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Country Guide > Africa > Benin | |
Currency CFA (Communauté Financiaire Africaine) Franc (CFAfr) = 100 centimes. Notes are in denominations of CFAfr10,000, 5000, 2000 and 1000. Coins are in denominations of CFAfr500, 200, 100, 50, 25, 10, 5 and 1. Benin 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 Currency can be exchanged at banks and in major hotels. Credit & debit cards American Express, Diners Club, MasterCard and Visa are accepted on a limited basis. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. Some banks may advance cash or visa cards. Traveller's cheques To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Euros or Pounds Sterling. Currency restrictions The import of local currency is unlimited, subject to declaration. The export of local currency is unlimited for EU residents; other nationalities must declare currency that is to be exported (proof of origin might be demanded). The import of foreign currency is unlimited, subject to declaration. The export of foreign currency is limited to the equivalent of CFAfr100,000. Exchange rate indicators The following figures are included as a guide to the movements of the CFA Franc against Sterling and the US Dollar:
Banking hours Mon-Fri 0800-1100 and 1500-1700. Some banks may open on Saturday. |