- Strongest Currencies in Africa
Africa has a couple of strong currencies that are used as a medium of exchange in markets across the continent as explained here.
1. Libyan Dinar.
Libya is known for it vast deposit of crude oil. Currency of Libya, the Libyan Dinar is the strongest currency in Africa.
One (1) Libyan Dinar is equals to NGN 223. When compared with the dollar, one dollar is equivalent to 1.4116 Libyan dinars.
2. Tunisia Dinar.
The Tunisian Dinar comes in after the Libyan Dinar as the second most valuable currency in Africa. When compared to the Nigerian Naira, you will get NGN138 exchanged for one Tunisian Dinar. The exchange rate of this currency to the dollar, 1 US dollar is equivalent to 2.2814 Tunisian dinars.
3. Ghanaians Cedis.
West African country, one of the closest neighbor to Nigeria. Ghana, with a growing and well managed economy. This has earned them third spot with the Ghanaian cedis has the their highest currency in Africa.
Also, many years back, their situation could not even be compared to what is obtainable in Nigeria but as we have it today, some would even argue that they are better developed.
One Ghanaian Cedis is equal to 79 Naira. Comparing it with the dollar, it is approximately 4 Ghanaian cedis that’s one U.S dollar.
4. Sudanese Pounds.
The Sudanese Pounds is the currency of Sudan, it is one of the highest currency in Africa. About 6 Sudanese pounds is equal to one United States dollar.
To the Nigerian Naira, a Sudanese pound equals 48 Naira.
5. Moroccan Dirham.
This is also one of the strongest currencies in Africa, one Moroccan Dirham equals 31 Naira.
About 9 Moroccan Dirham is exchanged for one dollar.
6. Botswana Pula.
Botswana Pula is worth NGN29. 10.8 Botswana Pula is exchanged for one dollar.
7. South African Rand.
This should have been up the ladder, but the currency is gradually losing it value.
Currently, one South African Rand is 22 Naira.
Against the dollar, 14 South African Rand equals one dollars.
8. Egyptian Pounds.
The Egyptian pounds is worth 20.29 Naira.
It exchange rate to the United States dollar is 15.4 Egyptian pounds to 1 USD.
9. Eritrean Nakfa.
Eritrea, an island country of Africa. Their currency is one of the currency that beats the Naira.
The currency is worth 20.27 Naira. The exchange rate of this currency to the dollar is 15.5 Eritrean Nakfa equals one USD.
10. Zambian Kwacha.
Zambian Kwacha, currency of Zambia is also one of the highest currency in Africa . 1 USD = 9.84 Zambian kwacha.