Guinean Franc
Franc guinéen
Currency Code
GNF
ISO 324
Symbol
GNF
Native: FG
Decimal Digits
0
Rounding: 0
Countries
GN
Using this currency
Currency Units
Major Unit
Name: franc
Symbol: FG
Minor Unit
Name: centime
Symbol:
Value: 0
Banknotes
Frequently Used
100 FG500 FG1000 FG5000 FG10000 FG20000 FG
Rarely Used
25 FG50 FG
Coins
Frequently Used
1 FG5 FG10 FG25 FG50 FG
Plural Forms
English Plural
Guinean francs
Native Plural
Francs guinéens
Overview
The Guinean Franc is the currency of Guinea, managed by the Central Bank of Guinea. It has experienced significant volatility due to political instability and economic challenges, despite the country's rich mineral resources.
Economy
- Guinea is a member of AU, ECOWAS, OIC, Non-Aligned Movement.
- Main industries include: Bauxite, Gold, Diamonds, Iron ore, Light manufacturing, Agricultural processing.
- Guinea is part of the World Trade Organization.
- Imports are petroleum products, metals, machinery, transport equipment, textiles, grain.
- Major exports include bauxite, gold, diamonds, coffee, fish, agricultural products.
- GDP: $19.1 billion (2023 est.).
- GDP per capita: $1,429 (2023 est.).
- Unemployment rate: 2.7% (2017 est.).
- Inflation rate: 12.9% (2023 est.).
- Main trading partners: China, India, United Arab Emirates, Spain, Belgium, Ireland.
- Trade agreements: ECOWAS, African Continental Free Trade Area, EU Economic Partnership Agreement.
History
- Previous currencies used: CFA franc, French franc.
- The Guinean franc was introduced in 1959 after independence from France, initially replacing the CFA franc. Guinea opted out of the CFA franc zone to maintain monetary independence.
- 1959: GNF introduced, replacing CFA franc
- 1960: Central Bank of Guinea established
- 1985: Economic reform program launched
- 1996: Currency reform and new banknotes
- 2008: Military coup and economic instability
- 2021: Military coup and economic uncertainty
- Exchange rate peg: Free floating.
General Information
- ISO 4217 Code: GNF
- Symbols: GNF/Fr
- Currency Subunits: 100 centimes
- Central Bank: Central Bank of Guinea
- Monetary Policy: Flexible exchange rate with limited intervention capacity. Focus on maintaining monetary stability amid political and economic challenges.
- Bills: 100 GNF, 500 GNF, 1000 GNF, 5000 GNF, 10000 GNF, 20000 GNF
- Coins: 1 franc, 5 francs, 10 francs, 25 francs, 50 francs
- USD Exchange Rate: Variable (approximately 8600-8700 GNF per USD)
- Pegged To: None (Floating)
- Capital: Conakry
- Population: 13,607,249 (2023 est.)
- Area: 245,857 km²
- Languages: French (official), Pular, Maninka, Susu, Other native languages
- Time Zones: UTC+0 (Greenwich Mean Time)
- Government Type: Presidential republic (under military transitional government)
- Head of Government: Transitional President
- Independence: October 2, 1958 (from France)
- Ethnic Groups: Fulani 33.4%, Malinke 29.4%, Susu 21.2%, Guerze 7.8%, Kissi 6.2%, Toma 1.6%, Other 0.4%
- Religions: Muslim 89.1%, Christian 6.8%, Animist 1.6%, Other 0.1%, None 2.4%
- Literacy Rate: 30.4% (2014 est.)
- Transport: Conakry International Airport, limited road network, railway for bauxite transport, Atlantic ports
- Communications: Limited telecommunications, 35% internet penetration, mobile network expansion
- Energy: Hydroelectric 67%, Thermal 33%, vast hydroelectric potential
- Countries Using This Currency: Guinea
- Data Sources: Central Bank: Central Bank of Guinea (bcrg-guinee.org), Economic Data: National Institute of Statistics Guinea, World Bank, IMF, Trade Data: Guinea Customs, Demographic Data: National Institute of Statistics Guinea, Geographic Data: National Directorate of Meteorology, Historical Data: Central Bank of Guinea archives
- Last Updated: 2025