Banking, money and payments in Guinea for expats

The Guinean franc and the official exchange rate

The national currency is the Guinean franc (GNF), issued by the Central Bank of the Republic of Guinea (BCRG). Reintroduced in 1985, it circulates mostly as banknotes: according to Wikipedia, common notes range from 100 to 20,000 francs, and the smallest note actually in use is the 500. French official advice notes that the franc can only be obtained locally, so there is no point trying to buy it before you leave.

The BCRG publishes a daily reference rate for the main currencies. On 8 October 2026 it stood at:

• 1 euro = 9,831.64 GNF;
• 1 US dollar = 8,796.31 GNF;
• 1 pound sterling = 11,626.09 GNF;
• 1,000 CFA francs (XOF) = about 14,996 GNF.

These are reference rates: exchange bureaus and banks add their own margin. For budgeting, assume a slightly less favourable rate than the BCRG’s and look up the day’s list on bcrg-guinee.org before any large transaction.

Cash, cards and ATMs

According to the French foreign ministry, international bank cards are accepted only in major hotels and a few shops in Conakry. Cash withdrawals in Guinean francs are possible at ATMs in the capital and the main towns. The UK Foreign Office is more cautious: ATMs exist but are unreliable and only dispense small amounts.

• bring cash in euros or dollars, in recent notes in good condition, to change locally;
• carry a back-up card on another network or from another bank;
• withdraw during the day, ideally from ATMs inside a bank branch or hotel;
• tell your bank about the trip and check your foreign withdrawal limits;
• split your cash and keep it out of sight, as both embassies advise.

For a longer stay, paying for accommodation by transfer or card where possible avoids carrying large sums. We offer furnished apartments in Conakry for stays from a few nights to several months, with payment terms set out at booking.

Changing money: where and how

According to the BCRG, the Guinean foreign exchange market is made up of the Central Bank, licensed commercial banks, licensed exchange bureaus and any entity it authorises. For individuals, that leaves two legal options: a bank counter or a licensed exchange bureau.

Avoid street money changers. The UK Foreign Office describes street exchange as illegal and says offenders have been detained. Informal changers are nonetheless visible in some markets: the better rate is not worth the legal risk or the risk of theft.

Bringing currency in and taking it out

Border rules deserve attention, and the two official sources do not give exactly the same figures:

• the UK Foreign Office says there is no limit on entry, but on departure you may not take out more than 100,000 GNF, or more than USD 5,000 or the equivalent in euros;
• the French foreign ministry gives the same 100,000 GNF exit limit and states that amounts above USD 10,000 or EUR 10,000 must be declared;
• Paris reports that French travellers have been held at the airport for breaking these rules.

In practice: declare significant amounts of currency on arrival, spend or change back your Guinean francs before you leave, and keep your exchange receipts. Given the gap between the two advisories, stick to the lower ceiling and ask your embassy before leaving with a large sum.

The banks in the market and what has changed

The BCRG’s list of licensed institutions, published in March 2023, counts around twenty banks, many headquartered in Kaloum. Several names have changed in recent years, which can confuse newcomers:

• BICIGUI, formerly a BNP Paribas subsidiary, was taken over by the Vista group and renamed VistaGui in July 2021; combined with Vista’s existing bank, the deal created the country’s largest banking group, according to its management;
• Société Générale Guinée was sold to the Ivorian Atlantic group (AFG Holding), which completed the purchase on 11 August 2025; it has traded as AFG Bank Guinée since 22 December 2025, with no effect on existing contracts according to its statement;
• Ecobank Guinée, Orabank, UBA, Access Bank, Coris Bank and BCI also appear on the BCRG list.

A local account is only worth opening for a stay of several months or for local business activity: each bank sets its own requirements, usually a passport, residence permit and proof of address. For a short trip, an international card and cash are usually enough, and the paperwork of a local account is rarely worth it.

Orange Money and mobile payments

For many Guineans the mobile wallet is the everyday way to pay: transfers, payments in shops, service payments and airtime. Orange Money leads, backed by Orange Guinée’s market share. In December 2025, BCI became the 17th bank connected to its bank-to-wallet service, available through the Max it app or by dialling *144*5#, according to Guinee7.

MTN’s former subsidiary, taken over by the State and now Areeba Guinée, has been fully state-owned since a December 2025 decree, according to the economy ministry. If you were counting on the former MoMo service, check what is available today. To open a wallet you need a SIM card registered in your name with your passport.