Mali - Money
Currency & Money
CFA (Communauté Financière Africaine) Franc (XOF) = 100 centimes. Notes are in denominations of XOF10,000, 5,000, 2,000 and 1,000. Coins are in denominations of XOF500, 200, 250, 100, 50, 25, 10 and 5.
Mali is part of the French Monetary Area. Only currency issued by the Banque des Etats de l'Afrique de l'Ouest (Bank of West African States) is valid; currency issued by the Banque des Etats de l'Afrique Centrale (Bank of Central African States) is not. The CFA Franc is tied to the Euro.
Credit cards are very little used in Mali's cash economy - and are only accepted at major banks, airports, hotels and restaurants. Visa is the main card accepted; MasterCard and American Express can sometimes be used.
Can be exchanged In Bamako. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in US Dollars or Euros.
There are no restrictions on the import or export of local or foreign currency, but amounts exceeding XOF25,000 should be declared.
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