A country with strong currency often indicates a stable economy and can attract investors. Despite challenges like inflation, several African countries have managed to maintain strong currencies.
Here’s a look at the top 10 most valuable African currencies and their exchange rates against the U.S. dollar as of February 2025
1. Tunisian Dinar (TND) – 1 USD = 3.14 TND
The Tunisian Dinar is the official currency of Tunisia. Introduced in 1958, it replaced the Tunisian franc. The country’s central bank, Banque Centrale de Tunisie, oversees its regulation.
2. Libyan Dinar (LYD) – 1 USD = 4.86 LYD
Libya’s currency, the Libyan Dinar, was introduced in 1971, replacing the Libyan pound. The Central Bank of Libya manages its circulation.
3. Moroccan Dirham (MAD) – 1 USD = 9.64 MAD
The Moroccan Dirham is Morocco’s official currency. It was introduced in 1960, replacing the Moroccan franc. Bank Al-Maghrib, the country’s central bank, oversees its regulation.
4. Botswana Pula (BWP) – 1 USD = 13.36 BWP
Botswana’s currency, the Pula, was introduced in 1976, replacing the South African rand. The Bank of Botswana manages its circulation. The word “Pula” means “rain” or “blessing” in Setswana, reflecting the value of rainfall in the country.
5. Seychellois Rupee (SCR) – 1 USD = 13.69 SCR
The Seychellois Rupee is the official currency of Seychelles, an island nation in East Africa. Introduced in 1914 during British rule, it is now managed by the Central Bank of Seychelles.
6. Eritrean Nakfa (ERN) – 1 USD = 15.0 ERN
Eritrea’s currency, the Nakfa, was introduced in 1997, replacing the Ethiopian birr. The Bank of Eritrea oversees its regulation. The currency is pegged to the U.S. dollar at a fixed rate to maintain stability.
7. Ghanaian Cedi (GHS) – 1 USD = 15.65 GHS
The Ghanaian Cedi is Ghana’s official currency. Introduced after independence, it replaced the British pound. Despite facing inflationary challenges, it remains one of Africa’s strongest currencies.
8. South African Rand (ZAR) – 1 USD = 17.92 ZAR
South Africa’s currency, the Rand, was introduced in 1961, replacing the South African pound. The South African Reserve Bank manages its circulation. The name “Rand” is derived from “Witwatersrand,” the ridge where most of South Africa’s gold deposits were found.
9. Zambian Kwacha (ZMW) – 1 USD = 17.37 ZMW
The Zambian Kwacha is Zambia’s official currency. Introduced in 1968, it replaced the Zambian pound. The Bank of Zambia oversees its regulation. The word “Kwacha” means “dawn” in the Nyanja language, symbolizing the country’s independence.
10. Egyptian Pound (EGP) – 1 USD = 30.90 EGP
The Egyptian Pound is Egypt’s official currency. It was introduced in 1834, replacing the Egyptian piastre. The Central Bank of Egypt manages its circulation.
