List of African Countries with the Strongest Currencies.

List of African countries with the strongest currencies brings under your click just the information you need to have about the Africa’s currencies that are strong and are almost competing with the Dollar. It is a fact that Africa has many currencies but not most of that has the foreign exchange capacity to stand with the Dollar or Pound or Euro in the international market.

List of African Countries with the Strongest Currencies.

Here are unarguably the number of African countries that have the strongest currencies, and of course, this information also briefly outlines some of the reasons why they are standing strong.

• Tunisian Dinar

It is no doubt Tunisia has the strongest currency in Africa with the Dinars. Tunisia is an Arabic country that is situated in Northern Africa, and it is one of the list of African countries with the strongest currencies that attract foreign investors.

The Tunisian Dinar is pegged to the Euro as it uses this currency along with Algeria’s Dinar to form a common currency. This reason is its stability as it has strong support from another country. Its currency name is Dinar. The code is TND. Current Exchange Rate is $1 = 2.88.

• Libyan Dinar

Another one on our list of African countries with the strongest currencies is Libya and the Libyan Dinar.  Sometime before now, the Libyan Dinar has been the strongest currency in Africa because of the strict monetary policy set out by Libya’s central bank. This fact may be owing to Libya’s richness in resources like oil, gold, and silver.

The National Bank of Libya issues this currency valuable, and it has an ISO code known as LYD and its currency exchange rate is 1$ = 4.58 LYD.

However, against all its political challenges the LYD is still one of the strongest currencies in Africa currently.

• Ghanaian Cedi

It should not be surprising that Ghana and its Cedi also made it to the list of African countries with the strongest currencies in Sub-Saharan Africa. Cedi is an official currency for both the Republic of Ghana and the Northern region in Togo.

In 2007 the Central Bank of Ghana replaced the Cedi, and since then, it has been growing in strength and value. Even though Ghana is one of those countries affected by the foreign exchange crisis in 2008, along with Tunisia, Morocco, and South Africa, its currency was not hit as hard as the others.

Its exchange rate currently is 1$ = 6.16 GHC.

Note: The GPD of Ghana is the largest in West Africa, contributing to the Cedi being one of the strongest currencies in Africa.

• Moroccan Dirham

Moroccan Dirham is an ancient currency in Africa as it has been around for more than 100 years. It is the official currency of Morocco and its neighboring countries in the Western Sahara region. It is also one of the list of African countries with the strongest currencies.

The proximity that Morocco shares with Italy makes it easier for her to do business relations with the European Union. The country is one of the fastest-growing economies in Africa. This growth is reflected by the fact that its currency is among the strongest on our list and its current exchange rate with the Dollar is $1 = DH 8.99.

• South African Rand

South Africa is one of the list of African countries with the strongest currencies. Rand is therefore one of the strongest and this is due to recent economic growth of South Africa’s GDP.

Her Gross Domestic Product being $351.4 billion as ranked by the World Bank, the country’s economy is dependent on several sectors such as mining, tourism, and financial services. Its current exchange rate is $1 = R 15.27.

Namibia, Lesotho, Botswana, and Malawi attach their currencies to Rand. The Rand is coded ZAR.

• Egyptian Pound

The Egyptian Pound is the official currency of Egypt. Being the country’s constant currency for close to 200 years, it has made Egypt be on the list of African countries with the strongest currencies. This is done without much of the successful economic struggles fought by Egypt over the years.

Egypt is a populous country in Africa located Northeast of Africa, Cairo–the biggest city in Africa. Today, Egypt is proud of an increasingly prosperous GDP, making the country one of the oldest economies globally, with a banking sector that’s one of the largest banks in Africa.

The current exchange rate of the Egyptian Pound is $1 = E£ 15.71.

• Seychellois Rupee

Seychellois Rupee has successfully included Seychelles, an Indian Ocean country, into the list of African countries with the strongest currencies. The currency is not only valuable but also encouraging to investors.

The main reason the currency is strong is because of the country’s strict monetary policy and the underlying fact that the country is an excellent destination for tourists. Its exchange rate is handsomely and rewardingly beautiful as it is $1 = SRe 12.92. The currency is coded as SCR.

Seychelles imports and exports goods, and thus, its economy is mainly driven by the import-export sector, making it a strong currency in Africa.

• Eritrean Nakfa

Nakfa is the official currency of Eritrea, a country which has made it to the list of African countries with the strongest currencies. Eritrea is an agricultural country with many fertile lands for growing several agricultural products. The always high demand for food has boosted the currency value of the Nakfa in Africa; thus, the economy of Eritrea grows at a fast rate.

The Current Exchange Rate is $1 = Nfk 15.00 on the international market. It is coded as ERN.

• Zambian Kwacha

One of the reasons Kwacha is one of the strongest currencies in Africa is that Zambia is the largest copper producer in Africa. The country has rich mineral resources, and with Copper being the most dominant metal, mining of Copper is done on a large scale. This gives Zambia a considerable boost to earn foreign currency from selling the metals to other countries.

Zambia is located in Southern Africa, and the Kwacha is its official currency. The Kwacha has been with Zambia for more than 54 years since gaining independence from Great Britain and replacing the Zambian Pound.

The Kwacha current exchange rate is $1 = ZK 17.20 and it is coded ZMW.