In May 2025, a new currency ranking highlighted the top-performing currencies in Africa amid challenges faced by the naira.
Notably, the Tunisian dinar emerged as the continent’s strongest currency, with an exchange rate of 2.95 dinars to the dollar.
Additionally, the Ghanaian cedi showed impressive resilience and performance, securing its position among the strongest currencies in Africa during this period. …CONTINUE READING
According to a new ranking, in April 2025, the Tunisian Dinar strengthened, emerging as Africa’s strongest currency at 2.95 per dollar.
The Tunisian currency’s gain was attributed to tight foreign exchange regulations, monetary policy tightening, and a stable economic environment.
The dinar and other African currencies, such as Libya, Morocco, and Botswana, have remained strong
Also, the Ghanaian currency has seen improvements relative to previous performance, emerging as one of the top-performing currencies in Africa, with analysts predicting further gains for the cedi.
The move was due to some monetary policy measures in the past month, which provided relief for the cedi.
In the review period, the cedi’s resurgence helped to reduce import costs. The Ghanaian currency improved significantly, rising from 15.46 cedi per dollar to 13.20, edging out Seychelles, Eritrea, and Botswana on the fourth spot.
Like Ghana, several African countries rely heavily on imports for essential goods such as fuel, machinery, and pharmaceuticals. Experts say a weak currency means that imports become more expensive, worsening inflation and reducing purchasing power.
A currency’s strength is perceived as a show of economic stability and sound fiscal management. In May, the countries in the top 10 saw significant improvements in their currency values
Business Insider reports that while South African, Namibian, and Lesotho currencies slumped, Eritrean currency remained steady.
The report said that the South African rand dropped from the eighth position to the 10th, dipping below Namibian and Lesotho currencies.
The rand depreciated from 18.62 per dollar to 17.88.
The 10 strongest African currencies
Tunisia dinar: 2.97 per dollar
Libya: 5.43 per dollar
Morocco 9:17 per dollar
Ghana cedi: 13.20 per dollar
Botswana: 13.38 per dollar
14.21 per dollar
Eritrea: 15.00 per dollar
Namibia: 17.83 per dollar
Lesotho: 17.83 per dollar
South Africa: 17.88 per dollar
