Friday, September 10, 2021

Money & Shopping in Benin

AfricaBeninMoney & Shopping in Benin

Benin uses the West African CFA franc (XOF). Côte d’Ivoire, Burkina Faso, Guinea-Bissau, Mali, Niger, Sénégal, and Togo also use it. While technically distinct from the Central African CFA franc (XAF), the two currencies are used interchangeably at par in all CFA franc (XAF & XOF)-using nations.

The French treasury backs both CFA francs, which are linked to the euro at €1 = 655.957 CFA francs.

Banks may be found in all major cities, and the majority of them feature cash machines. Remember that many companies and offices, including banks, shut for many hours throughout the day.

Prices for products bought at a shop, restaurant, lodging, bus tickets, and so on are not negotiable, but almost everything else is. It is fairly unusual for foreigners to be offered a price that is twice the actual purchase price, depending on the item.

All throughout Benin, one may find every kind of African product.