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| Country Guide > Africa > Mali |
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Money Currency CFA (Communaut Financiaire Africaine) Franc (CFAfr) = 100 centimes. Notes are in denominations of CFAfr10,000, 5000, 2000 and 1000. Coins are in denominations of CFAfr500, 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. Currency exchange Possible at main banks in Bamako, but this can be a slow process and exchange rates are often out of date. Credit & debit cards Diners Club, MasterCard and Visa are accepted in two hotels in Bamako. Cash advances on credit cards are available at only one bank in Mali, the BMCD Bank in Bamako, and only with a Visa credit card. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. Travellers cheques Can be exchanged at banks. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in US Dollars or Euros. Currency restrictions The import and export of local currency is unlimited. The import and export of foreign currency is unlimited provided amounts exceeding CFAfr25,000 are declared. Exchange rate indicators The following figures are included as a guide to the movements of the CFA Franc against Sterling and the US Dollar:
Banking hours Mon-Thurs 0730-1200 and 1315-1500, Fri 0730-1230. |