Money Management

 

What currency is used in your host country?

·     West African Franc (CFA)

What is the current exchange rate with the U.S. dollar? How stable is it? Is it appreciating or depreciating?

·     1USD = 443.67 CFA

·     It has been stable for almost a year

Are student discounts widely available in the host country? What sort of proof do you need to receive them?

·     Not sure

What is the average cost of living? (e.g. How much does an average lunch cost?) What do you imagine your weekly budget will/should be?

·     Totally depends on how you want to live

·     Changes according to bartering

Where do locals or students who have gone to the host country before you shop, eat out, and find entertainment?

·     Toubab bars

·     Cultural events (dance/music/films)

·     Beaches

·     Islands

What is the best way to access money while you are in your host country? Will you have to pay a transaction fee for converting money or withdrawing from an ATM? Are international ATMs available in your host city?

·     There are a number of ATM machines in Dakar, but they are rare elsewhere in Senegal.

·     Travelers' Checks: Dakar is the preferred place to cash travelers' checks in Senegal. Tourists are advised to bring travelers checks in French Francs to avoid any additional exchange rate charges.

·     Credit Cards: All major credit cards are widely used in hotels and restaurants throughout Senegal. But in some of the more remote regions as well as at basic guesthouses, credit cards are not always accepted.

Are your credit cards widely accepted in the host country and city?

·     Yes

Are traveler's checks widely accepted in the host country?  Is there an American Express or Thomas Cook office in your host city?

·     Yes

Will it be worthwhile to open a checking account in the host country?

·     No