Top 10 currencies in Africa

Nigeria is the giant of Africa they say!! But, it will sadden your heart to know that the Nigerian Naira is not listed among the top 10 highest currencies in Africa despite Nigeria’s immense mineral and natural resources.

In Africa, some currencies have continued to show strength despite foreign pressures. In this article, we’ll compare some of the top currencies in Africa against the dollar and the Nigerian naira.

However, the Libyan Dinar is the highest and most valued currency in Africa with an equivalent of 1 USD = LD 4.96. Surprising, right?

Want to know more about how strong the economy of a country is? Check their currency. The strength of a currency has so much to say about the economic situation in that country.

Here’s our list of the top 10 currencies in Africa. You can also read What Is The Highest Currency In The World?

Libyan Dinar

For years running, the Libyan Dinar has maintained its prized position as the most valued currency on the African continent. Perhaps due to the fact that the country is oil-rich, its currency has remained strong over the years.

The Libyan Dinar is equivalent to 315 Nigerian naira. Against the US dollar, the Libyan Dinar exchanges at $1 to 0.20 Dinar.

Tunisia Dinar

Last year, the Tunisian Dinar displaced the Ghanaian Cedi as the second most valued currency in Africa. Tunisia is a North African country that has learned to depend less and less on imported goods and products in favour of homemade products.

Their currency is better for it. A Tunisian dinar exchanges for 486.45 Nigerian naira. You only need 0.31 Tunisian Dinars to get a dollar.

Ghanaian Cedi GHC

Ghana has leveraged its huge mineral resources as well as a thriving economy to make its currency one of the most respected currencies in the African state. Sitting pretty in third spot is the Ghanaian Cedi.

Nigeria used to be the country that feeds Ghana but today our currency can’t even compete with theirs. 1 GHC is worth NGN103.  GHC is equal to 0.067 dollars.

Moroccan Dirham

Morocco’s currency is also one of the most highly respected currencies in Africa. Morocco boasts one of the working economies in Africa, where looting rarely takes place.

The Moroccan Dirham exchanges at one Moroccan Dirham to 155.88 naira. It exchanges for 10.2 Dirhams to the dollar.

Botswana Pula

You might wonder how the Botswana currency could make this list but the naira couldn’t. That goes to show you how well-managed their economy is, despite their meagre resources.

The small South African nation has a currency that is valued at N111.72 per Pula. The Botswana Pula also performs well against the dollar. It goes at 13.98 Botswana Pula for a dollar.

South African Rand

For a long time, the South African Rand has continued to be one of the most valued currencies in Africa. The country boasts of a prospering economy, huge gold deposits and a high internally generated revenue.

However, the South African Rand is gradually losing its value and is not as strong as it used to be. Regardless, one South African Rand goes for 22 Nigerian naira, while 14 Rand is equivalent to 1 dollar.

Egyptian Pounds

The Egyptian Pound makes our list of the most valuable currencies in Africa. Despite being a country surrounded by scorching deserts, the Egyptian economy has not dwindled so much.

Perhaps due to minimal corruption by her leaders, the Egyptian Pound is strong and is valued at 50.30 Egyptian pounds to the dollar. It exchanges at 30.97 Nigerian naira to one Egyptian pound.

Zambian Kwacha

The Zambian Kwacha is highly valued in Africa. How a tiny nation like Zambia has a currency that beats the naira hands down is beyond me. Against the US dollar, the Zambian Kwacha exchanged at 27.84  for a dollar.

Eritrean Nakfa

The small island country boasts a good economy and hence has a strong currency, amazingly, one of the strongest in Africa. One Eritrean Nakfa goes for 111 Nigerian naira. The currency also exchanges at 15 Eritrean Nakfa per dollar.

Seychellois rupee (SCR

One US dollar is valued at 14 SCR

Namibian Dollar

Since 1993, the Namibian dollar has served as the country’s official currency. Namibia ranks as one of the countries with the lowest population density in the world.

It has an estimated population of 2.55 million people and is a stable multiparty democracy with a parliamentary system. Farming, tourism, and mining-related activities—including extraction for diamond gemstones, uranium, silver, gold, and base metals—form the backbone of its economy, whereas the manufacturing sector is relatively small.

One US dollar is valued at 18.77 Namibian Dollars

Weakest Currencies in Africa

São Tomé and Príncipe’s dobra

The So Tomé & Prncipe dobra, or STD, is the national currency of So Tomé & Prncipe, a tiny island republic off the western coast of Central Africa near the equator.

The São Tomé & Principe dobra is made up of 100 cêntimos and is typically symbolized by the notation “Db” in local currency; nevertheless, inflation has rendered cêntimos almost useless.

In 2025, $1 is worth around 23,784.7 STD.

Burundi Franc

Burundi Franc is the country’s currency (BIF). It is denominated in centimes. The Burundi Franc is symbolized by the sign Fbu.

The East African Shilling, which is part of the East African Community, is being discussed as a possible replacement for the Franc in 2015.

Sierra Leonean Leone

Sierra Leone’s official currency is the Sierra Leonean Leone (SLL). The Bank of Sierra Leone is responsible for issuing it. One US dollar exchanges for 22,908 leones as of 2025.

Before the numbers, the symbol “Le” is frequently used to symbolize the leone. For example, Le100 is used to symbolize 100 leones.

It is among the world’s most unstable currencies, with its value against the US dollar falling dramatically between June 2016 and December 2020.

The economy of Sierra Leone is primarily based on raw material exports, particularly in the diamond industry.

Guinean franc

The Guinea franc, the currency of the Republic of Guinea, is abbreviated as GNF. It is a currency in West Africa.

The Republic of Guinea was originally called French Guinea; currently, it is known as Guinea-Conakry, which alludes to the capital city’s name in order to separate it from Guinea-Bissau. As of , one US dollar was worth around 10,000 GNF.

Factors Influencing African Currencies

Inflation

African countries with low inflation rates are bound to have stronger currencies. This is because the purchasing power of their citizens will increase. For instance, countries like Libya, South Africa and Morocco are known for their single-digit inflation rates, while Burundi and Nigeria, known for their double-digit inflation rates, grapple with weakening currencies.

When a country experiences low inflation rates, there’s usually currency appreciation vis-à-vis the currencies of countries they import/export to.

Interest Rates

Interest rates also affect the strength of a currency. The central banks of many African countries are known to tinker with interest rates for more efficient exchange rate management.

Interest rates also affect consumer and business activities in an economy. Higher interest rates can cause a drop in the manner of spending, and negatively affect economic growth. However, they can create an enabling environment for foreign investors who need juicy returns for fixed-income investments. This usually leads to a domino effect as local economic activity can decline but the currency becomes stronger since there is a large inflow of foreign investment.

Unemployment Rates

Unemployment is yet another important factor that can improve or weaken currency value. For African countries with low unemployment rates, there is usually a somewhat stable economy. Countries like Nigeria that experience high unemployment will see their currency weaken as it is an indicator of economic woes and isn’t investor-friendly. High unemployment rates imply less spending, which drastically causes poor economic activity and decline.

Countries with vibrant job markets, on the other hand, can improve their currency value by showing that their economies are strong and stable.

Political stability

Political stability can affect a currency’s value. This is especially true in Africa, where there are countries that are prone to conflict and insurrection. It can cause a drop in the currency’s value due to uncertainty, enough to discourage investment.

Countries experiencing turmoil see their exports decline as trading partners are deterred from doing business with them. It can also result in capital flight, resulting in weakening currency.

African currencies list