What Guinean franc actually arrives in Guinea when someone sends Australian dollars, at the live mid-market rate. We explain the process; we never recommend a provider.
| They send (AUD) | You receive at mid-market (GNF) |
|---|---|
| 500 AUD | 3,068,500 GNF |
| 1,000 AUD | 6,137,000 GNF |
| 2,000 AUD | 12,274,000 GNF |
| 5,000 AUD | 30,685,000 GNF |
Mid-market equivalents, not transfer quotes - the sender’s provider deducts its margin and any fees before the money reaches you. STRUCK 11:00 AEST · TUE 13 OCT.
A West African country shaped like a crescent, Guinea holds some of the planet's biggest bauxite reserves and the highlands where the Niger, Senegal and Gambia rivers all begin their long journeys to the sea.
Three equal vertical bands of red, yellow and green, the Pan-African colours in the vertical arrangement of the French tricolour. The constitution states just that much, three vertical and equal bands of red, yellow and green, and assigns them no meaning. They are conventionally read as red for sacrifice and labour, yellow for the sun and mineral wealth, and green for the country's vegetation.
A continent pretending to be a country - Australia is the only nation that fills an entire continent, with most of its 27 million people clinging to the coast while the red-dirt interior does its own thing.
A blue field with the Union Jack in the canton, a large white seven-pointed Commonwealth Star below it, and the five white stars of the Southern Cross at the fly. Six of the big star's points stand for the states and the seventh for the territories; the Southern Cross marks Australia's place in the southern sky.
Guinea left the CFA franc zone soon after independence and kept a franc of its own, so it prices quite differently from most of its neighbours despite the shared currency name. The unit is small, meaning ordinary transfers convert into six- and seven-figure sums and coins play no practical role.
The exchange rate is set on the sending side - by the service the sender chooses in Australia - so the most useful thing a receiver can do happens before the transfer: share the live mid-market rate on this page so the sender can judge the margin in their quote. How the money arrives in Guinea determines any local receiving charges - bank-to-bank transfers can pass through intermediary banks that deduct handling fees.
Sending rather than receiving? The sender’s view of this corridor covers the same rate from the other side. The AUD/GNF converter page handles any amount. Receiving money from overseas explains the process end to end.
A Guinean mobile money account is confined by regulation to Guinea and to Guinean francs. Decision D/2015/003/CAM of 31 March 2015 provides that, absent an express derogation from the Banque Centrale de la Republique de Guinee, the activities of electronic money institutions are circumscribed to the geographic limits of Guinea and transactions must be carried out only in Guinean francs. A wallet there is not, by default, a destination a sender abroad can address.
The route the law does prescribe runs through a bank. The exchange regulation enacted as Loi L/2000/006/AN provides that any financial or commercial arrangement between a resident and a non-resident giving rise to a settlement between Guinea and abroad must compulsorily transit through a bank of the place, denominated in Guinean francs or a convertible currency quoted by the Central Bank. Settlements arriving from abroad are realised by repatriation of currency, which is either sold on the exchange market or to the Central Bank, or paid into a foreign-currency account opened with such a bank.
The wallet itself is an identity-bearing instrument. The 2015 decision requires that electronic money be incorporated only in an instrument permitting identification of the holder, obliges the institution to keep traceability of loads and receipts for ten years at the Central Bank's disposal, and caps both the value held on an instrument and its daily and monthly payment ceilings at amounts the Governor fixes by instruction. Redemption of unused value may be taken in cash, by cheque or by transfer to an account, at the holder's choice.
How much Guinean franc will I receive in Guinea?
A little less than the mid-market figures above. The service the sender uses in Australia sets the rate and fees; local receiving banks in Guinea can also apply their own charges depending on how the transfer arrives.
The sender asked for my details - what will they need?
Whatever their transfer service asks for on the receiving side - typically your full legal name and local bank account details in Guinea. Give the name exactly as your bank records it; mismatches are the most common reason a transfer is delayed.
Why did I receive less than the rate on this page suggests?
A quote is the mid-market rate with the provider’s margin taken out of it. Because that margin is expressed in the rate rather than itemised, it is easy to miss and is usually the bigger half of what a transfer costs. On a bank-to-bank transfer an intermediary bank can also deduct a handling charge in transit.