Djibouti REAL ESTATE MORTGAGE LOANS BANKS
Country Djibouti practically consists of the port city of Djibouti. Here live two-thirds of its citizens (which only has half a million) and made nearly all the money. They are made mainly on foreigners (maintenance of ships, the French military, direct financial assistance from abroad), however the monetary unit in its own Djibouti - Djibouti francs (DFr).

The current low exchange rate of Djibouti francs (162 to US $ 1) might suggest that with the finances of the republic is not all right, inflation is likely to strong, local bank notes do not enjoy the confidence of the population and, hence, an alien who has a hard currency, all Djiboutian pleasure to accrue on the cheap.

In reality the situation is quite the opposite. In the city of Djibouti (especially in the part which is directly adjacent to the port), traders are ready to accept payment in foreign currency. But, for French francs. Weighted Dollar, Pound Sterling and Deutschemark interested them very little. Thus, even the Franks of the former empire did not take the official exchange rate (about DFr28, 5 per FFr1), but by “treaty”. And no matter how often negotiated with the dealer, the course will always be undervalued at the expense of the foreigner.

By themselves, the local prices of visitors also not encouraging. Djibouti, on the whole world (and even more so - African) standards - expensive country. Suffice it to say that the levy of reflected from the airport of Djibouti, is not equal to the world average US $ 10-15, but by a US $ 30.

While the sources of income of the republic is limited and costs - are diverse (there is practically no arable land, no industry: all that is necessary must be flown in from abroad), financial system is the envy of Djibouti is working steadily. There is no appreciable inflation and artificial restrictions on the operations of the local currency (in particular, it is permitted to import and export in any quantity). Therefore there is no black market.

The easiest and most convenient way to exchange money in Djibouti - is to act through official channels. Permits for such operations are two types of institutions: banks and private exchange offices. The first in the city of Djibouti are grouped around the central square Place Lagarde. Second concentrated on the Place Menelik. The exchange rate there is almost no different. But for newcomers small private traders still convenient for two reasons. They work all day (and the banks - just before noon). In addition, money-changing shop not only accept French francs and dollars, but little-known currencies of neighboring countries, to which the bank clerk did not want to even touch. If you make krasnomorskoi cruise and on previous visits to the ports you still have excess Egyptian pounds, or Jordanian dinars, at Place Menelik, these have become useless pieces of paper can be re-converted into real money.

French Franc me even in city hotels. Formally, the hotels do not have the right to do it, but the police, of course, never occurred to pay attention to such small deviations from the letter of the law. Exchange rates hotels disadvantageous for foreigners.

Outside the city limits of the capital is almost no place to change money. For various reasons. The international airport exchange office not simply because it is not. In the northern half of the country there are more serious problems - political.

The population is divided roughly in half on the Afars and Issas. In 1991, the long-standing enmity between two deaf peoples took definite form. And one Afar militant group took control of the north (which is not very difficult: this lifeless mountainous terrain can control anyone would wish to stay there).

Villages on the coast of the North still subject to central government. But there appear no longer foreigners and for their lack of exchange business is dead.