Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,121 members, 7,807,388 topics. Date: Wednesday, 24 April 2024 at 01:01 PM

Top 10 Weakest Currency In Africa (See List) - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Top 10 Weakest Currency In Africa (See List) (81404 Views)

NDIC Places Properties Of 8 Liquidated Mfbs For Sale (see List) / Nigerian Naira Fast Becoming The Weakest Currency In Africa / Lady Finds Biafran Currency In Her Father's Cupboard (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply) (Go Down)

Re: Top 10 Weakest Currency In Africa (See List) by caprini1: 9:17pm On Jul 18, 2018
Oritzy:
Ghana cedis is one of the strongest in Africa..
Please can you explain more,because the purchase power of the cedi is almost zero ,compared to the naira.

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by heavylaro: 9:17pm On Jul 18, 2018
OP what is the source of your post because it is misleading. Sierra Leone currency called Leone which is 7700 to 1 dollar is not listed. I am sure some African currencues are also missing like the Wast African Franc....Alway check facts before rushing to post !

4 Likes 1 Share

Re: Top 10 Weakest Currency In Africa (See List) by pawesome(m): 9:18pm On Jul 18, 2018
So Zimbabwean dollar get use pass Naira? angry

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by phreakabitoo: 9:18pm On Jul 18, 2018
FearlessDapsin:
Nigeria, a country cursed with very sadistic and useless sets of citizens. Any positive news about Nigeria is hastily dismissed as a lie or propaganda while every negative news about this great country of ours is heartily welcomed and masturbated over with joy. And such people expect Nigeria to work for them Mtcheew

Thunder fire Nigeria.
I am making money either ways. Very good money at that, so... grin grin
Re: Top 10 Weakest Currency In Africa (See List) by Nobody: 9:18pm On Jul 18, 2018
Sapeleboy911:
Even with our oil Nigeria is among the poorest country in the world. Even Ghana here which is like a Local government in Nigeria. Is far ahead of Nigeria in all areas( no be bad onesooo) Yet we pride ourselves as Giant of Africa. Imagine Nigeria Naira among the weakest currency in Africa. The same giant of Africa.
Na only God go punish all this useless politicians both dead and alive. You guys will never find peace even in your graves.

When Ghana has ethnic groups numbering over two hundred and fifty, then you can judge Nigeria by Ghanaian standards.

Given the different entities that make up Nigeria plus the civil war, it's actually an admirable feat that the country still manages to hold a little of its own in the face of numerous challenges and external influences given their interests that have structured the country in a way to favour them.

Nigeria is a country with different ethnic group constantly at political struggle with each other divided by various sentiments and prejudices. It will take a very radical approach to set Nigeria on the right path. When we operated on regions was the best era of Nigeria, this federalism we claim to practice is not done to ita full extent all because of political interests of various parts of the country.

We have been at democracy since 99 and we are just about to pass a bill that will implement state police, how many had to die before the Senate found it was necessary? All because there is a distrust among ethnic groups or one political zone using it to its advantage.

Either we practice true federalism or we restructure. This system is obviously faulty.

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by eluquenson(m): 9:18pm On Jul 18, 2018
Nigeria always making the list of bad or negative things
Re: Top 10 Weakest Currency In Africa (See List) by Nobody: 9:19pm On Jul 18, 2018
queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/




Of Nigeria no dey dere, make my hand bend
Re: Top 10 Weakest Currency In Africa (See List) by Nobody: 9:19pm On Jul 18, 2018
Niyeal:
I Kno My Naija Naira Wil Be There,
First To Comment,
Shower Me With Likes Now

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by GeoSpatial(m): 9:19pm On Jul 18, 2018
to approve the genuineness of the post, where is Zimbabwe

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by gcof(m): 9:19pm On Jul 18, 2018
Danelo:
See as Dollar dey upress our Naira.

wait ooooo so if i go to Guinea with my last 10k i will be a big boy?

#10000 = 3million+ in Guinea.
lol but what you do not know is that for instance, if 10k can buy you a plate of food in Nigeria, 3million+ cannot buy you that same plate of food in Guinea

2 Likes

Re: Top 10 Weakest Currency In Africa (See List) by AreaFada2: 9:20pm On Jul 18, 2018
jibbish:
Whoever composed this list is daft, just because you compare a currency to the dollar doesn't make it weak.
But what do I know, children of Hate will blame it on Buhari

Seriously very ignorant my brother. The OP knows little about money and economy.

On the whole CEFA is not weak at all. It has maintained its value far better over time. I remember using Cefa 20 years ago on a visit to Cotonou.

The Naira was way higher in value. Now the difference is small.

If Nigeria was a good exporting country, with low inflation & relative currency stability, the rate to the dollar wouldn't matter much. Japan deliberately left its Yen rate as it is.

Before Euro, the Deutschmark supported by a bigger & stronger economy than UK left its rate to hover around DM3 = £1.

Even the Pound was coupled to DM in the European Exchange Rate Mechanism until almost free fall of the Pound on 16th September 1992. A day called Black Wednesday in British financial history.

The mere exchange rate to dollar doesn't tell even half the story.

If at N360 to a dollar, minimum wage is like 125k, economy is stable and booming, there are jobs/job security, low inflation and we have a trade surplus, the current exchange rate would be totally fine.

9 Likes 2 Shares

Re: Top 10 Weakest Currency In Africa (See List) by Shampoo77: 9:21pm On Jul 18, 2018
Wrong information operator. since the Zimbabwe dollars is not there. Zimbabwe dollar is the weakest in Africa. Pls stop misleading readers.
Maket:

Gbam
QED

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by tunary(m): 9:21pm On Jul 18, 2018
Nigerian is always in the news for the wrong reason

1 Like 1 Share

Re: Top 10 Weakest Currency In Africa (See List) by Horus(m): 9:21pm On Jul 18, 2018

https://www.youtube.com/watch?v=IiJFvRqVxBQ

Top 10 Weakest Currencies in Africa as of 2018
Re: Top 10 Weakest Currency In Africa (See List) by Dhedhayur007: 9:22pm On Jul 18, 2018
Na wah ooooo cotonnu wey we dey supply our oil n light no even dey the list undecided
Re: Top 10 Weakest Currency In Africa (See List) by MrGerald(m): 9:22pm On Jul 18, 2018
cyndy1000:
Even Ghana isn't there
Continue to say even Ghana, now they're more developed than your shithole country, and for your information Ghana cedis is 4.70 to 1 USD.
Re: Top 10 Weakest Currency In Africa (See List) by Jodhar: 9:23pm On Jul 18, 2018
I just knew our naira would be there sad
Re: Top 10 Weakest Currency In Africa (See List) by Akorkor(f): 9:24pm On Jul 18, 2018
queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/


This is wrong. Totally wrong.

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Positivepoint(m): 9:25pm On Jul 18, 2018
queensera:
2018 List of top 10 weakest currency in Africa has just being revealed. Nigeria currency (Naira) make it to the list as the 9th weakest currency in Africa. While guinea currency (Guinea franc) top the list.

Source:
http://nairaplus.com/2018/07/see-list-of-top-10-weakest-currency-in-africa/

Top 10 Worthless Currencies In Africa – 2018
Anele Anele
7 months ago

These currencies below are some of the most unstable, weakest and worthless currencies in Africa. (read also - Top 10 of the strongest currencies in Africa).

How worthless are this currencies you may ask. Well take Sao tome and principle for instance, a bottle of coke is sold for around 19,500 Dobra and to eat in an inexpensive you will spend somewhere around 140,000 Dobra for a meal...

now that you have an idea on how weak these currencies are let's delve into the article proper

Top 10 Worthless Currencies In Africa - 2018

10. Malawian Kwacha (1 USD = 722 Malawian kwacha)
Top 10 Worthless Currencies In Africa - 2017

Image source: nyasatimes.com

The kwacha is the currency of Malawi as of 1971, replacing the Malawian pound. Currently the Malawian Kwacha exchanges for 722 for 1 USD.

9. Rwandan Franc (1 USD = 855.56 RWF)
The Rwandan franc is the currency of Rwanda, although it was introduced in 1960. Rwanda began issuing its own francs in 1964. Currently Rwanda francs exchanges at 855.56 RWF for 1 USD.

Top 10 Worthless Currencies In Africa - 2017

image source: geoba.se

8. Dr Congo Franc (1 USD = 1596 Congolese franc)
Top 10 Worthless Currencies In Africa - 2017

source: bankufranck

Africa’s leading copper producer has been affected by low commodity prices and cutbacks in the mining sector, which have eaten away at foreign exchange reserves and heaped pressure on the franc. Currently 1USD exchanges for 1596 Congolese franc.

7. Burundian Franc (1 USD = 1749 BIF)
Top 10 Worthless Currencies In Africa - 2017

Image credit : banknotenews.com

In other to tackle the sharp drop in the value of the local currency against the dollar. Burundian Govt has already imposed restrictions on food exports to neighbouring countries in a bid to keep inflation down.

6. Tanzanian shilling (1 USD = 2234 shilling)
Top 10 Worthless Currencies In Africa - 2017

Image credit: Buzzkenya

Tanzania can boast of political stability, relative safety and been among the top 5 largest economy in east Africa. But sadly they can't boast of having one of the best currency in Africa.

5. Malagasay Ariary (1 USD = 3199.65 Ariary)
Top 10 Worthless Currencies In Africa - 2017

Image credit : mypivots.com

Despite achieving independence in 1960, Madagascar is still largely run like a colony with an economy closely tied to resource extraction. Lack of investment in sustainable industries has retarded Madagascar's economic development significantly.

The Ariary is the currency of Madagascar. And as of December 2017, Malagasy Ariary is exchanged at 3199.65 Ariary for 1 USD.

4. Ugandan Shilling (1 USD =3603 UGX)


Image source : e-allmoney.com

The primary cause behind the worthlessness of the Ugandan Shilling is apparently due to country's persistent trade deficit. The country imports more than it exports, so money is constantly leaving the country, which undermines the value of the shilling

3. Sierra Leonean Leone (1 USD = 7670 SLL)
Top 10 Worthless Currencies In Africa - 2017

Image source: standardtimespress.org

Sierra Leone is and has always been a very poor African country, and just like many of those rapidly growing, fundamentally flawed economies. It is plagued by trade deficit. In 2016 alone, Sierra Leone exported $465M and imported $956M.

Currently sierra Leonean Leone exchanges for 7670 SLL for 1 USD.

2. Guinean Franc (1 USD = 8998 GNF)
Top 10 Worthless Currencies In Africa - 2017

Image credit : Banknotenews.com

Another west African currency suffering at the hand of worthlessness is the Guinean Franc . The Guinean Franc is the second weakest currency in Africa. Currently 1 USD exchanges for 8998 gnf.

1. Sao tome and principle Dobra (1 USD = 20808 STD)
Top 10 Worthless Currencies In Africa - 2017

image credit : chirkup.me

The Sao tome and principle Dobra is not a strong currency on the international market it is also the weakest currency in Africa. Against the dollar the dobra is quite weak. Currently, 20808 STD exchanges for 1 USD.

https://listwand.com/2017/12/top-10-worthless-currencies-in-africa-2017/

2 Likes

Re: Top 10 Weakest Currency In Africa (See List) by autonomous22: 9:25pm On Jul 18, 2018
Buhari
Re: Top 10 Weakest Currency In Africa (See List) by Galaticos444: 9:26pm On Jul 18, 2018
Danelo:
See as Dollar dey upress our Naira.

wait ooooo so if i go to Guinea with my last 10k i will be a big boy?

#10000 = 3million+ in Guinea.
but ur money won't av any value cos a bunch of banana might going for 100,000 guinea currency jst like wot we av in Zimbabwe

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Akorkor(f): 9:27pm On Jul 18, 2018
caprini1:
Please can you explain more,because the purchase power of the cedi is almost zero ,compared to the naira.

Don’t mind bloggers. Cedis is very weak compared to Naira. People in ghana even prefer to buy stuff from Nigeria and when you exchange cedis to dollar is

1cedis to Dollar = 4.75cedis.

2 Likes 1 Share

Re: Top 10 Weakest Currency In Africa (See List) by Johnadelaide00: 9:27pm On Jul 18, 2018
Lol... fake list. Sierra Leone SLL is currently Le8,450 to $1

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by Horus(m): 9:28pm On Jul 18, 2018
Even Zimbabwe is not there
Re: Top 10 Weakest Currency In Africa (See List) by ozo13(m): 9:29pm On Jul 18, 2018
U mean Zimbabwean currency is better than d naira!?.nawao
Re: Top 10 Weakest Currency In Africa (See List) by DonFreshmoney(m): 9:29pm On Jul 18, 2018
Where is Zimbabwe dollars? Nonsense post
Re: Top 10 Weakest Currency In Africa (See List) by heavylaro: 9:30pm On Jul 18, 2018
Positivepoint:

Top 10 Worthless Currencies In Africa – 2018
Anele Anele
7 months ago

These currencies below are some of the most unstable, weakest and worthless currencies in Africa. (read also - Top 10 of the strongest currencies in Africa).

How worthless are this currencies you may ask. Well take Sao tome and principle for instance, a bottle of coke is sold for around 19,500 Dobra and to eat in an inexpensive you will spend somewhere around 140,000 Dobra for a meal...

now that you have an idea on how weak these currencies are let's delve into the article proper

Top 10 Worthless Currencies In Africa - 2018

10. Malawian Kwacha (1 USD = 722 Malawian kwacha)
Top 10 Worthless Currencies In Africa - 2017

Image source: nyasatimes.com

The kwacha is the currency of Malawi as of 1971, replacing the Malawian pound. Currently the Malawian Kwacha exchanges for 722 for 1 USD.

9. Rwandan Franc (1 USD = 855.56 RWF)
The Rwandan franc is the currency of Rwanda, although it was introduced in 1960. Rwanda began issuing its own francs in 1964. Currently Rwanda francs exchanges at 855.56 RWF for 1 USD.

Top 10 Worthless Currencies In Africa - 2017

image source: geoba.se

8. Dr Congo Franc (1 USD = 1596 Congolese franc)
Top 10 Worthless Currencies In Africa - 2017

source: bankufranck

Africa’s leading copper producer has been affected by low commodity prices and cutbacks in the mining sector, which have eaten away at foreign exchange reserves and heaped pressure on the franc. Currently 1USD exchanges for 1596 Congolese franc.

7. Burundian Franc (1 USD = 1749 BIF)
Top 10 Worthless Currencies In Africa - 2017

Image credit : banknotenews.com

In other to tackle the sharp drop in the value of the local currency against the dollar. Burundian Govt has already imposed restrictions on food exports to neighbouring countries in a bid to keep inflation down.

6. Tanzanian shilling (1 USD = 2234 shilling)
Top 10 Worthless Currencies In Africa - 2017

Image credit: Buzzkenya

Tanzania can boast of political stability, relative safety and been among the top 5 largest economy in east Africa. But sadly they can't boast of having one of the best currency in Africa.

5. Malagasay Ariary (1 USD = 3199.65 Ariary)
Top 10 Worthless Currencies In Africa - 2017

Image credit : mypivots.com

Despite achieving independence in 1960, Madagascar is still largely run like a colony with an economy closely tied to resource extraction. Lack of investment in sustainable industries has retarded Madagascar's economic development significantly.

The Ariary is the currency of Madagascar. And as of December 2017, Malagasy Ariary is exchanged at 3199.65 Ariary for 1 USD.

4. Ugandan Shilling (1 USD =3603 UGX)


Image source : e-allmoney.com

The primary cause behind the worthlessness of the Ugandan Shilling is apparently due to country's persistent trade deficit. The country imports more than it exports, so money is constantly leaving the country, which undermines the value of the shilling

3. Sierra Leonean Leone (1 USD = 7670 SLL)
Top 10 Worthless Currencies In Africa - 2017

Image source: standardtimespress.org

Sierra Leone is and has always been a very poor African country, and just like many of those rapidly growing, fundamentally flawed economies. It is plagued by trade deficit. In 2016 alone, Sierra Leone exported $465M and imported $956M.

Currently sierra Leonean Leone exchanges for 7670 SLL for 1 USD.

2. Guinean Franc (1 USD = 8998 GNF)
Top 10 Worthless Currencies In Africa - 2017

Image credit : Banknotenews.com

Another west African currency suffering at the hand of worthlessness is the Guinean Franc . The Guinean Franc is the second weakest currency in Africa. Currently 1 USD exchanges for 8998 gnf.

1. Sao tome and principle Dobra (1 USD = 20808 STD)
Top 10 Worthless Currencies In Africa - 2017

image credit : chirkup.me

The Sao tome and principle Dobra is not a strong currency on the international market it is also the weakest currency in Africa. Against the dollar the dobra is quite weak. Currently, 20808 STD exchanges for 1 USD.

https://listwand.com/2017/12/top-10-worthless-currencies-in-africa-2017/

Good job...OP needs to learn from this
Re: Top 10 Weakest Currency In Africa (See List) by Ugosample(m): 9:30pm On Jul 18, 2018
Blackfyre:


When Ghana has ethnic groups numbering over two hundred and fifty, then you can judge Nigeria by Ghanaian standards.

Given the different entities that make up Nigeria plus the civil war, it's actually an admirable feat that the country still manages to hold a little of its own in the face of numerous challenges and external influences given their interests that have structured the country in a way to favour them.

Nigeria is a country with different ethnic group constantly at political struggle with each other divided by various sentiments and prejudices. It will take a very radical approach to set Nigeria on the right path. When we operated on regions was the best era of Nigeria, this federalism we claim to practice is not done to ita full extent all because of political interests of various parts of the country.

We have been at democracy since 99 and we are just about to pass a bill that will implement state police, how many had to die before the Senate found it was necessary? All because there is a distrust among ethnic groups or one political zone using it to its advantage.

Either we practice true federalism or we restructure. This system is obviously faulty.

Ghana has at least 60 to 100 tribes

that were just lucky to have an Nkrumah that unified them and made them see each other as the same and not different, not like our useless founding fathers that polarised us from day 1.


So that's not an excuse

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by ioreth69(f): 9:30pm On Jul 18, 2018
Homeboiy:
And today Buhari asked Senate to approved

248. something billion


U go fear say naija get this kind money and I no see 20# buy sugar
hmmm,very annoying
Re: Top 10 Weakest Currency In Africa (See List) by oloriLFC(f): 9:30pm On Jul 18, 2018
What about Zimbabwean currency abi no be millions dem dey take buy ordinary foodstuff?

1 Like

Re: Top 10 Weakest Currency In Africa (See List) by cyberwinner1(m): 9:30pm On Jul 18, 2018
Ordinary Ghana is not even there!

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Reply)

Man Strips Unclad Inside Gtbank As His Money Vanished From His Account (video) / Inside Tony Ezenna House In Bourdillon, Ikoyi, Lagos (Pictures) / Can 200,000 Naira Start A Good Business In Nigeria?

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 57
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.