Top 10 Highest Currencies in Africa 2022 (Current Update)

Filed in Articles by on April 6, 2022 0 Comments

If you are looking to know the highest currencies in Africa, you have come to the right place. This article highlights the top 10 highest currencies in Africa 2022.

Highest Currencies in Africa

The first thing to know about currencies is that their values ​​are not constant. This is partly due to unexpected exchange rate movements that may or may not be favorable.

An exchange rate basically means the value of one currency when it is converted to another during a trade. For example, the dollar is currently the most widely accepted base currency due to its widespread use in international trade. So the ten strongest currencies in Africa are basically the highest currencies when converted to the dollar or any other universally accepted currency.

So without further ado, here are the top 10 highest currencies in Africa 2022.

Top 10 Highest Currencies in Africa 2022

1. Tunisian Dinar

This is currently the strongest and most valuable currency in Africa. As at the time of publication, checks by BI Africa show that TND1000 converts to $353.05.

2. Libyan Dinar

Libya currently has the second strongest and most valuable currency on the continent, second only to Tunisia. When converted to the dollar, LYD1000 will give you $219.20.

3. Ghanaian Cedi

This West African country’s currency has the third-highest exchange rate against the dollar in Africa. When we converted GHS1000, we got $164.74. That said, it’s important to note that Ghana had, in 2007, re-denominated its currency such that ten thousand Cedis became equivalent to one Ghana Cedi. The country’s Central Bank explained that the re-denomination became necessary for the sake of statistical convenience.

4. Moroccan Dirham

Morocco has the fourth-strongest currency in Africa, for now. Checks by BI Africa showed that when converted to the dollar, DH1000 becomes $110.46.

5. Botswanan Pula

Botswana in Southern Africa has the fifth strongest currency on the continent. BWP1000 converts to $88.22. However, this may have changed slightly by the time you convert yours due to exchange rate volatility.

ALSO READ: Top 10 Highest Salary Countries in Africa 2022

6. Seychellois Rupee

This tiny island country which is located in the Somali Sea, has one of the strongest currencies in Africa. SCR1000 converted to $78.35 as at the time of filing this report.

7. Namibian Dollar

When converting NAD1000 to the dollar, we got $67.16.

8. Eritrean Nakfa

In Eritrea which is located in the Horn of Africa, they use a currency called the Eritrean nakfa. The currency has the eighth strongest exchange rate against the dollar. As at the time of comparison, ERN1000 converted to $66.66.

9. South African Rand

South Africa is one of the continent’s strongest economies. It also has one of the strongest currencies. When we converted ZAR1000 to the dollar, we got $66.63.

10. Swazi lilangeni

Although it is among the poorest countries on the continent, Eswatini (Swaziland) has one of the strongest currencies. When converted to the dollar, SZL1000 gave us $66.62.

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Source: Sabonews.org

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