The currency used in Equatorial Guinea is the Central African CFA Franc, known in Equatorial Guinea as Franco. It is one of six countries that uses this currency unit.
The CFA Franc’s currency code is XFA and is also abbreviated to F.CFA.
The country is very much still a cash economy, and most shops and restaurants will not accept credit or debit cards.
The Central African CFA Franc is not to be confused with the West African CFA Franc.
What is the CFA Franc?
The CFA Franc is a monetary union between six countries in central Africa – Equatorial Guinea, Gabon, Cameroon, Central African Republic, Republic of Congo and Chad.
CFA originally stood for Colonies Francaises d’Afrique, the French Colonies of Africa. All of the member states were originally French colonies, except for Equatorial Guinea, which was Spanish, but joined the currency union in 1985.
Notes in circulation
Bank notes for the Central African CFA Franc come in 500, 1000, 2000, 5000 and 10000 denominations.
Coins in circulation
Coins for the Central African CFA Franc come in denominations of 1, 2, 5, 10, 25, 50, 100 and 500.
Are there ATMs?
There are a few ATMs in the cities of Malabo and Bata, which accept both Mastercard and Visa, however these shouldn’t be relied on. Outside of the two main cities, finding an ATM is extremely difficult.
Using foreign currencies in Equatorial Guinea
Large hotels will accept payment in USD or Euros, as well as guides. For every day purchases you will need to use Francs.
Exchange Rate
The Central African CFA Franc is currently pegged to the Euro at 656 Francs to 1 Euro and has been since 1999.
