| |
|
|
| |
Home
>
World
> Africa
> Guineabissau
|
Money
Currency: CFA (Communauté Financiaire Africaine) Franc (CFAfr) = 100 centimes. Notes are in denominations of CFAfr10,000, 5000, 2000, 1000 and 500. Coins are in denominations of CFAfr250, 100, 50, 25, 10, 5 and 1. Guinea-Bissau is part of the French Monetary Area. Only currency issued by the Banque des Etats de l’Afrique de l’Ouest (Bank of West African States) is valid; currency issued by the Banque des Etats de l’Afrique Centrale (Bank of Central African States) is not. The CFA Franc is tied to the Euro.
Currency exchange: US currency in small denominations is the most useful for exchange. Inter-bank fund transfers are frequently difficult and time-consuming to accomplish.
Credit & debit cards: Limited use. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
Travellers cheques: These are rarely accepted. They can sometimes be cashed at banks. There is a fixed rate of commission on all transactions.
Currency restrictions: Import and export of local currency is prohibited. Import of foreign currency is unlimited, provided declared on arrival; export of foreign currency is limited to the amount declared on arrival.
Exchange rate indicators
The following figures are included as a guide to the movements of the CFA Franc against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 1035.90 | 1025.70 | 1038.27 | 966.15 | | $1.00= | 710.84 | 674.41 | 656.55 | 606.78 |
Banking hours: Mon-Fri 0730-1430.
Copyright © 2003 Columbus Publishing Ltd.
Terms and Conditions apply.
|
|
|
|
|
