Currency in Mali: XOF Send & Spend FX Guide
Resources for Expats, Travelers and Entrepreneurs Navigating Life and Trade in Mali with the West African franc.
What's in this Mali currency guide?
What currency is used in Mali?
The official currency of Mali (country code: ML) is the West African franc, with symbol and currency code XOF.
What is a good West African franc exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good 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.
For more XOF information check out our selection of West African franc news and guides.
Frequently Asked Questions
What currency should I use in Mali?
The domestic currency in Mali 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.
What does the West African franc look like?
Here is an example West African franc banknote:
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 HKD and XOF?
Here are some popular conversion amounts for HKD to XOF (Hong Kong dollar to West African franc)*.
| HKD | XOF |
|---|---|
| HK$ 1,000 | 72,510 |
| HK$ 5,000 | 362,550 |
| HK$ 20,000 | 1,450,200 |
| HK$ 100,000 | 7,251,000 |
More amounts
*Converted at the current HKDXOF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Mali
Using Wise for West African franc travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in West African franc otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want West African franc cash before departure, you can save money by ordering online. You generally get better rates and can pick up the XOF cash locally or even on travel day at the airport.
Everyday Costs in in Mali
How much does it really cost to live, work, or travel in Mali? Here's what to expect for daily expenses and expat living.
Currency Guide for Mali (ISO Code: ML)
For a traveler planning a one-week mid-range stay in Mali, a budget of approximately 400,000 to 600,000 CFA francs (roughly $650 to $975) should suffice. This budget accommodates comfortable lodging, diverse meals, and local experiences while ensuring a bit left over for souvenirs and unexpected expenses. Here’s a quick breakdown of typical daily costs in Mali's local currency, the CFA franc (CFA):
🍽️ Meal at a local restaurant: 2,500 - 5,000 CFA
☕ Coffee: 500 - 1,000 CFA
🚌 Public transport fare: 200 - 500 CFA
📱 Prepaid SIM card: 5,000 - 10,000 CFA
🏨 Budget hotel or Airbnb: 25,000 - 50,000 CFA per night
Overall, Mali presents as a relatively affordable destination compared to the United States, where similar expenses tend to be substantially higher. For example, a meal at a restaurant in the US costs around $15-$25, while in Mali, it's only $5-$8. Compared to the UK, a budget hotel room can be twice or even thrice the price in major cities such as London, making Mali a practical choice for cost-conscious travelers.
Insights for Expats Living in Mali
For expats considering a move to Mali, typical monthly living costs can vary but often land between 1,000,000 to 1,500,000 CFA francs ($1,600 - $2,500) depending on lifestyle and location. This budget usually includes rent for a modest apartment, grocery shopping, and essential services. When it comes to banking, it’s advisable to open a local bank account for everyday transactions; however, international transfers can be facilitated through online services like Wise or OFX, which often offer better exchange rates and lower fees compared to traditional banks.
Cash remains king in Mali, as not all establishments accept cards. If using a card, expect to encounter additional charges. For the best rates, consider exchanging a portion of your currency before arriving in Mali but avoid exchanging large sums at airports to dodge unfavorable rates. Using a local ATM to withdraw CFA francs can also be a sound decision, especially if you compare withdrawal fees among banks to ensure you're not spending more than necessary.
USD/XOF Market Data
The below interactive chart displays the USD/XOF change and UP📈 DOWN📉 trends over the past 1 Year.
Recent West African franc Market News
31 March 2026
1. Alliance of Sahel States (AES) Proposes Leaving CFA Franc
In April 2025, the AES—comprising Niger, Mali, and Burkina Faso—announced plans to exit the CFA franc, aiming for greater economic and political independence. (tekedia.com)
2. Rumors of CFA Franc Devaluation Denied
In January 2026, the Bank of Central African States (BEAC) dismissed rumors of a CFA franc devaluation, citing stable economic fundamentals and sufficient foreign exchange reserves. (ecofinagency.com)
3. AES Denies Launching New Currency
In April 2025, false claims circulated that the AES had introduced a new currency called "Sira." The AES clarified that no such currency had been launched. (factcheck.afp.com)
4. Plans to Move Reserves from France
In November 2019, West African CFA franc nations announced intentions to transfer some of their foreign exchange reserves from France to gain more control over their monetary policy. (aljazeera.com)
These developments reflect ongoing efforts by West African nations to assert greater economic autonomy and control over their monetary systems.
For more XOF information read our News and guides to the West African franc.
Send Money to Mali - Best Rates
To get a good (and fair) exchange rate when sending money to Mali 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 Mali
When sending money to Mali 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 Mali.
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!
