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Mali - West African franc - Currency Guide

 

Foreign exchange guide to Mali and the West African franc (XOF)

     

USD/XOF Trend (90-day)

USDXOF at 546.3 is just below its 90-day average, range 539.0-559.8.
14DHIGH
|
Alert:14DHIGH |
 
Recent USD to XOF Trend + Alerts

The above interactive chart shows the USD/XOF Exchange Rate, Trends and Alerts - UP DOWN HIGH LOW

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/XOFChangePeriod
540.57
28 Apr 2021
1.1% ▲1 Week
555.10
05 Apr 2021
1.6% ▼30 Days
548.12
04 Feb 2021
0.3% ▼90 Days
605.19
05 May 2020
9.7% ▼1 Year
578.83
06 May 2016
5.6% ▼5 Years
448.93
08 May 2011
21.7% ▲10 Years

USD/XOF 10 year historic rates & change to 05-May-2021 : 546.29

 

$10,000 USD
=
5,464,858 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
$ 1 546.49
$ 5 2,732
$ 10 5,465
$ 20 10,930
$ 50 27,325
$ 100 54,649
$ 250 136,623
$ 500 273,245
$ 1,000 546,490
$ 2,000 1,092,980
$ 5,000 2,732,450
$ 10,000 5,464,900
$ 50,000 27,324,500
$ 100,000 54,649,000
More amounts
USD XOF
$ 0.0018 1
$ 0.0092 5
$ 0.0183 10
$ 0.0366 20
$ 0.0915 50
$ 0.1830 100
$ 0.4575 250
$ 0.9150 500
$ 1.8300 1,000
$ 3.6600 2,000
$ 9.1500 5,000
$ 18.30 10,000
$ 91.50 50,000
$ 183.00 100,000
More amounts
 

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.

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 Mali

Travel money for Mali

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 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 :

  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 Mali.

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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