CÔTE D'IVOIRE (FORMERLY IVORY COAST)

(XOF) Currency News >>

CURRENCY:

CFA (Communauté Financière Africaine) Franc (XOF)

DENOMINATIONS:

NOTE: XOF10,000, 5,000, 2,000 and 1,000.

COIN: XOF500, 200, 100, 50, 25, 10, 5 and 1.

Please note that Benin is part of the French Monetary Area. The CFA is tied to the Euro. Note also there are two main differences regarding currency: the Bank of West African States (Banque des Etats de l’Afrique de l’Ouest ) is the only bank to use for valid currency. Do not go to the Bank of Central African States (Banque des Etats de l’Afrique Centrale) for currency as it is NOT VALID.

US DOLLAR ACCEPTED?

Yes, widely

CREDIT/DEBIT CARDS AND ATMS:

Two major credit cards are accepted widely: MasterCard and American Express. Note that Visa and Diners Club are not accepted as widely.

CURRENCY EXCHANGE:

Currency exchange is possible at banks, hotels, and the airport.

TRAVELLER'S CHEQUES:

Travellers cheques are accepted in hotels, restaurants and selected shops. Best in Euros and US dollars.

BANKING HOURS:

Mon-Fri 0930-1730. Note banks close for lunch.

CURRENCY RESTRICTIONS:

N/A

COUNTRY OVERVIEW:

Côte d'Ivoire was formerly known as the Ivory Coast, and the former name is still used conversationally out of habit. It is a country in West Africa. This is a republic. The capital is Yamoussoukro and the official language is French.

POPULATION:

Around 18 million.

ECONOMY:

The economy of Côte d'Ivoire is heavily based on markets and relies on agriculture - cash crops are dominant. Côte d'Ivoire gained independence from France in 1960. The country maintains strong ties with France however and the latter provides it with better lines in foreign investment and export. It has become one of the most developed of the African states thanks to these ties.