Top 30 Highest Currencies In Africa As Of Today; See Nigeria's Position
Top 30 Highest Currencies In Africa As Of Today; See Nigeria's Position
Most African countries do not have strong and stable currencies. This is because of the economy of African countries, and the political instability. Having a strong currency means it becomes cheaper to import goods. When a country's medium of exchange is strong, it reduces its volatility in the forex market.
Here's a list of the top 30 currencies in Africa:
1. Libyan Dinar (1 USD= 1.40 LD): the Libyan dinar is the strongest currency in Africa. The real cause of the dinar's surge is the flood of dollars into Libya. It is reported that $10 million a day is entering the black market. The main reason for the flood has been the Central Bank's $400 allowance to every Libyan in foreign currency per year. The economy of Libya depends primarily on revenues from the petroleum sector, which represents over 95% of export earnings and 60% of GDP Libya also has a small population.
2. Tunisian Dinar (1 USD = 2.84 DT): the dinar is the currency of Tunisia. The Tunisian Dinar is what is known as a "closed currency", which means it's a criminal offence to either import or export the currency in and out of Tunisia.
3. Ghanaian Cedi (1 USD = 5.77 GHS): the Ghanaian cedi is the currency of Ghana. The economy of Ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive & ship construction and exportation.
4. Moroccan Dirham (1 USD = 9.66 MAD): the Moroccan dirham is the official monetary currency of Morocco. The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. Industry and mining contribute about one-third of the annual GDP.
5. Botswanan Pula (1 USD = 11.70 BWP): the pula is the currency of Botswana. Pula literally means " rain" in Setswana, because rain is very scarce in Botswana - home to much of the Kalahari desert - and therefore valuable and a blessing. Botswana's economy is mostly dependent on diamond mining. Diamond mining contributes to 50% of the government revenue.
6. Eritrean Nakfa (1 USD = 15 ERN): the nakfa is the currency of Eritrea and was introduced on the 8th November, 1997 to replace the Ethiopian birr at par. The country's main industries are beverages, cement, clothing & textiles, food processing, light manufacturing and salt.
7. Egyptian Pound (1 USD = 16.18 LE): the Egyptian pound is the currency of Egypt. The Egyptian pound is frequently abbreviated as LE or L.E, which stands for Livre Egyptienne. Egypt's economy relies mainly on agriculture, media, petroleum, imports, natural gas, and tourism.
8. Namibian Dollar (1 USD = 17.09 NAD): the Namibian dollar has been the currency of Namibia since 1993. It is normally abbreviated N$ to distinguish it from other dollar denominated currencies. Namibia's economy is driven by mining and fish processing. It exports duaminds, uranium, zinc, and fish products.
9. Lesotho Loti (1USD = 17.09 LSL): the Loti is the currency of the kingdom of Lesotho. Lesotho's narrow economic base consists of textile manufacturing, agriculture, diamond mining, remittances from Basothos working in South Africa, and regional customs revenue.
10. Eswantini Swanzi Lilangeni (1 USD = 17.23 SZL): the liliangeni is the currency of Eswantini. It is issued in the Central Bank of Eswantini. The South African rand is also accepted in the country.
Below is the list from 11-30:
11. South African rand (1 USD = 17.24 R)
12. Seychellois Rupee (1 USD = 17.59 SR)
13. Zambian Kwancha (1 USD = 18.02 ZK)
14. Sao To mean Dobra (1 USD = 22.7511 Db)
15. Ethiopian Birr (1 USD = 34.40 Br)
16. Mauritanian Ouguiya (1 USD = 37.6 UM)
17. Mauritian Rupee (1 USD = 40.10 Rs)
18. Gambian Dalasi (1 USD = 51.70 D)
19. Sudanese Pound (1USD = 55.28 SD)
20. Mozambican Metical (1 USD = 69.73 MT)
21. Cape Verdean Escudo (1 USD = 98.17 Esc)
22. Kenyan Shilling (1 USD = 106.46 Ksh.)
23. South Sudanese Pound (1 USD = 130.26 SSP)
24. Djiboutian Franc (1 USD = 177.72 DJF)
25. Liberian Dollar (1 USD = 199 LRD)
26. Nigerian Naira (1 USD = 387 NGN)
27. Comorian Franc (1 USD = 437.05 CF)
28. Somali Shilling (1 USD = 576.241 Sh)
29. Malian Franc (1 USD = 577.22 MLF)
30. Senegal (1 USD = 577.22 XOF)
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