Do you want to know the top 10 highest currencies in Africa in 2023/2024 and the top 10 strongest currencies?
In this article, we’ll show you the highest currencies in Africa this year and the top 10 strongest currencies to know.
It’s worth noting that currency values fluctuate constantly, so these exchange rates are subject to change.
Additionally, a high currency value doesn’t necessarily indicate a strong economy, as factors such as inflation, national debt, and political instability can also affect a country’s economic health.
As of 2023, the global economy has seen significant changes in currency values.
Africa, too, has seen a shift in the value of its currencies.
In this article, we will look at the top 10 highest currencies in Africa and explore the factors that contribute to their high value.
Top 10 Highest Currencies in Africa 2023/2024
As of 2023, the top 10 highest currencies in Africa are:
| 1.       | Libyan Dinar (LYD) |  1 LYD = 0.74 USD |
| 2.       | Tunisian Dinar (TND) |  1 TND = 0.35 USD |
| 3.       | Ghanaian Cedi (GHS) |  1 GHS = 0.17 USD |
| 4.       | Moroccan Dirham (MAD) |  1 MAD = 0.11 USD |
| 5.       | Botswana Pula (BWP) |  1 BWP = 0.10 USD |
| 6.       | South African Rand (ZAR) |  1 ZAR = 0.068 USD |
| 7.       | Zambian Kwacha (ZMW) |  1 ZMW = 0.049 USD |
| 8.       | Namibian Dollar (NAD) |  1 NAD = 0.065 USD |
| 9.       | Egyptian Pound (EGP) |  1 EGP = 0.063 USD |
| 10.    | Nigerian Naira (NGN) |  1 NGN = 0.0024 USD |
1. Libyan Dinar (LYD)
The Libyan Dinar (LYD) is the highest-valued currency in Africa, with a value of 1 LYD equalling 0.74 USD.
Libya’s economy is largely driven by its oil reserves, which contribute significantly to the country’s GDP.
Despite the political turmoil in the country, the Libyan Dinar remains stable and widely recognized, contributing to its high value.
2. Tunisian Dinar (TND)
The Tunisian Dinar (TND) is the second highest-valued currency in Africa, with a value of 1 TND equalling 0.35 USD.
Tunisia’s economy is diverse and includes sectors such as agriculture, manufacturing, and tourism.
The Tunisian Dinar is widely recognized as a stable and reliable currency, contributing to its high value.
3. Ghanaian Cedi (GHS)
The Ghanaian Cedi (GHS) is the third highest-valued currency in Africa, with a value of 1 GHS equalling 0.17 USD.
Ghana’s economy is driven by sectors such as agriculture, mining, and services.
The Ghanaian Cedi is widely recognized as a stable and reliable currency, contributing to its high value.
4. Moroccan Dirham (MAD)
The Moroccan Dirham (MAD) is the fourth highest-valued currency in Africa, with a value of 1 MAD equalling 0.11 USD.
Morocco’s economy is diverse and includes sectors such as agriculture, manufacturing, and tourism.
The Moroccan Dirham is widely recognized as a stable and reliable currency, contributing to its high value.
5. Botswana Pula (BWP)
The Botswana Pula (BWP) is the fifth highest-valued currency in Africa, with a value of 1 BWP equalling 0.10 USD.
Botswana’s economy is largely driven by the diamond industry, but the country has also invested in other sectors such as tourism, financial services, and manufacturing.
The Botswana Pula is widely recognized as a stable and reliable currency, contributing to its high value.
6. South African Rand (ZAR)
The South African Rand (ZAR) is the sixth highest-valued currency in Africa, with a value of 1 ZAR equalling 0.068 USD.
South Africa’s economy is diverse and includes sectors such as mining, manufacturing, and services.
The South African Rand is widely recognized as a stable and reliable currency, but its value has been affected by political instability and economic challenges in recent years.
7. Zambian Kwacha (ZMW)
The Zambian Kwacha (ZMW) is the seventh highest-valued currency in Africa, with a value of 1 ZMW equalling 0.049 USD.
Zambia’s economy is driven by sectors such as copper mining, agriculture, and tourism.
The Zambian Kwacha is widely recognized as a stable and reliable currency, contributing to its high value.
8. Namibian Dollar (NAD)
The Namibian Dollar (NAD) is the eighth highest-valued currency in Africa, with a value of 1 NAD equalling 0.065 USD.
Namibia’s economy is largely driven by the diamond industry, but the country has also invested in other sectors such as tourism, fishing, and manufacturing.
The Namibian Dollar is widely recognized as a stable and reliable currency, contributing to its high value.
9. Egyptian Pound (EGP)
As of 2023, the Egyptian Pound (EGP) is the ninth highest-valued currency in Africa, with a value of 1 EGP equalling approximately 0.063 USD.
This marks a slight increase in value compared to previous years, reflecting some positive economic developments in Egypt.
Egypt has a diverse economy with a range of industries, including tourism, manufacturing, and agriculture.
However, the country has also faced economic challenges in recent years, including high inflation and a large national debt.
10. Nigerian Naira (NGN)
As of 2023, the Nigerian Naira (NGN) is the tenth highest-valued currency in Africa, with a value of approximately 1 USD = 410 NGN.
The value of the Nigerian Naira has fluctuated significantly over the past few years, with a gradual decline in value against major international currencies such as the US dollar and the Euro.
This decline has been attributed to a number of factors, including Nigeria’s dependence on oil exports, political instability, and economic mismanagement.
We hope that you found our article on the top 10 highest currencies in Africa in 2023/2024 and the top 10 strongest currencies to be helpful.
You may also like our article on the Highest Currencies in The World in 2023/2024.
