Countries

Top 5: Most Effective & High Valued African Currencies

In the olden days, there was a time when humans had nothing as currency or had no concept of such a thing. As human population grew and tribes begun to establish as well as community, a need for things came forward, things that were not produced by only one tribe. A concept of trading then became the norm where people would trade goods for things. Slowly the concept of bartering became civility as individuals exchanged goods for things they had in excess and vice versa. Centuries ago, a concept of currencies began to form where things would be bought with an agreed standardized item. For years, salt and even potatoes were used as currencies by some communities. Later, precious minerals and metals became established currencies with gold, silver and brass being the most well-known.
Countries began to form, borders began to be introduced, languages were formed and then currencies for those nations were established with coins and specialized pieces of papers. Now-a-days these pieces of paper have the ability to control and dictate the quality of life. Certain papers however, have certain strengths depending on the economic well-being of nations. When we talk about strong currencies then often the Euro, US dollar and the sterling come to mind, as well some Middle Eastern currencies. African nations usually lag behind economic and purchasing power. Still, there are a few countries in the mostly impoverished continent that have done well for themselves. The top 5 African countries with strongest currencies are as follows.
Note: The figures and rankings maybe subject to change depending on the current exchange rates

Currently Libyan Dinar is the High valued currency bill in Africa

LIbyan 50 Dinar official banknote

libya flag

 

 

 

 

 

 

 

 

 

 

 

Q : Which African Country has the highest currency value?

  • 1. Libyan Dinar (1 USD = 1.4 LYD)
Libyan economy depends on their vast crude oil production which is among the top 10 in Africa as well as its petroleum industry. Libya has the strongest currency in Africa with a citizen of the country being able to buy a whopping 225 NGN with a single Libyan Dinar.
  • Tunisian Dinar (1 USD = 2.3 TND)
The Tunisian Dinar has also benefited from oil production, phosphate exports, car manufacturing and tourism as well. It is one of the most stable economies in Africa, maybe because it is a criminal offence to export or import a Tunisian Dinar in the country. There are also limitations as to how much a person can convert the Tunisian Dinar, 6000 to be exact, in a single year. One Tunisian Dinar can buy you 137 Nigerian Naira.
  • Ghanaian Cedi (1 USD = 4.75 GHS)
As one of the foremost diamond and gold producer in Ghana, the country enjoys a very strong economy. It stands as the third strongest currency in the continent and stands to be there for some time considering the gap with both third and second place. You can buy 66.3 Nigerian Naira with a single Ghanaian Cedi.
  • Sudanese Pound (1 USD = 6.41 SDG)
Even with the independence of South Sudan, the currency of the country is still strong thanks to its oil production and natural resources. Sudanese Pound is the 4th strongest currency in Africa and it is also bilingual with English and Arabic used on the notes. 49 NGN can be bought by 1 Sudanese Pound.
  • Moroccan Dirham (1 USD = 16.2 EGP)
Moroccan Dirham is the fifth strongest currency in Africa followed closely by Botswana Pula. In African terms, you can buy 31.1 Nigerian Naira with 1 Moroccan Dirham.
List of Top 5 African Countries Having the Highest Currency Value
Rank Country Capital Official Currency
1. Libya LIBYA Tripoli Libyan Dinar (LYD)
2. Tunisia TUNISIA Tunis Tunisian Dinar (TND)
3. Ghana flag GHANA Accra Ghanaian Cedi (GHS)
4. South Sudan SUDAN Khartoum Sudanese Pound (SDG)
5. egypt EGYPT Cairo Egyptian Pound (EGP)


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