A country’s currency is the reflection of its economy. The highest currencies in Africa are therefore the monetary units of some of the richest countries on the continent. Granted, most of Africa is poor, and the exchange rates at which their currencies are sold often reflect that reality.
Nevertheless, much of the continent is making strategic investments to build up its economy, and these investments are already yielding returns, which are already noticeable in the exchange rates of the countries as presented below.
These are the most powerful currencies in Africa; belonging to the most solid economies on the continent.
Top 50 Highest Currencies In Africa
1. Tunisian Dinar
Exchange Rate: 1 USD = 3.15 TND
Tunisia is a country in north Africa; one that appears more European than African. Tunisia by association is very much in tune with the middle east; but a lot more liberal, which is why foreign investments and business abound all over the country.
It is therefore no surprise that the Tunisian dinar is the strongest currency in Africa; it is belongs to one of the most diversified and stable economies on the continent; with a people who have a very high taste for quality goods.
2. Libyan Dinar
Exchange Rate: 1 USD = 4.85 LYD
For a long time the Libyan Dinar was the highest and most south after currency on the African continent. A decade of bloody conflicts have taken their toll on the people, the economy, and the currency- which is why the Libyan Dinar is now the second most valuable currency in Africa.
Libya was once classified as a rich country, but the present metrics are quite unclear. Nevertheless, the country remains heavily dependent on crude oil exports; this is the main source of revenue. The government is the highest employer, and there is a huge level of income disparity between men and women.
Despite these challenges, the country is quite stable in terms of economy, and the currency is also very stable.
3. Moroccan Dirham
Exchange Rate: 1 USD = 10.44 MAD
The Moroccan Dirham is one of those near the top of the African currency list; it is the currency of morocco; a kingdom in North Africa. The Moroccan dirham presently exchanges for around 10.44 MAD for 1 USD.
Morocco’s economy is quite well diversified; although it is classified as a developing economy. Some of the key areas that buoy this economy include services, industry and agriculture; with services being the biggest contributor to the economy.
Inside the services sector; tourism and its associated sectors command the highest position by revenue- this is because morocco is rich in culture; and receives many visitors from all over the world.
4. Ghanaian Cedi
Exchange Rate: 1 USD = 12.22 GHC
Ghana is a small country in West Africa; but its currency is not a small one. The Ghanaian Cedi is the highest currency in West Africa; and one of the highest on the continent overall. The Ghanaian Cedi has always been the currency of this country, but in its current form, it was launched in 2007.
Ghana launched its new Cedi at a time of a near complete overhaul of its economy. Impediments to progress were removed, and infrastructure was revamped. Today, Ghana has an economy to be proud of; mining, infrastructure, manufacturing, and agriculture all contribute to make this economy, and this currency strong.
5. Seychellois Rupee
Exchange Rate: 1 USD = 13.05 SCR
The Seychellois Rupees is one of the most valuable currencies in Africa; it presently exchanges for about 13.05SCR to 1 USD. This currency has been in circulation since about 1914, although the country became independent in 1976.
Seychelles is a country in the Indian Ocean; about 2,000 miles off the coast of east Africa. The Seychellois Rupee is therefore the highest currency in the east Africa zone; although much of this currency’s strength comes from trade with countries outside the continent.
Seychelles’ economy is buoyed by manufacturing (vanilla, coconut oil, textiles, and boats), agriculture, tourism, and finance.
6. Botswana Pula
Exchange Rate: 1 USD = 13.36 BWP
Botswana’s currency; the Pula is another one of the solid currencies on the continent. Botswana’s currency exchanges for around 1 USD: 13.36 BWP which is quite an impressive feat for this small sub-Saharan country.
Botswana is located in southern Africa; it is landlocked between Namibia, South Africa, Zambia and Zimbabwe. The country only has a population of about 2.3 million people.
Botswana’s Pula is supported by an economy that is supported by the mining, agriculture, services, and finance industries. The creative industry has also become quite important recently.
7. Eritrean Nakfa
Exchange Rate: 1 USD = 15 ERN
The Eritrean Nakfa is one of the most stable currencies on the continent; and this is because it is heavily guarded by the government of the country. This currency presently exchanges for 15 ERN for one US Dollar.
Eritrea is a heavily militarized country in eastern Africa; but it is a country that has gone to great lengths to protect its economy. Eritrea’s economy is supported by mining, agriculture, and tourism. The country does a lot of trade with Arab countries; it produces coffee, and gold in abundance.
8. Namibian Dollar
Exchange Rate: 1 USD = 18.46 NAD
The Namibian Dollar is the currency of Namibia; a country in southern Africa. The currency currently exchanges for about 18.46 NAD to 1 US Dollar. The currency was introduced in 1993.
Namibia’s economy is supported by mining, tourism, services, agriculture, and manufacturing. Despite all of that; the currency does not really reflect its own economy because the currency is pegged to the South African Rand.
9. South African Rand
Exchange Rate: 1 USD = 18.48 ZAR
The South African Rand is arguably the most important currency in Africa; it is used in South Africa, as well as in Namibia, Eswatini, and Lesotho.
South Africa is a regional power; and one of the most influential countries on the African continent; it also has the most well managed, and well diversified economy in Africa; with several key sectors such as mining, agriculture, energy, tourism, and fishing playing important roles.
10. Eswatini Lilangeni
Exchange Rate: 1 USD = 18.52 SZL
The Eswatini Lilangeni is another highly valued currency in southern Africa; it belongs to the kingdom of Eswatini; which is an enclave in South Africa. Presently, it exchanges for around 18.52 SZL to 1 USD- and as you may have guessed; it is pegged to the South African Rand.
Eswatini thrives on agriculture, tourism, and mining. The South African Rand is also a very popular currency in this country; it is accepted for trade and commerce.
The following represents a more expansive list of the top 50 highest currencies in Africa.
| Rank | Country | Exchange Rate | Location |
| 1 | Tunisian Dinar | 1 USD = 3.15 TND | North Africa |
| 2 | Libyan Dinar | 1 USD = 4.85 LYD | North Africa |
| 3 | Moroccan Dirham | 1 USD = 10.44 MAD | North Africa |
| 4 | Ghanaian Cedi | 1 USD = 12.22 GHC | West Africa |
| 5 | Seychellois Rupee | 1 USD = 13.05 SCR | East Africa |
| 6 | Botswana Pula | 1 USD = 13.36 BWP | Southern Africa |
| 7 | Eritrean Nakfa | 1 USD = 15 ERN | Eastern Africa |
| 8 | Namibian Dollar | 1 USD = 18.46 NAD | Southern Africa |
| 9 | South African Rand | 1 USD = 18.48 ZAR | Southern Africa |
| 10 | Eswatini Lilangeni | 1 USD = 18.52 SZL | Southern Africa |
| 11 | Lesotho loti | 1 USD = 18.53 LSL | Southern Africa |
| 12 | Zambian kwacha | 1 USD = 20.13 ZMK | Southern Africa |
| 13 | Egyptian pound | 1 USD = 30.90 EGP | North Africa |
| 14 | Mauritanian ouguiya | 1 USD = 34.90 MRO | East Africa |
| 15 | Mauritian rupee | 1 USD = 46.76 MUR | East Africa |
| 16 | Ethiopian birr | 1 USD = 53.70 ETB | East Africa |
| 17 | Gambian dalasi | 1 USD = 61.15 GMD | West Africa |
| 18 | Mozambican metical | 1 USD = 63.84 MZN | Southeast Africa |
| 19 | Cape Verdean escudo | 1 USD = 104.08 CVE | West Africa |
| 20 | Algerian Dinar | 1 USD = 137 Algerian Dinars | North Africa |
| 21 | Kenyan Shilling | 1 USD = 138.65 Ksh. | East Africa |
| 22 | South Sudanese Pound | 1 USD = 130.26 SSP | East Africa |
| 23 | Djiboutian Franc | 1 USD = 177.99 DJF | East Africa |
| 24 | Liberian Dollar | 1 USD = 168.38 LRD | West Africa |
| 25 | Zimbabwe Dollar | 1 USD = 322 ZWL | Southern Africa |
| 26 | Nigerian Naira | 1 USD = 460 NGN | West Africa |
| 27 | Comorian Franc | 1 USD = 459.45 CF | East Africa |
| 28 | Angolan Kwanza | 1 USD = 565.00 AOA | Central Africa |
| 29 | Somali Shilling | 1 USD = 568.2 Sh | East Africa |
| 30 | Mali | 1 USD = 612.22 XOF | West Africa |
| 31 | Senegal | 1 USD = 612.22 XOF | West Africa |
| 32 | Sudanese Pound | 1USD = 601 SD | Northeast Africa |
| 33 | Rwandan Franc | 1 USD = 1,127.64 RWF | East Africa |
| 34 | Tanzanian Shilling | 1 USD = 2,365.00 TZS | East Africa |
| 35 | Burundian Franc | 1 USD = 2,820.75 BIF | East Africa |
| 36 | Congolese Franc | 1 USD = 2,335.00 CDF | Central Africa |
| 37 | Ugandan Shilling | 1 USD = 3,778.85 UGX | East Africa |
| 38 | Guinean Franc | 1 USD = 8,592.13 GNF | West Africa |
| 39 | Malagasy Ariary | 1 USD = 4,388.25 MGA | East Africa |
| 40 | Guinea-Bissau | 1USD is 9,953.00 GNF | West Africa |
| 41 | Sierra Leonean Leone | 1USD is Le 19,750.00 SLL | West Africa |
| 42 | Sao Tome & Principe Dobra | 1 USD = 22,823.990504 STD | Central Africa |
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Closing
The highest currencies in Africa shows the economic potential in the country. While it is probably not the best approach to divide the continent into sub groups; the table above shows the strength of the North African sub region which is closely followed by the southern African countries. East Africa is the region to watch out for; many of the countries in that region have their currencies buoyed by sound economics.