Naira to CFA Converter: CFA to Naira Today, Market and Street Rate

Type an amount, pick your currencies and you will see three rates side by side: the market rate (updated daily), the street cash rate for naira and CFA, and the fixed euro rate. Each one shows its date. The converter also covers the US dollar, euro, Ghana cedi, Canadian dollar and British pound.

The CFA franc used in Benin is the West African CFA franc (code XOF). The Central Bank of West African States (BCEAO) issues it for eight countries: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo.

The CFA franc has a fixed rate to the euro: 1 euro = 655.957 FCFA. This rate has not changed since 1999, when the euro replaced the French franc. The BCEAO confirmed it again in 2022 when it denied a rumour of devaluation.

The naira has no fixed link to the euro. The Central Bank of Nigeria publishes its exchange rates daily. So when people ask for "CFA to naira today", what really moves is the naira. The CFA franc only moves when the euro moves.

One CFA franc is a small amount, so traders in Lagos and Cotonou usually quote the rate for 1,000 FCFA. One CFA franc is worth only a few naira, so a quote in the thousands means naira for 1,000 CFA, not for 1 CFA.

Some rate websites forget to say this, and the number looks 1,000 times too big. Always check the unit before you agree to a rate. Our converter always shows the rate "per 1,000 FCFA".

• To change naira into CFA, you pay the changer's selling rate (the higher number).

• To change CFA back into naira, you get the buying rate (the lower number).

• The gap between the two is the changer's margin.

You will see more than one rate, and they are all real. They just mean different things.

• Market mid-rate: the midpoint between buying and selling prices on the international market. Websites and apps use it. Nobody changes cash at exactly this rate.

• Official rate (Nigeria): the rate the Central Bank of Nigeria publishes daily. Its list includes a CFA row.

• Street cash rate: what a bureau de change or a cash changer gives you for notes. It includes the changer's margin and can change from one day to the next, and from one changer to the next.

• Euro to CFA: fixed at 655.957. If you hold euros, this is the one rate that never moves.

Our street rate is entered by hand by Beninfo247 and shows the date it was set. When it is more than 7 days old, the converter greys it out and warns you. Treat it as a guide and ask your changer for their rate before you hand over any money.

A few simple habits protect you, whatever amount you are changing.

1. Check today's rate in the converter before you go, so you know what a fair offer looks like.

2. Ask for the rate per 1,000 FCFA, and ask how much you will receive in total before you hand over your money.

3. Prefer a bank or an established bureau de change with a fixed office. City Boy lists currency exchange places in Cotonou on a map.

4. Count the notes in front of the changer, before you leave the counter.

5. Do not change large sums in the street or in public view. Split big amounts if you can.

6. Keep the receipt when one is given.

Nigeria and Benin are both ECOWAS member states. Under the ECOWAS Protocol on Free Movement of Persons (signed in Dakar on 29 May 1979), a citizen of a member state can visit another member state for up to 90 days without a visa.

• You must enter through an official border post.

• You must carry a valid travel document and an international health certificate.

• To stay longer than 90 days, you need permission from the local authorities.

• Each country can still refuse entry to people its laws class as inadmissible.

If you are moving to Benin to study, see our guide to student accommodation in Benin Republic. Missing home food? Here are the Nigerian restaurants in Cotonou.

Is the CFA in Benin the same as the CFA in Cameroon? No. Benin uses the West African CFA franc (XOF), issued by the BCEAO. Cameroon uses the Central African CFA franc (XAF), issued by a different central bank, the BEAC. They are two separate currencies.

Why does my bank or changer give me less than the converter? The market mid-rate has no margin in it. Banks, money apps and changers all add a margin, so you will receive a little less than the mid-rate.

How often are the rates updated? The market rate comes from a free daily feed and shows the date of its last update. The street cash rate is set by hand by Beninfo247, usually weekly, and shows the date it was set.

Can I convert dollars or euros too? Yes. The converter covers the CFA franc, naira, US dollar, euro, Ghana cedi, Canadian dollar and British pound.

Thinking of buying a car in Benin? Read about the car market in Cotonou before you change money for it.