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.
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.
$1, $5, $10, $20, $50, $100
1c, 5c, 10c, 25c, 50c
The Guinea francis the currency of the West African country of Guinea. It was introduced in 1959 to replace the CFA Franc BCEAO.
FG (possibly also Fr or GFr)
100, 500, 1000, 5000, 10,000, 20,000 francs
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.
Send money from USD to GNF
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
1 USD =
US Dollar to the Guinea Franc for the last 10 months
1 USD =
US Dollar to the Guinea Franc for the last 10 years
1 USD =
Market rate for common transfer amounts USD to GNF
Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.