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    OFX USD to XOF Exchange Rates Compared Live

    The live OFX USD-XOF rate is 583.3673. This is -3.3% below the mid-rate. Compare OFX currency conversion rates - Reduce FX costs.

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    What is the OFX Send Money conversion rate for USD to XOF?

    The OFX USD to XOF exchange rate is 583.3673. This is -3.3% compared to the mid-market rate 603.21.

    Exchange rates can vary significantly between different currency exchange providers, so it's important to Compare US dollar (USD) to West African franc (XOF) rates from different sources before making a conversion.

     

    Compare Rates

     

    The OFX 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 OFX and other foreign exchange providers against the latest USD-XOF mid-rate (see Market Data below ) and the possible savings of using various providers. 

     
     

    OFX at a glance:

    OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.

    OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.

    OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

    When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.

    Learn more about OFX

    Using OFX for money transfers offers the benefit of lower fees and competitive exchange rates compared to traditional banks, making international transactions more cost-effective.

    Additionally, OFX provides 24/7 customer support, a range of transfer options including spot and forward contracts, and a user-friendly online platform, enhancing convenience and flexibility for global financial transactions.

    What Savings Can I Expect with OFX?

    OFX offers exchange rates that beat the banks, and are close or equal to the rates offered by the industry’s lowest-cost services.

    When you register via our OFX 0.5% exclusive offer for BER users the cost of sending, for example, 5,000 US dollars to Australia equates to 0.5 percent of the transferred amount, or roughly US$25. You’d pay the same 0.5 percent for the same amount to be sent to Europe and around 1 percent if sending to India. This compares with 4–7 percent with the banks.

    For other currency routes we looked at (routes involving AUD, INR, GBP, EUR, SGD and USD), the average cost of an international payment with OFX was 0.6 percent of the transferred amount. This is exceptional if compared with banks but can be a little more expensive than what is charged by the industry’s lowest-cost services, although such services do not offer the same benefits and customer service as OFX.

     
     

    USD to XOF Market Data

    US dollar (USD) to West African franc (XOF) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    1 USD =
    603.21We compare provider deals to this wholesale mid-market rate. Read more
    XOF
    +0.1%
    2W
    USD to XOF at 603.4 is 1.2% above its 3-month average of 596, having traded in a very stable 3.8% range from 586.0 to 608.3
    |
    Sell USD   →   Buy XOF
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    DateUSD/XOFChangePeriod
    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
    USD/XOF historic rates & change to 21-Jul-2023
     

    What are equivalent amounts of USD and XOF?

    Here are some popular conversion amounts for USD to XOF (US dollar to West African franc)*.

    USD XOF
    $ 1 603.21
    $ 5 3,016
    $ 10 6,032
    $ 20 12,064
    $ 50 30,161
    $ 100 60,321
    $ 250 150,803
    $ 500 301,605
    $ 1,000 603,210
    $ 2,000 1,206,420
    $ 5,000 3,016,050
    $ 10,000 6,032,100
    $ 20,000 12,064,200
    $ 50,000 30,160,500
    $ 100,000 60,321,000
    USD XOF
    $ 0.0017 1
    $ 0.0083 5
    $ 0.0166 10
    $ 0.0332 20
    $ 0.0829 50
    $ 0.1658 100
    $ 0.4145 250
    $ 0.8290 500
    $ 1.6580 1,000
    $ 3.3160 2,000
    $ 8.2900 5,000
    $ 16.58 10,000
    $ 33.16 20,000
    $ 82.90 50,000
    $ 165.80 100,000

    More amounts

    *Converted at the current USDXOF interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

     
     

    Forecasts for USD to XOF

     

    Recent forecasts for the USD to XOF exchange rate reflect a complex interplay of factors influencing the US dollar's performance amid a backdrop of mixed economic data. The USD has demonstrated volatility, recently experiencing a downturn after initial gains driven by strong ADP payrolls reports were offset by disappointing third-quarter GDP data. As FX analysts note, the upcoming core PCE price index release is critical; if inflation cools as anticipated, the USD may face additional pressure. Yet, despite this fluctuation, the dollar remains one of the strongest currencies, recently peaking at multi-month highs, as the market has discounted the likelihood of a significant interest rate cut by the Federal Reserve in the near future.

    Read our full review of recent USD to XOF forecasts.

     
    XOF and flag

    How to get a good USD to XOF exchange rate

    There are several ways to save on exchange rates when converting US dollar to West African franc:

    1. Shop around for the best USD/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.
    2. Timing is important: Keep an eye on the USD/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.
    3. 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.
    4. Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD 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.
    5. 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 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, living and doing business in Senegal 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.

    Multi-Vendor Quote

    We can help you get an even better deal when sending a Large International Money Transfer.

    Click below for the Request Quotes form and enter your transfer details (BER account required).

    Request Quotes

    Save time and money - fewer websites to visit and you get a much better exchange rate & service.

    Compare Rates

    Will the US dollar 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 USD/XOF to your personalised Rate Tracker to track and benefit from currency movements.

     
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    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

    United StatesUnited States (USD)SenegalSenegal (XOF)BeninBenin (XOF)
    Burkina FasoBurkina Faso (XOF)Ivory CoastIvory Coast (XOF)Guinea-BissauGuinea-Bissau (XOF)
    MaliMali (XOF)NigerNiger (XOF)TogoTogo (XOF)
     

    Here are a few things you may want to consider when sending money to Senegal:

    1. 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.

    2. 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.

    3. Compare fees: Fees can vary widely between money transfer services, so it's important to compare options to find the most cost-effective solution.

    4. 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

       
     
     

    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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