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Benin

Money & Shopping

Money & Shopping

The West African CFA franc (XOF) is used by Benin. It is also used by Côte d'Ivoire, Burkina Faso, Guinea-Bissau, Mali, Niger, Sénégal and Togo. While strictly a separate currency from the Central African CFA franc (XAF), the two currencies are used interchangeably at par throughout all CFA franc (XAF & XOF) using countries.

Both CFA francs are guaranteed by the French treasury and are pegged to the euro at €1 = 655.957 CFA francs.

There are banks in all the major cities, and most of the banks have cash machines. Keep in mind that many businesses and offices, including banks, close for several hours in the middle of the day.

Prices for goods purchased in a store, restaurant, hotel, bus tickets, etc. are non-negotiable, but almost everything else is. Depending on the item, it's not uncommon for foreigners to be quoted a price that is double the final purchase price.

One can find any type of African commodity all over Benin.

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Benin - Travel guide

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