How to exchange money in Africa
The four things that decide what you pay
1. Which currency you bring
Euros are the strongest option across North Africa and the CFA franc zones, given the euro pegs and European trade links. US dollars are the safer default in East and Southern Africa. Pounds sterling are widely exchangeable but usually at a slightly worse spread than euros or dollars.
2. The condition of your banknotes
This catches out more travellers than anything else. Across much of Africa, worn, torn, marked or older-series US notes are refused or exchanged at a markedly worse rate. Small denominations often get a poorer rate than 50s and 100s. Bring clean, recent, large notes.
3. Where you exchange
Airport kiosks consistently offer the worst rates. Banks and licensed bureaus in town are better. Hotel desks sit in between and charge for the convenience. The reference rates on this site are mid-market quotations — the rate you are offered will always be worse, and the size of that gap is what you are shopping for.
4. Whether the currency is closed
If your destination uses a closed currency, you cannot buy it in advance and you face limits taking it home. That changes the whole plan: exchange smaller amounts as you go, and keep receipts.
Cards, ATMs and mobile money
Mobile money is dominant in East Africa
In Kenya, Tanzania, Uganda and Rwanda, mobile money — M-Pesa being the best known — is used for everything from taxi fares to market stalls, and is often accepted where cards are not. Visitors can usually register with a local SIM.
Card acceptance varies enormously
Good in South African cities, Moroccan and Tunisian tourist areas, Nairobi, Cairo and Lagos. Patchy elsewhere, and unreliable in Libya, Sudan and much of the Sahel. Cash is still the default across most of the continent.
Watch for dynamic currency conversion
If an ATM or card terminal offers to charge you in your home currency instead of the local one, decline. The exchange rate applied is set by the terminal operator and is almost always worse than your bank’s.
ATM withdrawal limits are often low
Per-transaction caps are common and each withdrawal usually carries a fixed fee, so several small withdrawals can cost significantly more than one larger one where the limit allows.
Sending money rather than carrying it
For remittances the calculation is different. The headline fee matters less than the exchange rate margin built into the transfer — a “zero fee” transfer with a 4% rate markup costs more than a $5 fee at the mid-market rate. Compare the amount that actually arrives, not the fee.
Mid-market reference rates for every African currency are on this site: use the converter or the individual pair pages to see what a fair rate looks like before you accept a quote.
Frequently Asked Questions
Where is the best place to exchange money in Africa?
Licensed bureaus and banks in town almost always beat airport kiosks and hotel desks. Compare the rate you are offered against the mid-market reference rate before accepting.
Should I bring US dollars or euros to Africa?
Euros generally work better in North Africa and the CFA franc zones; US dollars are the safer default in East and Southern Africa. In both cases bring clean, recent, large-denomination notes.
Why were my dollars refused?
Worn, torn, marked or older-series US banknotes are frequently rejected across Africa, and small denominations often receive a worse rate than 50s and 100s. This is standard practice, not a scam.
Can I use my credit card in Africa?
In South African cities, Moroccan and Tunisian tourist areas, and major cities like Nairobi, Cairo and Lagos, yes. Acceptance thins out quickly elsewhere and is unreliable in Libya and Sudan, so carry cash as well.
What is dynamic currency conversion and should I accept it?
It is when an ATM or terminal offers to bill you in your home currency. Decline it — the rate is set by the terminal operator and is almost always worse than your own bank's rate.