In January 2019 at the Togo-Benin Border, our first contact, the taxi driver showed us the boundaries when we were approaching Anehoe, the Togo Township, that shares border with Hilla Kodji/ Benin.
Anehoe is a border town between Togo and Benin. In order to establish a rapport, we decided to buy food at this 'chopbar' a local eatery at the main car station. The traders here, trade in the three currencies of West Africa (Naira, CFA, Ghana Cedi) so after eating we asked the her for our bill and she took sometime to convert the cost in the three currencies because she did not know which currency we had.
In CFA , she says it cost trois mille sept cent / 3700 CFA (around $6.14). So we tried to calculate the cost with the exchange rate, which is 8 Ghana cedis to 100 CFA.
Currently the Naira is in the lead of the other three currencies they trade in at the border.
1000 naira is cfa 1500, swindlers could equate 1000 naira to 1000 Cfa which affects the buyer. Whereas, no one wants to be cheated on, everybody wants a fair trade and this act affects business negatively.Upon request she displayed the various currencies she had at her disposal and also points to the fact that, they have “Baba’s” (the name given to black market money traders) here so they don’t find it difficult in interchanging the various currencies for trading.