crocodiles.
For those interested in culture, Guinea offers a variety of festivals and events throughout the year, including the Fêtes des Masques, which is a celebration of traditional music, dance, and masks. Visitors can also experience the country's unique traditional music and dance, and try local dishes such as Fufu and various stews.
Tourism in Guinea has been affected by political instability, lack of infrastructure and security issues. It's important to be aware of the current security situation and to follow any safety guidelines or advice provided by local authorities.
Overall, Guinea is a fascinating and welcoming destination for travelers with a rich culture, beautiful nature, and warm people. However, it's important to be aware of the challenges that the country faces and to plan ahead accordingly.
The domestic currency in Guinea is the Guinean franc.
The three letter currency code for the Guinean franc is GNF — symbol is FG.
It is the domestic currency in   Guinea.
No, the Guinean franc is freely available and convertible. See guide: What is a closed currency?
|$ 1||FG 8,605|
|$ 5||FG 43,025|
|$ 10||FG 86,050|
|$ 20||FG 172,100|
|$ 50||FG 430,250|
|$ 100||FG 860,500|
|$ 250||FG 2,151,250|
|$ 500||FG 4,302,500|
|$ 1,000||FG 8,605,000|
|$ 2,000||FG 17,210,000|
|$ 5,000||FG 43,025,000|
|$ 10,000||FG 86,050,000|
|$ 20,000||FG 172,100,000|
|$ 50,000||FG 430,250,000|
|$ 100,000||FG 860,500,000|
|$ 0.0001||FG 1|
|$ 0.0006||FG 5|
|$ 0.0012||FG 10|
|$ 0.0023||FG 20|
|$ 0.0058||FG 50|
|$ 0.0116||FG 100|
|$ 0.0290||FG 250|
|$ 0.0580||FG 500|
|$ 0.1160||FG 1,000|
|$ 0.2320||FG 2,000|
|$ 0.5800||FG 5,000|
|$ 1.1600||FG 10,000|
|$ 2.3200||FG 20,000|
|$ 5.8000||FG 50,000|
|$ 11.60||FG 100,000|
To get a good (and fair) exchange rate when sending money to Guinea 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 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 Guinean franc deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Guinea.
Doing business in Guinea can be challenging due to a number of factors, including a lack of infrastructure, a challenging business environment, and a relatively small domestic market. However, there are also opportunities for growth and development in certain sectors.
One of the main sectors of Guinea's economy is mining, particularly bauxite, which is the main source of foreign exchange, and gold, diamonds and other minerals. There are also opportunities for businesses to invest in the agriculture sector, particularly in the areas of food processing, packaging and export.
Guinea has also a large hydroelectric potential and there are opportunities for businesses to invest in the energy sector, particularly in the areas of power generation and distribution.
However, it's worth noting that the business environment in Guinea can be challenging, particularly in the areas of bureaucracy, corruption, and a lack of transparency. Additionally, the country's infrastructure is still underdeveloped, which can make it difficult for businesses to operate and for people to access goods and services.
It's important to conduct thorough research and seek professional advice before starting a business in Guinea, also to be familiar with the laws and regulations of the country and to have a good understanding of the local market and business culture. It's also important to be aware of the current security situation and to follow any safety guidelines or advice provided by local authorities.
Here we list some key points for expats and businesses to consider when managing financial dealings in Guinea:
Understand Guinean franc currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the GNF exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Guinean franc bank account: A local GNF bank account can make it easier for you to manage your finances and pay bills while you are in Guinea. It may also be more convenient to use a local GNF bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Guinea. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Guinea. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Guinea, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.