There are approximately 54 currencies in Africa. However, not all of these currencies are economically viable. The viability of the economy of these African countries can be determined by the strength of their currencies.
The information below will show you the top 10 African countries with the strongest currencies. It may surprise you that Nigeria is not among the countries with the strongest currencies in Africa, neither are many of the oil-producing counties in Africa.
It worth R8.53. Many believe that the country’s currency is very strong in Africa because of its oil deposit and exploration, which helps strengthen the currency.
The currency worth R3.79. Ghana may not have crude oil, but the country is rich in Gold. The gold deposit is located mainly in the Ashanti region of the country. The currency got revalued a number of times and the latest revaluation occurred in 2007. Some believe this value may not last for long.
South African rand
The currency has been devalued some 2 years ago. It is still undoubtedly among the strongest currencies in Africa.
It worth R.6.65. This year alone, the currency had appreciated in value as it gains almost 20% against the South African currency, Rand.
It is worths R1.01. Though Eritrea and Ethiopia have parted ways, the two of them still have currencies that have lots of similarities in value. Their currency is also as strong as that of South Africa. The Eritrean currency is pegged to the US dollar and this also contributes to its strength.
The is currency worth R1.85. After the colonial era, the currency of the country was revalued. It had undergone a number of revaluation over time with the latest being in 2011. This last revaluation occurred after south Sudan separated from north Sudan. The revaluations tend to shore up the strength of the currency
The currency is worth R1.20. For many years, the Pula had been a stronger currency compared to the Rand. This has been made possible by the political and economic structures of the country. Any have hailed the country’s kind of democracy as the best in Africa.
The currency is worth R1.29. This currency may be strong today, but it neither had nor always been like this. It was actually very weak sometimes ago, but the economic revival being put in place by the government is helping things out.
Value of the currency is R1.7.5, In times past, the country was a colony of Northern Ehodesia.teh country sas rarely had any economic success. There was even a time when 1 USD exchanged for 5,120 Kwacha. The currency was taken through revaluation in January 2013 and that improves ion the value o the currency.
The currency of the Egyptians is the same as 1.50. The country is known for a number of political turmoil. Despite all that, the country has maintained their heads when the going was touch and they have keep their currency very strong and valuable.