The Top 10 Strongest African Currencies in 2024

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This week, Zimbabwe launched a new gold-backed currency known as the Zimbabwean Gold, or simply "ZiG". This new currency is intended to combat the inflation problem in Zimbabwe. Since its launch, Zimbabwe now boasts the strongest currency in the Southern African region (SADC), surpassing the South African Rand (ZAR).

This led me to wonder: what is the strongest currency in Africa? To determine this, I will list 10 African currencies and compare their value against the United States Dollar (USD).

For example, 1 USD is equivalent to 151 JPY (Japanese Yen), and this is the basis on which we will compare all other currencies featured in this list. We will count down from 10 to 1.

All exchange rates listed here are according to the 6th of May 2024.

10. Mauritian Rupee

The Mauritian Rupee has been in use since 1877 (month unknown) and it is currently trading at 1 USD = 46.30 MUR.

9. Egyptian Pound

The Egyptian Pound has been in use since 1834 and it is currently trading at 1 USD = 47.95 EGP.

8.Zambian Kwacha

The Zambian Kwacha has been in use since July 1966 and it is currently trading at 1 USD = 24.18 ZMW.

7. Namibia Dollar and South African Rand

The Namibian Dollar has been in use since September 1993 and it is currently trading at 1 USD = 18.48 NAD.

While the South African Rand has been in use since February 1961 and it is currently trading at 1 USD = 18.48 ZAR.

6. Seychelles Rupee

The Seychelles Rupee has been in use since 1914 (month unknown) and it is currently trading at 1 USD = 13.64 SCR.

5. Zimbabwean Gold

The Zimbabwean Gold has been in use since 8 April 2024 and it is currently trading at 1 USD = 13.67 ZIG.

4. Ghanaian Cedi

The Ghanaian Cedi has been in use since July 1965 and it is currently trading at 1 USD = 13.80 GHS.

3. Moroccan Dirham

The Moroccan Dirham has been in use since October 1960 and it is currently trading at 1 USD = 10.03 MAD.

2. Libyan Dinar

The Lybian Dinar has been in use since May 1986 and it is currently trading at 1 USD = 4.86 LYD.

1. Tunisian Dinar

The Tunisian Dinar has been in use since June 1958 and it is currently trading at 1 USD = 3.103 TND.