The live mid-rate USD to XOF exchange rate is 576.65. Compare currency conversion rates - Reduce FX costs.
The best USD to XOF exchange rate is 554.6135 from OFX . This is -3.8% compared to the mid-market rate 576.65.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to West African franc (XOF) rates from different sources before making a conversion.
Looking at our comparison table the best USD to XOF exchange rate is 554.6135 from OFX, -3.8% from the mid-market rate 576.65.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
The Dollar to West African franc comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest USD-XOF mid-rate (see Market Data below ) and the possible savings of using various providers.
US dollar (USD) to West African franc (XOF) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | USD/XOF | Change | Period |
|---|---|---|---|
07 Jul 2023 | 598.01 | 1.5% ▼ | 2 Week |
22 Apr 2023 | 591.14 | 0.3% ▼ | 3 Month |
21 Jul 2022 | 641.81 | 8.2% ▼ | 1 Year |
22 Jul 2018 | 558.70 | 5.5% ▲ | 5 Year |
23 Jul 2013 | 496.56 | 18.7% ▲ | 10 Year |
26 Jul 2003 | 571.54 | 3.1% ▲ | 20 Year |
Here are some popular conversion amounts for USD to XOF (US dollar to West African franc)*.
*Converted at the current USDXOF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The outlook for the USD to XOF exchange rate highlights significant pressure on the US dollar (USD) driven by trade policy uncertainties and geopolitical tensions. Analysts have noted the dollar's recent defensive stance amid concerns regarding stalled trade talks between the US and its primary trading partners, which have created jitters in the market. The announcement of a new trade agreement with the UK, although positive, lacked specific details, leaving questions about its actual impact on the USD.
Read our full review of recent USD to XOF forecasts.
There are several ways to save on exchange rates when converting US dollar to West African franc:
Generally speaking, if you are buying West African franc with US dollar, then it's better for the USD/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.
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 USD/XOF to your personalised Rate Tracker to track and benefit from currency movements.
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
| United States (USD) | 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.
Confirm the recipient's information: Make sure you have the correct name and address of the recipient, as well as any other necessary information required by the money transfer service. This will help ensure that the money is delivered to the correct person.
Keep track of the transaction: It's a good idea to keep a record of the transaction, including the transaction ID, the amount sent, and the exchange rate used. This will help you track the status of the transfer and resolve any issues that may arise.
Read more at our Senegal (XOF) country guide
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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