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Understanding your currency value based on the US dollar is vital especially if you are an entrepreneur looking forward to taking your business international. A strong currency gives you buying power, allowing you to enjoy imported goods at a lower cost.
The strength of a currency is determined by its value against the US dollar. Tunisia, Libya, and Morocco are the top 3 currencies in Africa.
Do you know where your country’s currency stands? If not, this piece provides you with a list of the 30 highest currencies in Africa.
Let’s get into it!
(30 Highest) Strongest Currency In Africa Against Dollar
In a rush? Here is a brief overview of the 30 strongest currencies in Africa.
| Position | Country | Currency | Equivalence To 1USD |
| 1 | Tunisia | Tunisian Dinar (TND) | 3.13 |
| 2 | Libya | Libyan Dinar | 4.84 |
| 3 | Morocco | Moroccan Dirham | 9.94 |
| 4 | Botswana | Botswana Pula | 13.45 |
| 5 | Seychelles | Seychellois Rupee | 14.68 |
| 6 | Eritrea | Eritrean Nakfa | 15 |
| 7 | Ghana | Ghanaian Cedis | 15.21 |
| 8 | Swaziland | Eswatini lilangeni | 17.85 |
| 9 | Namibia | Namibian Dollar | 17.86 |
| 10 | Lesotho | Lesotho loti | 17.86 |
| 11 | South Africa | South African Rand | 17.96 |
| 12 | Zambia | Zambian kwacha | 25.42 |
| 13 | African Republic of Mauritia | Mauritanian ouguiya | 39.30 |
| 14 | Mauritius | Mauritian rupee | 46.84 |
| 15 | Egypt | Egyptian Pound | 48.15 |
| 16 | Ethiopia | Ethiopian Birr | 57.58 |
| 17 | Mozambique | Mozambican metical | 63.70 |
| 18 | Gambia | Gambian dalasi | 67.75 |
| 19 | Cape Verde Republic | Cape Verdean escudo | 103.02 |
| 20 | Kenya | Kenyan shilling | 129.23 |
| 21 | South Sudan | South Sudanese Pound | 130.26 |
| 22 | Algeria | Algerian Dinar | 134.35 |
| 23 | Djibouti | Djiboutian Franc | 177.67 |
| 24 | Liberia | Liberian Dollar | 193.69 |
| 25 | Zimbabwe | Zimbabwean Dollar | 361.9 |
| 26 | Comoros | Comorian Franc | 460 |
| 27 | Somalia | Somali shilling | 570.28 |
| 28 | Sudan | Sudanese Pound | 601 |
| 29 | Cote d’Ivoire Benin Burkina Faso Mali Niger Senegal Guinea-Bissau Togo | West African Franc | 612.84 |
| 30 | Nigeria | Nigerian Naira | 1488 |
1. Tunisian Dinar (TND)
(1USD=3.13 TND)
The Tunisian Dinar is the highest currency in Africa with an exchange rate of 3.13. It was introduced in 1958 and has held the first position for decades making it a stable medium of exchange for individuals and traders in the country. TND also ranks high globally, making it a stable and less volatile currency against international inflation.
2. Libyan Dinar (LYD)
(1 USD = 4.84 LYD)
The Libyan Dinar is the second strongest currency in Africa with an exchange rate of 4.84. It is Libya’s main currency and was introduced in this Northern country in 1971 in place of the Libyan pound. This currency boasts a low volatility index compared to other African nations.
3. Moroccan Dirham (MAD)
(1 USD = 9.94 MAD)
MAD or Moroccan Dirham is the official currency of Morocco country with an exchange rate of 9.94. The currency which was reintroduced in 1960, experienced exceptional growth during the reign of King Mohammed VI who got into power in 2011. Part of the cause of this growth was his free-market reforms.
4. Botswana Pula (BWP)
(1 USD = 13.45 BWP)
BWP or Botswana Pula is the official currency of Botswana trading at 13.45, and holds the fifth position of the strongest currencies in Africa. The currency has been in play since 1976 after replacing the South African Rand. However, it’s important to note that the BWP is highly linked to the South African Rand.
5. Seychellois Rupee (SCR)
(1 USD = 14.68 SCR)
Although Seychelles has a small and open economy, the country boasts a strong currency against the USD at 14.68. The nation majorly relies on tourism and fishing.
6. Eritrean Nakfa (ERN)
(1 USD = 15 ERN)
The Eritrean Nakfa boasts an exchange rate of 15 and is the 7th strongest African currency and the official currency of Eritrea. The nation introduced the ERN in 1997 to replace the Ethiopian Birr. Besides being a strong currency against the USD, the Eritrean Nakfa is one of the most liquid financial assets used for international transactions.
7. Ghanaian Cedis (GHS)
(1 USD = 15.21 GHS)
The Ghanaian Cedi or GHS is the official currency of Ghana and boasts an exchange rate of 15.21. This currency replaced the pound in 1965. The nation introduced a new Cedi to replace the old one in 2007, improving the value of the currency significantly.
8. Eswatini lilangeni
(1 USD = 17.85 SZL)
SZL is the legal tender of the Swaziland nation also known as the Eswatini kingdom. The Eswatini Liliangeni currency was introduced in 1974 and trades at 17.85.
9. Namibian Dollar
(1 USD = 17.86 NAD)
The Namibian Dollar holds the 8th position of the strongest currencies in Africa and trades at 17.86. Before introducing NAD in 1993, Namibia was using the South African Rand.
10. Lesotho loti
(1 USD = 17.86 LSL)
Located in Southern Africa, Lesotho nation uses the LSL or Lesotho loti as its official currency. 1 Lesotho loti can be subdivided into 100 units known as lisenti. The LSL trades at 17.86.
11. South African Rand (ZAR)
(1 USD = 17.96 ZAR)
ZAR is the official currency of South Africa, trading at 17.96. This southern-based nation boasts one of the strongest economies in the globe. The ZAR value has grown over time due to the economic expansions and the country’s high GDP growth rate of 4.6% annually.
12. Zambian kwacha
(1 USD = 25.42 ZMK)
The ZMK is the official mode of exchange in Zambia which stands at 25.42 against the USD. Zambia was using the Zambian pound before introducing the kwacha in 1967 which means the dawn.
13. Mauritanian ouguiya
(1 USD = 39.30 MRO)
Mauritanian ouguiya is the official currency of the African Republic of Mauritania. Unlike other currencies that are divisible into 10 and 100 units, the MRO usually has multiples of 5. Currently, it trades at an exchange rate of 39.30.
14. Mauritian rupee
(1 USD = 46.84 MUR)
The Mauritian rupee is the official currency for Mauritius and trades at 46.84. The nation discovered the MUR in 1876 and then started circulating it in 1877. This currency is usually available in units of 25, 50, 100, 200, 500, 1000, and 2000.
15. Egyptian Pound
(1 USD = 48.15 EGP)
The EGP is the official Egyptian currency trading at 17.66. Earlier on, Egypt used the piastre before introducing the Egyptian pound in 1834.
16. Ethiopian birr
(1 USD = 57.58 ETB)
Ethiopia uses the Birr as its official legal tender countrywide. The National Bank of Ethiopia is responsible for the circulation and management of the currency. As of today, the ETB exchanges at 57.58.
17. Mozambican metical
(1 USD = 63.70 MZN)
The MZN which exchanges at 63.70 is the official currency of the Mozambique Republic. It is one of the most stable currencies experiencing slight value changes annually.
18. Gambian dalasi
(1 USD = 67.75 GMD)
The Gambian dalasi trades at 67.75 and is the official currency of the Gambia nation. Dalasi which is a France-inspired name was introduced in 1971, replacing the Gambian dollar.
19. Cape Verdean escudo
(1 USD = 103.02 CVE)
The CVE is the official currency of Cape Verde Republic. An escudo is divisible into 100 cevantos. Usually, this currency uses the ~ symbol to separate decimals when written. Currently, the CVE trades at 103.02.
20. Kenyan Shilling
(1 USD = 129.23 KES)
The shilling is the currency of Kenya and is subdivided into 100 cents. The Central Bank of Kenya introduced the KES into the nation in 1966. As of today, the Kenyan shilling stands at an exchange rate of 129.23.
21. South Sudanese Pound
(1 USD = 130.26 SSP)
SSP is the legal tender for South Sudan boasting an exchange rate of 130.26. The pound can be subdivided into 100 units called piastres.
22. Algerian Dinar
(1 USD = 134.35 DZD)
DZD, the official currency of Algeria is divisible into 100 centimes. The centime is the lowest value of the dinar available. To exchange your cash for 1 dollar, you need 134.35 DZD today.
23. Djiboutian Franc
(1 USD = 177.67 DJF)
The Djiboutian Franc currency is denoted by the DJF code and is subdivided into 100 centimes. Its circulation began in 1908, however the currency experienced changes in coins and banknote design in 1977.
24. Liberian Dollar
(1 USD = 193.69 LRD)
The LRD has been the official legal tender for Liberia since 1943. It carries a $ sign in its abbreviation to differentiate it from other dollar-named currencies. As of today, the LRD exchange rate stands at 193.69.
25. Zimbabwean Dollar
(1 USD = 361.9 ZWD)
The Zimbabwean dollar has seen several changes after the first denomination that was introduced in 1980 reduced in value extremely in the 21st century. As of now, it has an exchange rate of 361.9.
26. Comorian Franc
(1 USD = 460 KMF)
KMF is the official legal tender of Comoros and has an exchange rate of 460. The Comorian Franc is divisible into 100 units known as centimes. However, the Banque Centrale des Comores does not issue centimes denominations.
27. Somali Shilling
(1 USD = 570.28 SOS)
SOS is the official currency of Somalia and is divisible into 100 units called senti, cents, or centesimo. This currency is available in coins of 5, 10, 50 cents, and 1 shilling. As of today, the Somali shilling exchange rate is 570.28.
28. Sudanese Pound
(1 USD = 601 SDG)
The Sudanese Pound denoted as LS is the legal tender for Sudan. The pound is subdivisible into 100 units known as pastries. To exchange SDG today you need 601 pounds for 1 USD.
29. West African Franc
(1 USD = 612.84 CFA)
The West African Franc is the official currency for Cote d’Ivoire, Benin, Burkina Faso, Mali, Niger, Senegal, Guinea-Bissau, and Togo. The bills have country codes to identify and classify the cash flow between the CFA Franc nations. As of today, the CFA exchange rate is 612.84.
30. Nigerian Naira
(1 USD = 1488 NGN)
The Naira is the official legal tender of Nigeria with an exchange rate of 1488. This is an improvement compared to the 2022 value. The Naira is subdivisible into 100 kobo and is usually available in notes of 5, 10, 20, 50, 100, 200, 500, and 1000.
Also Read:
How’s Your Country’s Currency Performing?
Now that you have seen the top 30 currencies in Africa, you can identify your currency’s position and its general performance. While we have limited control over these financial tools, we can learn their disposition and plan our transactions and investments accordingly.
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