Changing Money on the Black Market in Burundi
Posted: September 4 2023 | Tagged: Burundi
It doesn't make sense to use ATMs in Burundi because the bank rate is so low, so it is best to change money on the black market.
Here I describe the best way for changing your US Dollars to Burundi Francs.
Here I describe the best way for changing your US Dollars to Burundi Francs.
What is the Burundi franc black market rate
The Burundi franc black market rate is much higher than what is offered by the banks and money changers.
The bank rate for the dollar when I was there, according to Google was 2800 BFr. At a licenced money changer, you could get 2900 BFr. But on the black market, you could get between 3800 BFr and 4000 BFr. Quite a sizeable difference don't you think?
The bank rate for the dollar when I was there, according to Google was 2800 BFr. At a licenced money changer, you could get 2900 BFr. But on the black market, you could get between 3800 BFr and 4000 BFr. Quite a sizeable difference don't you think?
In Burundi, there is a shortage of foreign currency, namely the US Dollar and certain services and products can only be bought with the USD so people will pay a premium for getting their hands on them.
So the black market rate is much higher than the official rate.
Of course changing money on the black market is illegal.
So the black market rate is much higher than the official rate.
Of course changing money on the black market is illegal.
Where to change money on the black market in Burundi?
So, as a tourist, where can you go to change your money on the black market?
Your best option is to get the hotel to organise it. They make a call, and a guy will turn up, and you make the transaction. You get better rates for 100 USD bills.
I also changed Euros at a store in Gitega. And I wasn't even asking. The owner simply suggested that if I needed to, she could change. Real cloak and dagger stuff.
Your best option is to get the hotel to organise it. They make a call, and a guy will turn up, and you make the transaction. You get better rates for 100 USD bills.
I also changed Euros at a store in Gitega. And I wasn't even asking. The owner simply suggested that if I needed to, she could change. Real cloak and dagger stuff.
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