Which currencies are the strongest in Africa?

Which currencies are the strongest in Africa?

The U.S dollar has earned popularity around the world as one of the strongest currencies used in trading.

One can ask themselves how the currency landed its popularity and what makes other currencies stronger or weaker than other currencies.

Several criteria are taken into consideration to determine the currency’s value including interest rates, economic policies, and the currency’s stability which raise the currency’s value as investors are drawn to invest knowing that they are guaranteed to get good money in return.

On the other hand, inflation and country debts devalue the currency. In Africa, these are the strongest currencies when compared to the United States Dollar (USD) as of December 10, 2021. The figures used below will be the amount you get when converting each country’s amount of 100 to USD

Tunisian Dinar is currently the strongest currency in Africa as TND 100 amounts to $34.69

Libyan Dinar the second strongest currency amounts to $21.77

Ghanaian Cedi the cedi’s value at 100 is $16.41

Moroccan Dirham is the fourth-strongest currency valued at $10.80

Botswana Pula is stronger than its neighbour’s South African currency. When converting BWP100 you get $8.50.

Seychellois Rupee, the archipelago comprising 15 islands, has managed to maintain its currency’s power in the top ten strong currencies in Africa. SCR100 equates to $7.65

Namibian Dollar; the last on this list is the Namibian dollar which amounts to $6.27

São Tomé and Príncipe’s dobra is the weakest currency in Africa as of the publication of this piece. STD 100 amounts to $0.005