The Currency of Africa – What is the African Currency?
The currency of Africa is not as simple as you might think; a dollar isn't always a dollar. When it comes to handling your money in Africa, there are a few things you have to keep in mind.
The Currency of Africa – What is the African Currency?
Posted by Cherene Pienaar on 06 Dec 2011, 13:10
Categories: Travel News
Africa is an enormous continent filled with diverse countries, making it impossible to explore its entirety in just one visit. Each country has its own unique and independent culture and that includes their monetary systems. For this reason, deciding how to handle your money in Africa can be tricky at best and downright dangerous at worst. But if you need to know what is the African currency, then a few guidelines can make your trip a little more secure and guarantee fewer headaches.
Keep this in your wallet
1. Each African country has its own currency system.
Often these currencies have familiar names like shillings, francs and dollars. This is a result of Africa’s colonial history during which the governmental powers from other countries around the world imposed their monetary system on the local people. Though colonial powers have now largely withdrawn from Africa, many of the monetary naming conventions have stuck. However, do not let these familiar names lead you to believe that the currency of Africa is in any way connected to the British pound or the American dollar.
2. The most widely accepted form of cash is the U.S. dollar.
The British pound and the Euro are also commonly accepted. This holds true throughout much of the continent. The dollar is so much preferred, however, that some destinations like the national parks will only take payment in this form. When you arrive at the airport in Africa make the time to visit an ATM or bank to exchange some cash for the local currency. This is a safe, secure way to make a currency exchange and get some of the local currency in your pocket for tips and small incidental purchases. Whatever you do, resist the calls of the street vendors who offer to change your U.S. dollars for the local currency. The rates are generally not favorable and doing business with these individuals may actually be illegal.
3. Cash is the simplest answer
You can save a great deal of financial headache by planning and paying for much of your vacation expenses in advance. Before you even arrive on the continent your flights and hotels should be booked and paid. If you have the option of purchasing safaris and other vacation add-ons prior to arrival, then do so. Bring proof of payment and reservation numbers with you to minimize hassles.
Come into Africa with plenty of U.S. dollars, British pounds or Euros. This may be in cash or travellers checks. Many larger retailers, hotels and restaurants will also accept credit and debit cards, but do not count on being able to use a card everywhere you go. Many places do not take them at all and some require a hefty minimum purchase. Cash and travellers checks are often the easier solution.
The currency of Africa varies from one country to the next, but the ability to use sound foreign currencies is relatively widespread. When it comes to answering the question what is the African currency, U.S., British or European cash is the simplest answer.
