US Dollar to Guinea Franc Exchange Rate

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= FG 9560.6245

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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

May 15 May 16 May 17 May 18 May 19 May 20 May 21 May 22 May 23 May 24
1 USD = 9455.0000 Inverse: 0.0001 9455.0000 Inverse: 0.0001 9419.5949 Inverse: 0.0001 9441.2868 Inverse: 0.0001 9523.7415 Inverse: 0.0001 9460.0000 Inverse: 0.0001 9455.0000 Inverse: 0.0001 9460.0000 Inverse: 0.0001 9460.0000 Inverse: 0.0001 9460.0000 Inverse: 0.0001

US Dollar to the Guinea Franc for the last 10 months

Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020
1 USD = 9225.0000 Inverse: 0.0001 9030.8590 Inverse: 0.0001 9235.0592 Inverse: 0.0001 9240.0000 Inverse: 0.0001 9425.0000 Inverse: 0.0001 9492.2862 Inverse: 0.0001 9535.0489 Inverse: 0.0001 9422.5000 Inverse: 0.0001 9479.4319 Inverse: 0.0001 9512.6728 Inverse: 0.0001

US Dollar to the Guinea Franc for the last 10 years

May 2010 May 2011 May 2012 May 2013 May 2014 May 2015 May 2016 May 2017 May 2018 May 2019
1 USD = 5046.2554 Inverse: 0.0002 6665.3834 Inverse: 0.0002 6983.1721 Inverse: 0.0001 7091.1750 Inverse: 0.0001 6984.1933 Inverse: 0.0001 7308.7567 Inverse: 0.0001 7344.3251 Inverse: 0.0001 9133.0500 Inverse: 0.0001 9008.8667 Inverse: 0.0001 9245.0000 Inverse: 0.0001

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