US Dollar to Guinea Franc Exchange Rate

Live Rate

= FG 9225.0000

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How can I get the best exchange rate between the US dollar and the Guinean franc?

To get the best exchange rate between the US dollar and the Guinean franc you first need to find out what the mid-market rate of the currency is. You can find this rate here on finder.com or by looking it up on search engines like Google. This is the same rate that banks use when they trade with each other, and you should compare the exchange rates you are offered to this “real” exchange rate.

If you are sending money to family or friends in Guinea, online money transfer services is likely your best option. These services usually offer you better exchange rates than the banks will do, and they also process your transaction faster. You should choose the service provider that offers an exchange rate as close to the mid-market rate as possible, but keep in mind any fixed fees that may be added on top.

US Dollar

The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
Currency:US Dollar
Currency Symbol:$
Sub unit:cents
Bank notes:$1, $5, $10, $20, $50, $100
Coins:1c, 5c, 10c, 25c, 50c

Guinea Franc

The Guinea francis the currency of the West African country of Guinea. It was introduced in 1959 to replace the CFA Franc BCEAO.
Currency:Guinea Franc
Currency Symbol:FG (possibly also Fr or GFr)
Sub unit:centime
Bank notes:100, 500, 1000, 5000, 10,000, 20,000 francs
Coins:1, 5, 10, 25, 50 francs

What affects exchange rates between the US dollar and the Guinean franc?

The Guinean franc is today a free-floating currency that is freely convertible on the global foreign exchange market. The exchange rate between the US dollar and the Guinean franc is therefore subject to the supply and demand for both currencies in the market.

Factors that can affect the exchange rate between the US dollar and the Guinean franc include political and economic developments in both the United States and Guinea, the trade balance between the two countries, political stability in the two countries and elsewhere in the world, and interest rates in both countries.

When interest rates in either the United States or Guinea rise, the exchange rate of the same country’s currency tends to follow. That happens because more foreign investors will find it attractive to buy that currency, place it in a local bank account, and earn interest on the deposit. Demand is thus created in the global marketplace for currency of the country with the higher interest rate, and the exchange rate rises as a result.

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How does the Guinean franc trade against the US dollar historically?

The Guinean franc was introduced in 1985 as the official currency of the Republic of Guinea, formerly known as French Guinea. It replaced the Guinean syli, which had been in use for about a decade before that.

Since 2008, the Guinean franc has gradually been losing value compared to the US dollar. At the height of the US Financial Crisis in 2008, you would need about 4,300 francs to buy 1 dollar. By the end of that year, the exchange rate between francs and dollars changed to about 5,000 francs per dollar. The exchange rate remained steadily at the 5,000-level until the end of 2010, when a new period of sharp decline began for the franc, dropping to about 7,700 francs per dollar by the beginning of 2011.

Between 2011 and 2016, the franc remained relatively stable against the US dollar, changing hands at about 7,000 francs per dollar. In 2016, a government-initiated devaluation of the franc occurred, slashing the value of the franc from 7,000 to about 9,000 francs per US dollar.

Since the most recent devaluation in 2016, the exchange rate between the US dollar and Guinean franc has remained steady at about 9000 francs per dollar.

US Dollar to the Guinea Franc for the last 10 days

Oct 14 Oct 15 Oct 16 Oct 17 Oct 18 Oct 19 Oct 20 Oct 21 Oct 22 Oct 23
1 USD = 9300.7641 Inverse: 0.0001 9246.1712 Inverse: 0.0001 9245.5657 Inverse: 0.0001 9230.0000 Inverse: 0.0001 9230.0000 Inverse: 0.0001 9230.0000 Inverse: 0.0001 9244.1620 Inverse: 0.0001 9237.5000 Inverse: 0.0001 9248.0250 Inverse: 0.0001 9225.0000 Inverse: 0.0001

US Dollar to the Guinea Franc for the last 10 months

Dec 2018 Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019
1 USD = 9143.9299 Inverse: 0.0001 9152.3847 Inverse: 0.0001 9225.0000 Inverse: 0.0001 9163.6297 Inverse: 0.0001 9230.0000 Inverse: 0.0001 9135.2077 Inverse: 0.0001 9193.5220 Inverse: 0.0001 9225.0000 Inverse: 0.0001 9200.3217 Inverse: 0.0001 9234.8100 Inverse: 0.0001

US Dollar to the Guinea Franc for the last 10 years

Oct 2009 Oct 2010 Oct 2011 Oct 2012 Oct 2013 Oct 2014 Oct 2015 Oct 2016 Oct 2017 Oct 2018
1 USD = 4926.6860 Inverse: 0.0002 6741.9314 Inverse: 0.0001 6862.4102 Inverse: 0.0001 7154.9575 Inverse: 0.0001 7026.5353 Inverse: 0.0001 7025.3383 Inverse: 0.0001 7362.1376 Inverse: 0.0001 9088.4825 Inverse: 0.0001 9000.0000 Inverse: 0.0001 9100.0000 Inverse: 0.0001

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