Currency in Senegal: what to use and how to exchange

The CFA franc is the currency of eight West African states, so the same notes and coins circulate in Senegal, Mali, Côte d'Ivoire and neighbours. It is pegged to the euro at 655.957 XOF, a rate that has not moved since 1999. That means your euro budget converts at a flat number, and the dollar rate only shifts with the euro-dollar market — about 560–600 XOF per US$ in recent years (check).

Prices are usually quoted in XOF. In tourist areas you may hear the old term "franc CFA" or, informally, prices in "mille" (thousands). A taxi fare of "cinq mille" means 5,000 XOF, not 5,000 of anything else. Coins run from 1 to 500 XOF; the small ones are near worthless in daily use, so most transactions round to the nearest 100 or 500.

Senegal is a cash economy outside a small circle. Hotels, larger supermarkets, some Dakar restaurants and a few tour operators take Visa or Mastercard, and mobile money is common among locals. For markets, taxis, sept-place fares, small guesthouses and anything upcountry, carry cash. Plan to arrive with enough XOF for your first day: airport taxi, water, a meal.

Exchanging is straightforward but the venue matters. Banks in Dakar and Saint-Louis change euro and US dollars at or near the official rate during business hours, and licensed bureaux de change in Dakar are often faster. Hotels change money but at a worse rate. Street changers may offer a better-looking number and a worse outcome; use them only if you can count the notes carefully and know the current rate.

Do not plan on changing CFA back at a good rate. The franc is not freely traded outside the region, so you will usually lose on the round trip. Change what you need in stages and spend the last of it at the airport or keep a small amount as a souvenir. If you are continuing to another CFA country, the notes stay valid.