Where and How to Exchange Currency in Cotonou: Bureaus and Rates (2026)
Exchanging foreign currency for CFA Francs (XOF) is one of the very first financial tasks to handle when you arrive in Cotonou. Whether you're bringing Euros, US Dollars, or Nigerian Nairas, knowing the official exchange rate, where the licensed bureaus are, and how to stay safe will save you from excessive fees and scams.
In short: currency exchange in Cotonou (2026)
- Euro / CFA Franc parity: fixed BCEAO peg: 1 Euro = 655.957 FCFA (bank commissions between 1% and 2%).
- Exchanging Naira (NGN): very common at Ganhi market and along the border (Sèmè), with a floating rate driven by the parallel market.
- Best places to exchange: licensed bureaus de change in the Ganhi district (downtown) and the main bank counters.
- Precautions: avoid informal street exchange at night, and always check that 10,000 FCFA notes are genuine.
Here's the complete practical guide to converting your money in Cotonou at the best rate.
1. The local currency: the CFA Franc (XOF)
Benin is part of the West African Economic and Monetary Union (UEMOA). The official currency is the CFA Franc (code XOF), issued by the Central Bank of West African States (BCEAO).
- Notes in circulation: 10,000 FCFA, 5,000 FCFA, 2,000 FCFA, 1,000 FCFA, 500 FCFA.
- Coins in circulation: 500 FCFA, 250 FCFA, 200 FCFA, 100 FCFA, 50 FCFA, 25 FCFA, 10 FCFA, 5 FCFA.
The fixed peg to the Euro
Thanks to the UEMOA zone's monetary agreements, the CFA Franc has a fixed peg to the Euro: 1 EUR = 655.957 FCFA
When you exchange Euros at a bank or a licensed bureau, the reference rate never changes. Only the service commission charged by the establishment (generally 1% to 2%, or a flat fee of 1,000 to 2,500 FCFA per transaction) affects the net amount you get.
2. Where to exchange currency in Cotonou
1. Licensed exchange bureaus (Ganhi & the airport)
The Ganhi business district (downtown) concentrates the official exchange bureaus registered with the Ministry of Economy and Finance.
- Cotonou International Airport: An exchange counter is open when international flights arrive. Handy for getting cash right away, but commissions there are slightly higher than in town.
- Ganhi bureaus (near the Central Market / Carrefour Commercial): Offer the best rates for major currencies (USD, GBP, CAD, CHF) and for the Nigerian Naira.
2. Main bank branches
The head offices and larger branches of banks like BOA (Bank of Africa), Ecobank, Société Générale Bénin, Coris Bank, and NSIA Banque in Ganhi and Cadjèhoun offer exchange service at their counters.
- Advantage: maximum security and an official exchange receipt.
- Drawback: standard banking hours (8:00 AM - 4:30 PM) and possible waiting at the counter.
3. Exchanging Nigerian Naira (NGN) in Cotonou
Because of Cotonou's direct proximity to Nigeria (the Sèmè-Kpodji border is just 30 km away), the Nigerian Naira circulates widely here.
- Where to exchange Naira?: Money changers in Ganhi and the port area handle Naira-FCFA exchange continuously.
- Floating rate: Unlike the Euro, the Naira rate is extremely volatile and tracks the parallel market (black market rate) in Nigeria directly. Always ask at least two bureaus for the day's rate before going through with the transaction.
4. Bank card withdrawals at ATMs
If you're not carrying cash, ATMs are widespread across Cotonou (Haie Vive, Cadjèhoun, Ganhi, Fidjrossè, Erevan supermarkets).
- Cards accepted: Visa and Mastercard (American Express cards only work at a very small number of international hotels).
- Withdrawal limits: ATMs generally dispense up to 200,000 or 400,000 FCFA per withdrawal.
- Fees: Your home bank will apply out-of-eurozone withdrawal fees (a flat fee plus a currency conversion commission).
5. Summary table of exchange options
| Option | Main location | Security | Rate & fees | Best for |
|---|---|---|---|---|
| Licensed exchange bureau | Ganhi / downtown | Excellent | Close to the official rate (1-2% fees) | Euros, Dollars, Nairas |
| Bank branches | Ganhi, Cadjèhoun | Maximum | Official fixed rate + bank fees | Larger amounts |
| ATMs | Supermarkets, Haie Vive | Excellent | International card withdrawal fees | Urgent cash top-up |
| Airport counter | Airport arrivals hall | Good | Slightly higher fees | Late arrival by flight |
6. Safety tips and pitfalls to avoid
- Avoid informal street exchange at night: Don't exchange large sums with unidentified street money changers, especially around the train station or after dark.
- Check your 10,000 FCFA notes: When receiving cash, check the quality of the notes. Badly torn or taped-up notes may sometimes be refused by small shopkeepers.
- Keep your exchange receipts: The receipt issued by the bank or licensed bureau may be requested if you want to exchange your remaining CFA Francs back into Euros before leaving the country.
FAQ: exchanging money in Cotonou
Can I pay directly in Euros or Dollars at shops in Cotonou?
No. The CFA Franc is the only legal currency for everyday payments. Only a few large international hotels and airlines accept direct payment in Euros.
What's the maximum amount of currency you can bring into Benin?
International travelers can enter Benin carrying physical currency. Above the equivalent of 5,000,000 FCFA (about 7,600 Euros), a customs declaration is mandatory on arrival at Cotonou airport.