TOGO

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 Senegal 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:

American Express is the most widely accepted credit card. For cash withdrawals, it is best to go ti the Togolese Central Bank in Lomé - note that you will need a Visa card for this.

CURRENCY EXCHANGE:

Currency exchange services are available at larger banks and bureaux de change.

TRAVELLER'S CHEQUES:

These are accepted mostly in the capital.

BANKING HOURS:

Mon-Fri 0800-1600.

CURRENCY RESTRICTIONS:

Declare on arrival with import of foreign currency. Export of local currency only to limit of XOF 1 million.

COUNTRY OVERVIEW:

Togo is located in West Africa and is officially called the Togolese Republic. It has been independent from France since 1960. The capital is Lomé and the official language is French though other languages are also spoken there.

POPULATION:

Around 6.3 million.

ECONOMY:

The economy of Togo is based on agriculture - both commercial and subsistence. The main export products are coffee, cotton and cocoa. It is a key country in the area for trade and it has worked hard to implement economic reform especially since political unrest and strikes hampered the economy in the early 1990s.