In late July 2017, the World Bank released a list of ”The Top 10 Weakest Currencies In The World 2017, a survey that was championed by the International Monetary Fund. As if that was not enough, the World Bank also released the list of the “Top 10 Strongest Currencies” In Africa 2017. ZambianMusic.net brings you the full list below.
The highest currency in Africa is placed against the most used currency in the world “The US Dollar”
1. Libya - Libyan Dinar – LYD
Libya is known for it vast deposit of crude oil. Aside this, I guess you must have heard of their former ruler Gaddafi. But did you know that the currency of Libya, the Libyan Dinar is the strongest currency in Africa ? Yes, it is. One US Dollar is equivalent to 1.4116 Libyan dinars.
2. Tunisia - Tunisian Dinar TND
The Tunisian Dinar comes in after the Libyan Dinar as the second most valuable currency in Africa. The exchange rate of this currency to the dollar, 1 US dollar is equivalent to 2.2814 Tunisian dinars.
3. Ghana - Ghananian Cedis GHS
Ghana (Ghanaians) with a growing and well managed economy, It has earned them third spot on this list. Many years back, Ghana’s situation could not even be compared to what is now. Comparing it with the dollar, the currency is strong, it is approximately 4 Ghanaian cedis that’s one U.S dollar.
4. Sudan - Sudanese Pounds SDG
The Sudanese Pounds is the currency of Sudan, it is one of the strongest currencies in Africa. 6.4 Sudanese pounds is equal to one United States dollar.
5. Morocco - Moroccan Dirham MAD
Morocco, a country in Northern Africa, uses the Moroccan Dirham. According to today’s exchange rate, 9.9 Moroccan Dirham is equivalent to one dollar.
6. Botswana - Botswana Pula BWP
Botswana is one of the few countries in Africa whose currency hasn’t depreciated below the red line. As of today, 10.8 Botswana Pula is equal to one dollar.
7. South African Rand ZAR
The South African Rand is the currency of South Africa. This should have been up the ladder but the currency is gradually losing its value ever since Nelson Mandela passed away. Currently, one dollar is equal to 14 South African Rands.
8. Egypt – Egyptian Pounds EGP
Despite the economic climate affecting this dry land, Its currency is still stronger than so many African currencies. 15.4 Egyptian pounds is equal to One dollar
9. Eritrea – Eritrean Nakfa ERN
The Eritrean Nakfa comes in number nine. 15.5 Eritrean Nakfa is equivalent to One US Dollar.
10. Zambia – Zambian Kwacha ZMW
Zambia could be one of the poorest countries in Africa with a very small GDP, but, atleast, its currency value and strength beats that of the the remaining 44 countries. One US Dollar is equivalent to 9.24 Zambian kwachas.
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