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Top Ten African Currencies Compared To US Dollar - Business - Nairaland

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Top Ten African Currencies Compared To US Dollar by Islie: 2:16pm On May 11
Africa is the world’s second-largest and second-most populous continent, known for its diverse cultures, landscapes, and wildlife.

It’s home to some of the oldest civilisations, stunning natural wonders like the Sahara Desert and Victoria Falls, and a rich tapestry of languages and traditions.

Africa, a home to 57 countries, is a continent abundant in natural resources, yet it’s often linked with an economy in decline, particularly due to the aftermath of the COVID-19 pandemic, conflicts within its nations, and disruptions in global supply chains.

However, contrary to this prevailing narrative, many African economies demonstrate resilience. Below is the list of top ten countries with the highest currency in Africa compared to the US Dollar:


1. Tunisian Dinar (Tunisia) Currency Name: DinarCode: TNDCurrent Exchange Rate: $1 = 3.14

2. Libyan Dinar (Libya) Currency Name: DinarCode: LYDCurrent Exchange Rate: $1 = 4.86

3. Moroccan Dirham (Morocco) Currency Name: DirhamCode: MADCurrent Exchange Rate: $1 = DH 10.02

4. Botswana Pula (Botswana) Currency Name: PulaCode: BWPCurrent Exchange Rate: $1 = 13.61

5. Seychellois Rupee (Seychelles) Currency Name: Seychellois RupeeCode: SCR Current Exchange Rate: $1 = SRe 13.86

6.Ghanaian Cedi (Ghana) Currency Name: CediCode: GHCCurrent Exchange Rate: $1 = GH₵ 13.89

7. Eritrean Nakfa (Eritrea) Currency Name: NakfaCode: ERNCurrent Exchange Rate: $1 = Nfk 15.00

8. South African Rand (South African) Currency Name: RandCode: ZARCurrent Exchange Rate: $1 = R 18.35

9. Zambian Kwacha (Zambia) Currency Name: KwachaCode: ZMWCurrent Exchange Rate: $1 = ZK 27.37

10. Egyptian Pound (Egypt) Currency Name: Egyptian PoundCode: EGPCurrent Exchange Rate: $1 = E£ 47. 40

https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/

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Re: Top Ten African Currencies Compared To US Dollar by brain54(m): 2:24pm On May 11
I am not surprised the north Africans dominate the list...


Personally, I feel anything after the 3rd on the list is poor.

Libya in spite of how dis-stabilised their economy is due to war seems to be doing well!

213 Likes 17 Shares

Re: Top Ten African Currencies Compared To US Dollar by Zonefree(m): 2:26pm On May 11
6.Ghanaian Cedi (Ghana) Currency Name: CediCode: GHCCurrent Exchange Rate: $1 = GH₵ 13.89
What's Ghana doing here? undecided

About 5 pack of 80gram indomie noodles in Ghana is 55 Ghana Cedis, that's above $4.

While $4 in Nigeria can get you over 10 pack of same 80gram indomie noodles.

235 Likes 32 Shares

Re: Top Ten African Currencies Compared To US Dollar by muyico(m): 2:29pm On May 11
Nigeria is number what?

15 Likes 1 Share

Re: Top Ten African Currencies Compared To US Dollar by Efuaye(m): 2:30pm On May 11
In early ’80s Naira was equal to a dollar but misgovernance by successive governments have left us where we are now!
Nigeria, now a country of IDPs and palliatives.

78 Likes 3 Shares

Re: Top Ten African Currencies Compared To US Dollar by helinues: 2:32pm On May 11
Na kuku the rain packed both birds and chicken together

101 Likes 4 Shares

Re: Top Ten African Currencies Compared To US Dollar by Sapasenator: 2:33pm On May 11
3,779.50 Ugandan Shilling = 1 USD as at today.

11 Likes 1 Share

Re: Top Ten African Currencies Compared To US Dollar by Cooldowntemper: 2:37pm On May 11
helinues:
Na kuku the rain packed both birds and chicken together

Ronu on steroids

Won't you praise the cocaine addict?

104 Likes 17 Shares

Re: Top Ten African Currencies Compared To US Dollar by CodeTemplar: 2:49pm On May 11
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.

156 Likes 21 Shares

Re: Top Ten African Currencies Compared To US Dollar by givedemwotowoto: 2:51pm On May 11
I wouldn’t say Ghana currency is a top currency based on face value because it has undergone redenomination in the past, I think

78 Likes 9 Shares

Re: Top Ten African Currencies Compared To US Dollar by helinues: 2:54pm On May 11
Cooldowntemper:


Ronu on steroids

Won't you praise the cocaine addict?

You called yourself cooldowntemper but you have been provoking others for no sensible, reason trolling them up and down.

Why not start practicing what you are preaching

91 Likes 7 Shares

Re: Top Ten African Currencies Compared To US Dollar by Putinofrussia: 2:58pm On May 11
Basically,it is mostly the poor masses that spend naira but the elites,foreign missions,govs etc mostly spend dollar.
It has been there for long barely noticed because Nigeria was still sinking bit by bit and because we have had mostly mumu govts in Nigeria who always thought that Nigeria was rich and no matter what they do even negatively,Nigeria will still be rich.
Just like some undiscerning people were saying that if a dog rules Lagos,it will still continue to be rich grin
Some people are so ignorant.

FG should monitor those govs,bank CEOs too closely because they are part of the rot.

108 Likes 4 Shares

Re: Top Ten African Currencies Compared To US Dollar by muhammaduyusufu: 3:00pm On May 11
In Ghana, a loaf of bread is more expensive than in Nigeria. The spending power or what that currency can get you i.e. value is what matters.

102 Likes 4 Shares

Re: Top Ten African Currencies Compared To US Dollar by Elusive001: 3:05pm On May 11
muyico:
Nigeria is number what?


#5133

4 Likes 2 Shares

Re: Top Ten African Currencies Compared To US Dollar by Blackfire(m): 4:30pm On May 11
grin


Reality is now setting in



Very soon CFA will bench naira.



How tinubu convinced zombies to vote for him by just shouting emilokan

22 Likes 2 Shares

Re: Top Ten African Currencies Compared To US Dollar by RenaissanceGuy: 4:59pm On May 11
CodeTemplar:
Currency conversion ratio is of little significance when you consider that currencies can be adjusted.

For example, the Kuwaiti Dinar (KWD) is the strongest currency in the world with a single Kuwaiti dinar buying $3.25 US dollars (or, put another way, one US dollar equals 0.31 Kuwaiti dinars) but can the Kuwaiti economy measure against USA or other advanced economies?
As a matter of fact, kuwaiti dinar was adjusted by taking away three zeros to make it the world's strongest. That's something anyone can do and become the worlds strongest currency but not necessarily the world strongest economy.

Money is a just a metric system that can change based on goods and service backing it or can be recalibrated to ease management of money system.
LOL. This is very incorrect. Kuwait removed 3 zeros from their currency?? Do you know how wealthy that country is? It's a lie; maybe you are referring to Ghana who did that about 18 years ago or thereabouts, not Kuwait. The dinar was 1 dinar to 1 pound in 1961; today it's 1 dinar to £2.6 —meaning more than 60 years later, it's now nearly 3 times more valuable than pounds while almost every other country's currency is below the pounds. Reason: Sensible leaders and crude oil.

You think even if Nigeria decides to revalue its currency against the dollar at the rate of ₦1 to $1, our naira would still not depreciate to ₦17/$ within months?? It's stability we're talking about, if not every country would simply do so and start boasting to have stronger currency than the US.

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Re: Top Ten African Currencies Compared To US Dollar by lordm(m): 9:55pm On May 11
Naira is way better than Ghana Cedes

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Re: Top Ten African Currencies Compared To US Dollar by Throwback: 10:11pm On May 11
For the ignorant, currency and economy are not the same.

When Naira was equal to the Pound Sterling and above the US Dollar, it did not mean our economy was any miles close to that of USA or Britain.

Same reason why the British economy is no where close to the US, despite that the Pound Sterling is above the dollar.

If Nigeria decides to remove 4 zeros like how Ghana did before 2008, our currency will be higher than the dollars, yet our economy won't be any better for it, besides eliminating the inferiority complex that ties to the exchange rate for those who are ignorant.

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Re: Top Ten African Currencies Compared To US Dollar by Tallesty1(m): 10:12pm On May 11
Giant no dey top ten grin grin grin grin grin grin




Why is Binance not affecting their Currencies?

8 Likes 1 Share

Re: Top Ten African Currencies Compared To US Dollar by FreeStuffsNG: 10:12pm On May 11
Islie:


https://thenationonlineng.net/top-ten-african-currencies-compared-to-us-dollar/
Lol @ Ghana (cedis) that redenominated by knocking off 4 zeroes and now devalued significantly even after devaluation.

8 Likes

Re: Top Ten African Currencies Compared To US Dollar by bigdammyj: 10:12pm On May 11
Noted.
Re: Top Ten African Currencies Compared To US Dollar by falopey: 10:13pm On May 11
Common denominator of all these countries is that they’re all tourist destinations for inflow of tourists dollars into the country. Lower population that gives room for less demand pressure on dollars which makes dollars stable in the countries

7 Likes

Re: Top Ten African Currencies Compared To US Dollar by inoki247: 10:13pm On May 11
Lol that Cedis is wrong....


Cedis is almost at 15 to a Dollar presently at 14.90....

3 Likes

Re: Top Ten African Currencies Compared To US Dollar by Beverlyjean(f): 10:14pm On May 11
Now,a war turn country has is just 4 to a dollar... they don't use the dollar , their citizens don't need or even take it seriously..... the only way we can get it right is to use force by making FX illegal on the streets .... it should only be electronically traded thru the banks ...all crypto should be banned ... anyone found trading crypto or dealing with FX should be arrested immediately... Nigerians that can afford it are buying it up and hoarding it like black market fuel sellers ...

19 Likes 2 Shares

Re: Top Ten African Currencies Compared To US Dollar by Love800(m): 10:15pm On May 11
Can u explain more pls?
Am lost with dis ur post.
Just put it in a layman words for a clearer understanding.
muhammaduyusufu:
In Ghana, a loaf of bread is more expensive than in Nigeria. The spending power or what that currency can get you i.e. value is what matters.

1 Like

Re: Top Ten African Currencies Compared To US Dollar by Throwback: 10:15pm On May 11
FreeStuffsNG:

Lol @ Ghana (cedis) that redenominated by knocking off 4 zeroes and now devalued significantly even after devaluation.

Exactly!

4 Likes 1 Share

Re: Top Ten African Currencies Compared To US Dollar by amnesty7: 10:15pm On May 11
Ok
Re: Top Ten African Currencies Compared To US Dollar by Splashme: 10:16pm On May 11
Nigeria is a disgrace to Africa
.

2 Likes

Re: Top Ten African Currencies Compared To US Dollar by Godjone(m): 10:16pm On May 11
cheesy

Nigeria no where to be found. This country is cursed with bad, wicked, useless and heartless leaders. A shame of a country

6 Likes

Re: Top Ten African Currencies Compared To US Dollar by Throwback: 10:16pm On May 11
Tallesty1:
Giant no dey top ten grin grin grin grin grin grin




Why is Binance not affecting their Currencies?

The Italian Lira was so low to the dollar when Naira was above the dollar.

Yet it did not mean because a N1 Pencil in Nigeria in the early 90s would cost about 300 Lire, that our economy was better than Italy that is a G8 member state.

5 Likes

Re: Top Ten African Currencies Compared To US Dollar by Dcaliphate(m): 10:16pm On May 11
grin

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