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Guinea
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The Central Bank of the Republic of Guinea (French: Banque Centrale de la République de Guinée, BCRG) is the central bank of Guinea. It regulates the banking sector in the country and is responsible for ensuring and maintaining price stability. The bank’s current governor is M. Alassane Barry.

Guinea Banks

The commercial banks licensed to operate in Guinea are: Banque Internationale pour l'Afrique en Guinee, International Commercial Bank (ICB), Banque Islamique de Guinée (BIG), Banque Internationale pour le Commerce et l’Industrie de Guinée (BICIGUI), Société Générale de Banque en Guinée (SGBG), L’Union Internationale de Banque en Guinée (UIBG), Banque Populaire Maroco-Guinéenne (BPMG) and Ecobank.

Currency

The Guinean franc (symbol: FG/FR/GFr, code: GNF) is the official currency of the Republic of Guinea. It is subdivided into 100 centimes. Banknotes currently in circulation are 100, 500, 1000, 5000 and 10,000 francs whereas the circulated coins are 1, 5, 10, 25 and 50 francs.

The inflation rate in 2009 was 9%. Currency depreciation is a concern. The Guinea franc was trading at 2550 to the U.S. dollar in January 2005. It hit 5554 to the U.S. dollar by October 2006. Currently, the Guinean franc per US$ rate is 5050 (2010).


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