Are you searching for the Best Currencies in Africa?There are different currencies for different countries all over the world and it is no news that some currencies have higher value than other currencies. Several factors play a role in differing currency values e.g market forces, economic conditions of the country, foreign trading, inflation, economic instability and so many more. Currencies determine Foreign exchange rates. The commonly used and popular currency is the Dollar, the US Dollar to be exact. African currencies have a long way to go in increasing their value but they are trying their best. In this article, we will be looking at the top ten best currencies in Africa. If you’ve been wondering which African country currently has the highest currency value, we’ve got you covered.This article will cover search related keywords such as;
Let’s get to it. Shall we?
1. Libyan Dinar:
Dinar is the official currency of Libya and it happens to be the highest currency in the whole of Africa. Well-done to Libya! The currency was introduced in 1971, September to be precise when they were formerly using The Pound. The currency is available in banknotes and coins. The coins are in Dirhams and the bank notes are in 1/4, 1/2,1, 5, 10, 20 and 50 Dinars. Libyan Dinar equals to 0.72 and ₦262 for Nigeria.
2. Tunisian Dinar.
The Dinar is the currency for Tunisia.When considering Top and best currencies in Africa, the Tunisian Dinar is second in Africa. They have bank notes and coins. The bank notes are in Dinar usually abbreviated as DT and are 5, 10, 20 and 50 Dinars. Their coins are in Millimes and are 10, 20, 50, 100 and 200 Millimes. The Dinar (Tunisian) equals to 122.15 Naira or 0.34 US Dollars. Tunisia is a North African country located around the Sahara desert. Tunisian Dinar is the second highest currency in Africa.
3. Ghana’s Cedi
The Ghanaian official currency is Cedi. It is the third highest currency in Africa. One Ghanaian Cedi equals to 0.20 US Dollars or 72.65 Naira in Nigerian money. The Cedi is the only legal tender in Ghana currently. The Cedi has bank notes and coins. The Central Bank in Ghana that issues the currency is called the Bank of Ghana.
4. Moroccan Dirham
The Dirham is the official currency of Morocco. The Dirham is issued by bank Al-Maghrib, that is the Central Bank of Morocco. One Moroccan Dirham equals to 38.09 Naira and 0.11 United States Dollars. The symbol representing the currency Dirham is DH and it is available in both banknotes and coins.
Okay, so ranking fifth in the list of top 10 highest currencies in African continent is the Botswana official currency called the Pula. One Pula equals to 35.18 Naira and 0.097 US Dollars. Botswana which is home to much of the Kalhari desert has Pula to mean, “Rain”. This is the literal meaning because rain is scarce there.
6. Zambian Kwacha
Next in the rank is the Zambian currency for the country Zambia called Kwacha. One Kwacha equals to 30.48 Naira or 0.084 US Dollars. The currency is issued by the Bank of Zambia. The Kwacha is also unofficially used in Zimbabwe currency is available in bank notes and coins as well.
7. South African Rand
The official currency of South Africa is the Rand. One Rand equals 27.12 Naira or 0.075 United States Dollars. The currency is issued by the South African Reserve Bank. The Rand is not only used in South Africa but also in Lesotho, Namibia and Swaziland. There are also other unofficial users of the Rand currency.
8. Swazi Lilangeni.
Swazi also called Swaziland or Eswatini is a land locked country located near South Africa. Their official currency is the Lilangeni. One Lilangeni is 0.0749 US Dollars or 27.20 Nigerian Naira.
9. Namibian Dollar
The country of Namibia has been using the Namibian Dollars since 1993. The currency is issued by the Bank of Namibia. One Namibian Dollars equals to 0.075 US Dollars and it makes our list.
10. Eritrean Nakfa
The Eritrean Nakfa was introduced to Eritrea in 1997. The Nakfa took the place of the Ethiopian Birr which was formerly used. The currency is available in bank notes and in coins. One Nakfa equals to 15 Nakfas at a fixed rate. It is the tenth highest currency in Africa.This undeniably one of the best currencies in Africa.
So, you asked for the best currencies or the highest currencies in Africa, right?,there you have it delivered! We hope you learnt what you were looking to learn.