#FXupdate EUR/XOF holds at ~656, in line w/ 3-month avg. German CDU-SPD coalition & Ukraine conflict impacting EUR sentiment. Analysts: ECB policy, geopolitics & energy markets key for rate outlook as oil dips 11.9% to $64.76
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EUR to XOF Market Data
Euro (EUR) to West African franc (XOF) market data - latest interbank exchange rate, trend, chart & historic rates.
Sell EUR →
Buy XOF
EUR to XOF is steady at its 3-month average 656.
|Tracker
| Date | EUR/XOF | Change | Period |
|---|---|---|---|
07 Jul 2023 | 655.96 | no change | 2 Week |
22 Apr 2023 | 655.96 | no change | 3 Month |
21 Jul 2022 | 655.96 | no change | 1 Year |
22 Jul 2018 | 655.96 | no change | 5 Year |
23 Jul 2013 | 655.52 | 0.1% ▲ | 10 Year |
26 Jul 2003 | 656.83 | 0.1% ▼ | 20 Year |
What are equivalent amounts of EUR and XOF?
Here are some popular conversion amounts for EUR to XOF (Euro to West African franc)*.
*Converted at the current EURXOF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Forecasts for EUR to XOF
The EUR to XOF exchange rate remains stable at around 656, consistent with its three-month average. Analysts suggest that the euro's trajectory is influenced by a combination of internal political dynamics within the Eurozone, particularly following the coalition agreement between Germany's CDU and SPD, and ongoing geopolitical risks, including the implications of the war in Ukraine.
Read our full review of recent EUR to XOF forecasts.
How to get a good EUR to XOF exchange rate
There are several ways to save on exchange rates when converting Euro to West African franc:
- Shop around for the best EUR/XOF exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
- Timing is important: Keep an eye on the EUR/XOF rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
- Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
- Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both EUR and XOF at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
- Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.
The key is reducing excessive costs and fees
Generally speaking, if you are buying West African franc with Euro, then it's better for the EUR/XOF exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
Read our Currency guide to Senegal — a practical currency and money guide to travel in Senegal plus living and doing business with the West African franc.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
Will the Euro rise against the West African franc?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add EUR/XOF to your personalised Rate Tracker to track and benefit from currency movements.
Track Rate
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
Currency Country Guides
| Eurozone (EUR) | Senegal (XOF) |  Benin (XOF) |
 Burkina Faso (XOF) |  Ivory Coast (XOF) |  Guinea-Bissau (XOF) |
 Mali (XOF) |  Niger (XOF) |  Togo (XOF) |
Here are a few things you may want to consider when sending money to Senegal:
Choose a reputable money transfer service: Make sure to do your research and choose a reputable service to transfer your money. Consider factors such as exchange rates, fees, and the speed of the transfer.
Consider the exchange rate: The exchange rate you receive may be different from the mid-market exchange rate, which is the rate banks use when they exchange currencies. Some money transfer services may offer better exchange rates than others.
Compare fees: Fees can vary widely between money transfer services, so it's important to compare options to find the most cost-effective solution.
Consider the delivery method: Some money transfer services allow you to send money directly to a bank account in Senegal, while others allow you to send money for pickup at a location in the country. Choose the delivery method that best meets your needs.
Read more at our Senegal (XOF) country guide
Related exchange rates
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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