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LOCAL CURRENCY IN GUINEA

Need to know how much is your money worth in Guinea? The currency used in Guinea is called Franc.

The Guinean Franc is issued and managed by the Central Bank of the Republic of Guinea. To find out the current currency exchange rates for Franc to other major currencies of the world, click on foreign currency rates.

Guinean Currency Information
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The currency used in Guinea is called as the Franc. This currency is denoted with the currency sign FG and the ISO 4217 Code for the Guinean Franc is GNF. The Franc, is the official currency of the Guinea . It is divided into 100 smaller units called centime.

The constitution of Guinea provides that the Guinea government shall have the power to print the Guinean Franc and centime coins to be used as a legal tender in Guinea. The Guinean Franc bank notes and Centime coins are both designated as "legal tender" in payment of debts.

The Guinean Franc bill uses the decimal system, consisting of 100 equal units.

The symbol FG, usually written before the numerical amount, is used for the Guinean Franc.

Currently printed bank notes denominations are 100, 500, 1000, 5000, 10,000 francs 25, 50 francs and the coins are minted in the denominations of 1, 5, 10, 25, 50 francs .

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How Does Balance of Trade and Investment Affect the Value of the Guinean Franc
Financial analysts regularly cite the balance of trade and investment in Guinea as the most important influence on the value of the Franc. The difference between what the Guinea exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Franc exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Franc exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Guinean Franc.
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