Eric Patrick
Several African countries have maintained strong currencies against the U.S. dollar, reflecting various degrees of fiscal discipline, monetary policy effectiveness, and economic structure.
Currency strength remains a vital indicator of a country’s economic stability and overall financial health.
According to the Forbes currency calculator, the following are the strongest currencies in Africa.
1. Tunisia – Tunisian Dinar (TND)
Exchange Rate: 2.97 TND per USD
Tunisia continues to lead as the African country with the strongest currency.
The Tunisian Dinar’s strength is largely supported by strict exchange control measures and inflation management, even amid ongoing political and economic challenges.
2. Libya – Libyan Dinar (LYD)
Exchange Rate: 5.43 LYD per USD
Despite years of political unrest, the Libyan Dinar remains notably strong.
This resilience is primarily due to Libya’s abundant oil reserves, which generate substantial foreign exchange revenue.
3. Morocco – Moroccan Dirham (MAD)
Exchange Rate: 9.17 MAD per USD
The Moroccan Dirham benefits from the country’s stable macroeconomic policies, economic diversification, and prudent monetary governance. Morocco’s growing appeal to foreign investors, especially in the renewable energy sector, also bolsters its currency.
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4. Ghana – Ghanaian Cedi (GHS)
Exchange Rate: 13.20 GHS per USD
While the Ghanaian Cedi has experienced volatility, recent economic reforms and support from the IMF have introduced a measure of stability.
Government initiatives to rein in inflation and manage public debt are beginning to yield positive outcomes.
5. Botswana – Botswana Pula (BWP)
Exchange Rate: 13.38 BWP per USD
The Botswana Pula stands out as one of the strongest currencies in Sub-Saharan Africa. Sound governance, effective fiscal policies, and a balanced reliance on diamond exports have helped maintain its strength.