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Country Guide > Africa > Guinea-Bissau | |
Currency CFA (Communauté Financiaire Africaine) Franc (CFAfr) = 100 centimes. Notes are in denominations of CFAfr10,000, 5000, 2500, 1000 and 500. Coins are in denominations of CFAfr250, 100, 50, 25, 10 and 5. 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 Very 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:
Banking hours Mon-Fri 0730-1430. |