The Africa continent is home to 54 countries with different currencies. The value of a country’s currency is important because it determines the performance of a country economically, including other factors that contribute to its value such as interest rate, economic stability, and economic policies.
I shall be comparing these currencies with the strongest currency in the world — the U.S. Dollar (USD).
Here is the list of the strongest currencies in Africa in 2022:
1. Tunisian Dinar
Tunisia is an Arabic country located in Northern Africa with lots of foreign investors.
The Tunisian currency name is Dinar with the ISO code TND. The currency is pegged to the Euro because it uses Algeria’s Dinar to form a common currency. This is the reason for its stability, coupled with the efficiency of the country’s import and export policies.
1 USD = 3.14 TND
2. Libyan Dinar
The Libyan Dinar is the second strongest currency in Africa. It has been one of the strongest currencies in Africa because of the strict monetary policy set out by the apex bank of the country.
Libya’s currency name is Dinar, with the ISO code LYD
1 USD = 4.88 LYD
The country’s currency is one of the most valued in Africa and has always been stable—if not for the internal challenges that rocked the country in 2011.
3. Ghanaian Cedi
Ghana’s currency name is Cedi, with the ISO code GHC. It is the official currency for Ghana and the Northern region of Congo, and the strongest currency in Sub-Saharan Africa.
The Cedi is pegged with the U.S. Dollar, that’s why it is one of the strongest currencies in Africa.
1 USD = 9.80 GHC
4. Moroccan Dirham
The Moroccan currency is Dirham, an ancient currency that has been in existence for over a hundred years.
It is one of the fastest-growing economies in Africa. It has the advantage of doing business transactions with the European Union due to its closeness to Europe.
The Moroccan ISO code is MAD
1 USD = 10.34 MAD
5. Botswana Pula
Botswana is located in Southern Africa. It has a strong and stable economy.
The Botswana currency is Pula, a currency pegged with the South African Rand.
The Botswana ISO code is BWP.
1 USD = 12.64 BWP
6. Seychellois Rupee
When it comes to value in currency, the Seychellois Rupee is one of the highest in Africa. The Republic of Seychelles is an island situated in the Indian Ocean, Eastern Africa.
The country’s economy is mainly driven by the importation and exportation of goods.
Seychelles’ currency is Rupee, the ISO code is SCR
1 USD = 14.28 SCR
7. South African Rand
South Africa has one of the strongest economies in Africa as a result of economic growth and its annual GDP of over $350 billion per year.
South Africa’s currency names is Rand, the ISO code is ZAR.
1 USD = 16.80 ZAR
African countries like Namibia, Malawi, and Botswana have pegged their currencies to the Rand.
8. Eritrean Nakfa
Eritrea is another Northeast African country along the Red Sea coast. Eritrea has fertile land for agriculture. Since the demand for food is always high, the country’s economy is also growing rapidly.
Eritrea’s currency name is Nakfa, and the ISO code is ERN
1 USD = 15.00 ERN
9. Egyptian Pound
Egypt is another country in Northeast Africa with the biggest city in Africa — Cairo.
The Egyptian currency is Pound, the ISO code is EGP.
1 USD = 19.15 EGP
10. Zambian Kwacha
Zambia is a country in Southern Africa rich in mineral resources.
Zambia is the largest producer of copper in Africa and sells to other African countries, which helps boost its foreign currency earnings.
Zambia’s currency is Kwacha, the ISO code is ZMW.
1 USD = 16.12 ZMW
Other African Currencies and Their USD Exchange Rates
11. Lesotho Loti (LSL) — 1 USD = 16.65
12. Namibian Dollar (NAD) — 1 USD = 16.65
13. Swazi Lilangeni (SZL) — 1 USD = 16.65
14. Sao Tome and Principe Dobra (STN) — 1 USD = 22.39
15. Mauritanian Ouguiya (MRU) — 1 USD = 37.63
16. Mauritian Rupee (MUR) — 1 USD = 45.50
17. Ethiopian Birr (ETB) — 1 USD = 52.31
18. Gambian Dalasi (GMD) — 1 USD = 54.30
19. Mozambican Metical (MZN) — 1 USD = 63.83
20. Cape Verdean Escudo (CVE) — 1 USD = 108.90
21. Kenyan Shilling (KES) — 1 USD = 119.60
22. South Sudanese Pound (SSP) — 1 USD = 568.50
23. Algerian Dinar (DZD) — 1 USD = 137.34
24. Liberian Dollar (LRD) — 1 USD = 170.50
25. Djiboutian Franc (DJF) — 1 USD = 178.04
26. Zimbabwean Dollar (ZWD) — 1 USD = 361.90
27. Nigerian Naira (NGN) — 1 USD = 410.77
28. Comorian Franc (KMF) — 1 USD = 425.65
29. Sudanese Pound (SDG) — 1 USD = 441.50
30. West African CFA (XOF) — 1 USD = 640.50
This strongest currencies list in Africa will be updated at regular intervals since exchange rates change frequently.