What is money called in Bora Bora?

What is money called in Bora Bora?

Bora Bora, the stunning island located in French Polynesia, uses the French Pacific Franc (CFP) as its official currency. The CFP franc is abbreviated as XPF and serves as the legal tender for the island’s residents and tourists alike. The CFP franc is also used in other French territories in the Pacific Ocean, including New Caledonia, Wallis and Futuna, and French Polynesia as a whole. While the CFP franc may not be as widely recognized as some other currencies, it is readily accepted in Bora Bora and can be exchanged at local banks and currency exchange facilities.

FAQs about money in Bora Bora

1. Can I use other currencies in Bora Bora?

Yes, while the CFP franc is the official currency, some establishments may accept major currencies like the US dollar or the Euro. However, it is advisable to exchange your currency into CFP francs to avoid any potential issues or unfavorable exchange rates.

2. Where can I exchange my currency into CFP francs?

You can exchange your currency into CFP francs at local banks, hotels, or currency exchange offices. It’s recommended to compare exchange rates and fees to ensure you get the best value for your money.

3. Are credit cards widely accepted in Bora Bora?

Yes, most hotels, resorts, restaurants, and shops in Bora Bora accept major credit cards. However, it’s always a good idea to carry some cash, especially for smaller establishments or local markets where card payments may not be accepted.

4. Can I withdraw cash from ATMs in Bora Bora?

Yes, there are ATMs available in Bora Bora where you can withdraw cash using your debit or credit card. Keep in mind that some ATMs may charge withdrawal fees, so it’s advisable to check with your bank regarding any potential fees or limits.

5. Is it customary to tip in Bora Bora?

Tipping is not generally expected in Bora Bora or French Polynesia as a whole. However, if you receive exceptional service, a small tip can be appreciated. It’s always a good idea to check if a service charge is already included before deciding whether to tip or not.

6. What is the average cost of living in Bora Bora?

Bora Bora is known for its luxury accommodations and high-end experiences, so the cost of living tends to be higher compared to other destinations. Prices for food, drinks, and activities are generally on the higher side, but it’s possible to find more affordable options if you explore local eateries and markets.

7. Are there any restrictions on taking money in or out of Bora Bora?

There are no specific restrictions on bringing money into or out of Bora Bora. However, it’s always advisable to check with the customs regulations of your home country and the destination country to ensure compliance with any currency declaration requirements.

8. Can I use traveler’s checks in Bora Bora?

Traveler’s checks are becoming less common and may not be widely accepted in Bora Bora. It’s recommended to use more convenient methods such as credit cards or cash withdrawals from ATMs.

9. Do I need to carry a lot of cash in Bora Bora?

While it’s a good idea to carry some cash for small purchases or establishments that only accept cash, it’s not necessary to carry large amounts. Most places in Bora Bora accept credit cards, and ATMs are also available for cash withdrawals if needed.

10. Are there any currency exchange facilities at Bora Bora’s airport?

Yes, there are currency exchange facilities at Bora Bora’s airport where you can exchange your currency into CFP francs. However, the rates at the airport may not be as favorable as those at local banks or exchange offices.

11. Is it advisable to pre-book currency for Bora Bora?

While it’s not necessary to pre-book currency, it can be a convenient option to ensure you have some cash upon arrival. Many banks and currency exchange services offer online ordering and home delivery options for foreign currency.

12. What is the currency exchange rate for the CFP franc?

The exchange rate for the CFP franc varies and is influenced by several factors, including international currency markets. It’s advisable to check the latest exchange rates before traveling to Bora Bora to have an idea of the value of your currency in relation to the CFP franc.