It appears that the most popular currencies in Africa are not the ones with the most value. The biggest economies on the continent like Nigeria, South Africa and Kenya, are being beaten by countries one would not expect.
A country’s currency tells a lot about its economy and living standards of the people. There is a huge misconception that the biggest and most popular nations often have the best currencies; this is false – especially when Africa is concerned.
How do you think the big countries in rank concerning their currency in Africa today? Most people believed countries like South Africa and Nigeria have the most valuable currencies in the African continent.
But actually, it is not. Many other currencies are more valuable, especially from countries, you would least expect. The South African Rand came 8th on the list, while the Nigerian Naira did not make it to the top 10.
Below are the countries with the most valuable currency in Africa 2020:
Libyan Dinar (1 USD = LD 1.41):
The Libyan Dinar remains the strongest currency in Africa. In Libya, the Central Bank of Libya has a program that only sells a limited number of dollars to its citizens.
Tunisian Dinar (1 USD = DT 2.87):
Colonized by the French, Tunisia used the French Franc as its currency for many years. But in 1960, the country replaced the franc with dinar after its independence. The country’s monetary policy to export or import dinars or convert them to other currencies has enabled the dinar to be among the highest in Africa.
Ghanaian Cedi (1 USD = GH₵ 5.49):
Despite all the changes made to the Ghana currency it still holds the number 3 spot in Africa. In 2007, the currency was replaced to Cedi and ever since t6he GDP of the country has improved drastically.
Moroccan Dirham (1 USD = MAD 9.89):
The Moroccan Dirham is the de-facto medium of exchange in the Western Sahara region. Its de-facto state makes it one of the highest currencies in Africa.
Botswana Pula (1 USD = P 10.90):
Talk of national acceptance then Botswana Pula is the real deal. It serves as an attractive currency because traders trade it on the Johannesburg Stock Exchange, which is the largest stock exchange in Africa.
Zambian Kwacha (1 USD = ZK 13.14):
The Zambian Kwacha has an attractive value because the country is the largest producer of copper in Africa.