5 Most valuable currencies in Africa for 2020
March 7, 2020
A country’s currency tells a lot about its economy and living standards of the people. There is a huge misconception that the biggest and most popular nations often have the best currencies; this is false – especially when Africa is concerned
Libyan Dinar (1 USD = LD 1.41):
The Libyan Dinar remains the strongest money in Africa. In Libya, the Central Bank of Libya has a programme that only sells a limited number of dollars to its citizens.
Tunisian Dinar (1 USD = DT 2.87):
Colonized by the French, Tunisia used the French Franc as its currency for many years. But in 1960, the country replaced the franc with dinar after its independence. The country’s monetary policy to export or import dinars or convert them to other currencies has enabled the dinar to be among the highest in the continent.
Ghanaian Cedi (1 USD = GH₵ 5.49):
Despite all the changes made to the Ghana currency it still holds the number 3 spot in Africa. In 2007, the currency was replaced to Cedi and ever since the GDP of the country has improved drastically.
Moroccan Dirham (1 USD = MAD 9.89):
The Moroccan Dirham is the de-facto medium of exchange in
the Western Sahara region. Its de-facto state makes it one of the highest
currencies in Africa.
Botswana Pula (1 USD = P 10.90):
Talk of national acceptance then Botswana Pula is the real
deal. It serves as an attractive currency because traders trade it on the
Johannesburg Stock Exchange, which is the largest stock exchange in Africa.
Zambian Kwacha (1 USD = ZK 13.14):
The Zambian Kwacha has an attractive value because the country is the largest producer of copper in Africa.
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