Africa’s currency landscape in 2026 looks markedly different from the usual headlines dominated by inflation and currency devaluations. While several economies continue to struggle with foreign-exchange pressures, a small group of African currencies has managed to maintain relatively strong nominal values against the US dollar.
Strength in this context does not reflect overall economic wealth or purchasing power, but rather the value of one unit of local currency in US dollars, as well as the currency’s relative stability. By this measure, the Tunisian dinar ranks as Africa’s strongest currency in 2025, followed by the Libyan dinar and the Moroccan dirham.
Top 15 Strongest African Currencies
1- Tunisia Tunisian Dinar TND 2.9
2- Libya Libyan Dinar LYD 5.4
3- Morocco Moroccan Dirham MAD 9.2
4- Ghana Ghanaian Cedi GHS 11.3
5- Botswana Botswana Pula BWP 13.3
6- Seychelles Seychellois Rupee SCR 14.3
7- Eritrea Eritrean Nakfa ERN 15.0
8- Namibia Namibian Dollar NAD 17.1
9- Eswatini Swazi Lilangeni SZL 17.2
10- Lesotho Lesotho Loti LSL 17.2
11- South Africa South African Rand ZAR 17.0–17.2
12- São Tomé & Príncipe Dobra STN 21.3
13- Zambia Zambian Kwacha ZMW 23.0
14- Mauritania Mauritanian Ouguiya MRU 39.6
15- Egypt Egyptian Pound EGP 47.5
Rankings are based on exchange-rate data from XE and Wise as of early December 2025.
Tunisia’s dinar, valued at around $0.34 per unit, leads the ranking due to a tightly managed exchange-rate regime, strict capital controls, and relatively contained inflation. While not freely convertible, these policies have helped preserve its nominal strength.
The Libyan dinar follows, supported by vast oil reserves and strict currency regulation, though its official rate often diverges from parallel-market pricing during periods of political tension.
In third place, the Moroccan dirham benefits from a diversified economy and a gradual, well-managed move toward exchange-rate flexibility. Morocco has also kept inflation relatively moderate, reinforcing the currency’s real value.
The Ghanaian cedi recorded a strong rebound in 2025, gaining roughly 30% against the dollar over 12 months amid IMF-backed reforms, tighter monetary policy, and improved investor confidence.
Botswana’s pula stands out as a textbook example of a well-managed small-market currency, supported by diamond exports, strong institutions, and prudent fiscal policy.
Several currencies, including the Namibian dollar, Eswatini lilangeni, and Lesotho loti, are pegged one-to-one with the South African rand, meaning their performance closely mirrors South Africa’s monetary policy and external balances.
While these pegs provide stability and facilitate regional trade, they also transmit rand volatility directly into neighboring economies.
Currencies such as the Egyptian pound and Mauritanian ouguiya rank lower due to lower nominal value per unit, not necessarily weaker economic fundamentals. Egypt’s currency, for example, remains supported by tourism revenues, Suez Canal income, remittances, and ongoing IMF-backed reforms, despite significant devaluations in recent years.
Africa’s strongest currencies in 2025 highlight the role of exchange-rate management, capital controls, export revenues, and institutional credibility. Nominal strength alone does not equate to economic prosperity, but it does offer insight into how different countries navigate currency stability amid global and regional pressures.
Follow the latest news on Google News
