Information about the Benin currency
Currency
CFA (Communauté Financiaire Africaine) Franc (XOF) = 100 centimes. Notes are in denominations of XOF10,000, 5000, 2000 and 1000. Coins are in denominations of XOF500, 200, 100, 50, 25, 10, 5 and 1. Benin is part of the French Monetary Area. Only currency issued by the Banque des Etats de l’Afrique de l’Ouest (Bank of West African States) is valid; currency issued by the Banque des Etats de l’Afrique Centrale (Bank of Central African States) is not. The CFA Franc is tied to the Euro.
Currency exchange
Currency can be exchanged at banks and in major hotels.
Credit & debit cards
American Express, Diners Club, MasterCard and Visa are accepted on a limited basis. Some banks may advance cash on visa cards.
Traveller's cheques
To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Euros or Pounds Sterling.
Currency restrictions
The import of local currency is unlimited, subject to declaration. The export of local currency is unlimited for EU residents; other nationalities must declare currency that is to be exported (proof of origin might be demanded). The import of foreign currency is unlimited, subject to declaration. The export of foreign currency is limited to the equivalent of XOF100,000.
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