Where can money be exchanged in Central Africa?
If you thought that sending local currency to Central African Republic recipients was a good idea this can be very problematic. Not only is sending your own foreign currency to another country unsafe, the recipient could also have a difficult time exchanging it. Currency can only be exchanged at banks which are in Berberati or Bangui so if your recipient does not live in either area they will have to travel. So instead many people choose to transfer money to Central African Republic recipients.
CFA Franc is tied to the Euro in Central Africa
Before you arrange a money transfer to Central African Republic recipients you might be interested to know that the countrys unit of currency, the Communaute Financiere Africaine franc is always tied to the Euro. This means that regardless of the rate of exchange the rate between these two currencies will always be the same.
Should you check the currency rate in Central Africa?
Anytime that you set up a currency transfer to Central African Republic recipients you should check the currency rate. You may find that you are able to transfer money when the currency rate Central African Republic currency is following is good. If so you will make sure that your recipient gets more money in their hand after the transfer has taken place, which is good news for everyone.