Why conversion is necessary
US stocks are priced and traded in US dollars. When you deposit XAF via Mobile Money, those funds must be converted to USD before buying any shares. When you withdraw, your USD holdings are converted back to XAF.
The Central African Franc (XAF) is pegged to the Euro at a fixed rate of 655.957 XAF per EUR. Against the USD, the rate fluctuates daily with global currency markets. As of early 2026, 1 USD ≈ 600–640 XAF.
How Amarah calculates the rate
Amarah uses the live mid-market rate (the midpoint between the buy and sell rates in the institutional foreign exchange market) as the basis for conversion, then applies a conversion margin. This base rate can be checked independently.
The conversion margin is a separate fee, shown before you confirm: 2% of the converted amount at the rates shown in October 2026, on deposits and on withdrawals. It comes on top of the deposit or withdrawal fee. You see the exact USD amount you will receive before confirming any deposit.
A worked example
Illustrative example, using the rates shown in October 2026. Say you deposit 50,000 XAF when the market rate is 625 XAF per USD:
- 50,000 XAF ÷ 625 = 80.00 USD at the market rate
- Conversion margin (2%): 1.60 USD, leaving 78.40 USD
- Deposit fee (3.5%): 2.74 USD, leaving 75.66 USD credited to your Amarah account
- When you place a buy or sell order, a 2% trade commission (minimum $0.15 per order) is deducted from the order value
The conversion on withdrawal
When withdrawing, the process reverses. Suppose your account has 80 USD and you want to withdraw everything:
Withdrawal fee (2.5%): 2.00 USD, leaving 78.00 USD. Conversion margin (2%): 1.56 USD, leaving 76.44 USD. At 625 XAF per USD, about 47,775 XAF is sent to your MoMo wallet.
Currency risk: what to know
Because your investments are held in USD, the XAF value of your portfolio fluctuates with the XAF/USD exchange rate even if your stocks don't move. If the USD strengthens against XAF, your portfolio gains more in XAF terms. If the USD weakens, it loses some value in XAF terms.
Historically, the USD has been a strong store of value relative to many African currencies. However, this is not guaranteed and should be considered part of your overall investment risk.
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