The African continent is a home to 54 countries with different currencies.
The value of a country currency is important because it determines the performance of a country economically including other factors that contributed to its value such as interest rate, economic stability and economic policies.
I shall be comparing these currency with the strongest currency in the world which — U.S. Dollars (USD).
Here are the list of strongest currency 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”. It is the strongest currency in Africa. The currency is pegged to 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.
As at August 2022, 1 USD = 3.14 TND.
2. Libyan Dinar
Libyan Dinar is second strongest currency in Africa. It has been strongest currency in Africa because of its monetary policy strictness set out by the apex bank of the country.
Libya currency name is “Dinar” with the ISO code “LYD”. 1 USD = 4.88 LYD.
The country currency is one of the most valued currency in Africa and has always been stable if not for the internal crisis that rocked the country in 2011.
3. Ghanaian Cedi
Ghana currency name is Cedi with the ISO code “GHC”. It is the official currency for Ghana & 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 currency in Africa.
1 USD = 9.80 Cedi
4. Morocoan Dirham
The Moroccoan currency is Dirham, an ancient currency that has been in existence for over an hundred years.
It is one of the fastest growing economy in Africa. It has the opportunity of doing business transactions with the European Union due to her closeness to Europe.
The Moroccoan ISO code is MAD. 1 USD = DH. 10.34
5. Botswana Pula
Botswana is located in southern Africa. It had a strong and stable economy.
The Botswana currency is Pula, a currency pegged with South African Rand.
The Botswana ISO code is BWP. 1 USD= 12.64 BWP.
6. Seychellois Rupee
When it comes to value in currency, 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 its importation and exportation of goods.
Seychelles currency is Rupee, the ISO code is SCR. 1 USD= SRe 14.28.
7. South African Rand
South Africa has one of the strongest economy in Africa as a result of economic group and its annual GDP over $350billion per year.
South Africa currency name is Rand, the ISO code is ZAR. 1 USD= R 16.80
African countries like Namibia, Malawi & Botswana have pegged their currency to Rand.
8. Eritrean Nakfa
Eritrea is another African Northeast African country in the red sea coast. Eritrea has fertile lands for agriculture. Since the demand for food is always high, the country economy is also growing rapidly.
Eritrea currency name is Nakfa and the ISO code is ERN. 1 USD = Nfk 15.00
9. Egyptian Pound
Egypt it’s another country in Northeast of Africa with the biggest city in Africa — Cairo.
The Egyptian currency is Pound, the ISO code is EGP. 1 USD = E£ 19.15
10. Zambian Kwacha
Zambia is a country is Southern Africa rich in mineral resources.
Zambia is the largest producer of copper in Africa and selling to other Africa countries which help to boost in foreign currency.
Zambian currency is Kwacha, the ISO code is ZMW. 1 USD= ZK 16.12
Other African currency include the following with their USD rate.
- Lesotho Loti (LSL) —$16.65
- Namibian Dollar (NAD) —$16.65
- Swazi Lilangeni (SZL) —$16.65
- Sao Tome and Principe Dobra (STN) —$22.39
- Mauritanian Ouguiya (MRU) —$37.63
- Mauritian Rupee (MUR) —$45.50
- Ethiopian Birr (ETB) —$52.31
- Gambian Dalasi (GMD) —$54.30
- Mozambican mMetical (MZN) —$63.83
- Cape Verdean Escudo (CVE) —$108.90
- Kenyan Shilling (KES) —$119.60
- South Sudanese Pound (SSP) —$568.50
- Algerian Dinar (DZD) —$137.34
- Liberian Dollar (LRD) —$170.5
- Djiboutian Franc (DJF) —$178.04
- Zimbabwean Dollar (ZWD) —$361.9
- Nigerian Naira (NGN) —$410.77
- Comorian Franc (KMF) —$425.65
- Sudanese Pound (SDG) —$441.5
- West African CFA (XOF) —$640.50
NB: The strongest currency list will be updated at regular intervals since the exchange rate changes frequently.
