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Cameroon Currency: What's the Currency of Cameroon?

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-- Cameroon Currency --

What is the currency of Cameroon? The official Currency of the Republic of Cameroon is the CFA Franc. The currency, like all currencies, is available in both paper notes and coins.

Notes include 500, 2000, 5000 and 10000frs cfa. Coins include 5, 10, 25, 50 and 100frs cfa.

It is worth noting that Cameroon is part of Central African Monetary and Economic Union (Communuate Economiqque et Monetaire de L'Arique Centrale - CEMAC) which is a group of five countries in Central Africa.

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Exchange and exchange Rates

Cameroon currency is exchanged with many currencies. However, it is important to note that Euro is the most easily exchangeable currency in Cameroon. US Dollars comes next.

You will most obviously find places to exchange money in big cities like Douala and Yaounde, particularly at the Airport. There are private individuals who would exchange money 'behind the counters.' This is very common but beware. It may get you into trouble.

Exchange rates fluctuates from time to time.

• 1 US dollars is approximately 500frs cfa
• 1 British pound is approximately 800frscfa
• 1 Euro is approximately 650frs cfa

These rates are just estimated rates. It's possible you can get less but these figures should give you an idea of what you should expect.

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Circulation and ATM Machines

Many people in Cameroon safe and retrieve their money from banks and credit Unions.

ATM machines are spreading, and you will most probably find one at the airport and in major banks, especially in major cities. Thus, withdrawing money has become a lot easier.

It's possible to withdraw money using your visa cards from ATM. You shouldn't have a problem using your cards from abroad, but inform your bank first and let them know before hand that you will be using your bank cards in the country. Some banks still block transactions.

Another way you can retrieve money is to send money from your home country to an agency, such as Western Union and then retrieve it when you arrive the country.

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Daily Budget and expenditures in Cameroon

What is the daily budget in Cameroon? The daily budget in Cameroon differs from persons to persons and from places to places. Many factors are taken into consideration when calculating daily budget. For instance, your lifestyle and the place you find yourself in.

Many Cameroonians live on less than a dollar a day but this is below the poverty line.

If you are visiting Cameroon, budget well. Life is becoming very expensive, especially in the economic capital, Douala, one of the most expensive cities in Africa and the world as a whole.

That said, a daily budget of between 20-50 dollars is Ok for an average person.

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