Equatorial Guinea uses the Central African CFA franc (XAF). Cameroon, the Central African Republic, Chad, the Republic of Congo, and Gabon all use it. While the CFA franc (XAF) and the Western African CFA franc (XOF) are technically distinct currencies, they are used interchangeably in all CFA franc (XAF & XOF)-using nations.
The French Treasury backs both CFA francs, which are linked to the euro at €1 = XAF655.957.
In Equatorial Guinea, everything is very costly. A good room with extremely minimal facilities will cost between €100 and €400 (bring all essential items like towel, soap, shampoo, etc. since the hotel may not have any). In a nice and air-conditioned restaurant, a basic lunch will cost at least €30 (without beverages such as wine, beer, or soft drinks).