11 Strongest Currencies in Africa (2025) Ranked by Value

List of Strongest Currencies in Africa (2025) Top 11 Ranking 

Below is a table summarizing the strongest currencies in Africa, as of May 23, 2025.

What are the Strongest Currencies in Africa?

Below is a list of the top 11 strongest currencies in Africa, as of 23 May 2025:

1. Tunisian Dinar (TND)

2. Libyan Dinar (LYD)

3. Moroccan Dirham (MAD)

4. Ghanaian Cedi (GHS)

5. Botswana Pula (BWP)

6. Seychelles Rupee (SCR)

7. Eritrean Nakfa (ERN)

8. Namibian Dollar (NAD)

9. Swazi Lilangeni (SZL)

10. South African Rand (ZAR)

11. Lesotho Loti (LSL)

Strongest Currency in Africa: Tunisian Dinar (TND)

The Tunisian Dinar is the strongest currency in Africa in 2025, with an exchange rate of TND/USD=0.33, as of May 23,  2025.

This strength comes from Tunisia’s consistent efforts to maintain monetary discipline, limit inflation, and control imports through strict foreign exchange rules.

While not freely traded on all forex platforms, the TND is a model of currency stability in Africa. In forex analysis, the TND’s steady performance is a sign of sound economic fundamentals and controlled capital outflows.

Libyan Dinar (LYD)

Despite political uncertainty, the Libyan Dinar remains one of the strongest currencies in africa.

With an exchange rate of LYD/USD = 0.18, as of 23 May 2025, it benefits greatly from the country’s vast oil reserves and tight currency regulations.

Libya has limited the circulation of foreign exchange, helping prevent depreciation. While it’s not one of the most traded forex currency pairs, LYD’s value is still noteworthy in African currency value comparisons.

Its strength is sustained by oil export revenues, a relatively low population, and conservative fiscal policy

Moroccan Dirham (MAD)

The Moroccan Dirham is known for its resilience and gradual appreciation. Trading at MAD/USD = 0.11, as of 23 May 2025, it reflects Morocco’s strong ties with European markets, solid tourism industry, and consistent economic reforms.

Morocco’s central bank manages a flexible peg system, allowing the Dirham to adjust while maintaining overall stability.

As one of the most stable currencies in Africa, the MAD is increasingly featured in regional forex portfolios.

The country’s balanced approach to growth, combined with increased foreign direct investment, gives the Dirham its solid footing.

Ghanaian Cedi (GHS)

The Ghanaian Cedi ranks among the top 10 African currencies by value and is recognized for its comeback after past depreciations.

Trading at GHS/USD = 0.084 as of 23 May 2025, the Cedi’s strength is driven by major reforms by the Bank of Ghana, gold exports, and digital innovation in payments.

Ghana has improved its monetary policies, reduced inflation, and attracted global fintech investment.

Among forex trading African currencies, the GHS is popular due to its liquidity and Ghana’s strategic role in West Africa’s economy.

Botswana Pula (BWP)

The Botswana Pula is one of Africa’s most consistent currencies, with BWP/USD = 0.074, as of 23 May 2025.

The country’s stable government, low corruption, and diamond exports have long supported its financial credibility.

Botswana uses a crawling peg system, where the Pula is managed against a basket of currencies, allowing gradual movement while avoiding sharp volatility. This makes it appealing for currency appreciation strategies.

Investors often regard the Pula as a benchmark of how small, well-managed economies can maintain a strong currency in Africa.

Seychelles Rupee (SCR)

Despite its small population, the Seychelles Rupee is a high-performing currency. It is one of the strongest currencies in africa trading at SCR/USD = 0.071, as of 23 May 2025.

The island nation’s economy is heavily reliant on tourism, and recovery post-COVID has helped restore foreign reserves. The government maintains tight fiscal policy and engages with the IMF for financial stability.

Among African currencies compared to USD, the SCR holds an impressive position.

Its value also reflects Seychelles' efforts in environmental tourism and sustainability, making it a solid performer in the region.

Eritrean Nakfa (ERN)

The Eritrean Nakfa stands out due to its fixed exchange rate system. At ERN/USD = 0.066, as of 23 May 2025, the currency remains strong thanks to government-imposed foreign exchange controls.

While not freely traded on the open forex market, the Nakfa's stability is rooted in state policies that prioritize self-reliance and debt control. Although Eritrea faces external trade limitations, the Nakfa’s value remains protected.

It’s a textbook example of how currency strength rankings in Africa can result from political will over market demand.

Namibian Dollar (NAD)

The Namibian Dollar mirrors the South African Rand, as it is pegged 1:1 with it.

At NAD/USD = 0.056, as of 23 May 2025, it benefits from Namibia’s strong mining sector and financial governance.

Because it shares a monetary union with South Africa, the NAD offers currency stability in Africa while allowing Namibia to maintain its own central bank.

It is also a liquid forex currency pair in southern Africa, popular in trade and cross-border investment. Namibia’s stable economy ensures the NAD stays among Africa’s top currencies.

Swazi Lilangeni (SZL)

Like the NAD, the Swazi Lilangeni is pegged to the South African Rand. It is one of the strongest currencies in Africa trading at SZL/USD = 0.056, as of 23 May 2025.

Eswatini (formerly Swaziland) benefits from its integration into South Africa’s financial system, ensuring stability for the Lilangeni.

Despite its small economy, the country’s use of fiscal discipline and donor support keeps inflation under control. SZL is used in cross-border trade and increasingly appears in forex trading African currencies within the SADC region.

It’s a dependable currency backed by a predictable macroeconomic structure.

South African Rand (ZAR)

The Lesotho Loti also shares a 1:1 peg with the South African Rand and ranks among the most stable currencies in Africa.

At LSL/USD = 0.056 as of 23 May 2025, its strength is a reflection of Lesotho’s monetary cooperation with South Africa and its focus on development aid, textiles, and remittances.

Despite its small size, Lesotho’s predictable fiscal policies and peg structure provide exchange rate confidence. In regional forex markets, the Loti is considered a safe and steady currency.

Lesotho Loti (LSL)

The South African Rand is Africa’s most widely traded currency. At ZAR/USD = 0.056 as of 23 May 2025, it may not top the value chart, but it leads in terms of liquidity and global visibility.

The Rand reflects South Africa’s economic indicators, including its industrial output, mining sector, and stock market performance.

It is included in multiple forex currency pairs like USD/ZAR, EUR/ZAR, and GBP/ZAR, making it a key player on global trading platforms. Though volatile at times, its inclusion in major forex portfolios speaks volumes about its strategic importance.

Honorable Mentions Strongest Currencies in Africa (12-15)

While they didn’t make the top 11, these four currencies still rank high in value and show strong economic potential in 2025:

What Determines a Strong Currency?

When we talk about African currency strength, it’s not just about the numbers.

A currency’s value reflects the economic strength of a country, influenced by:

• Inflation control: Stable prices mean higher trust.

• Foreign reserves: Countries with more dollars or gold can support their currency better.

• Interest rates: Higher rates attract investors.

• Trade balance: Export-heavy countries often have stronger currencies.

• Political and economic stability: Unrest weakens confidence and currency.

So, currency stability in Africa often mirrors the broader economic indicators of African countries.

Strongest African Currencies vs Global Currencies

While no African currency has dethroned global giants like the US Dollar (USD) or Euro (EUR), some are holding their own impressively.

The Tunisian Dinar, for instance, is not only the strongest currency in Africa but even stronger than some Eastern European and Asian currencies.

African currencies may not be “reserve currencies” yet, but they’re gaining traction in regional trade, investment portfolios, and forex trading platforms alike.

Why Are These Currencies Are Strong

Understanding why certain African currencies are stronger than others means looking at more than just numbers on a screen.

Let’s break down the key reasons behind the currency strength rankings in Africa:

Strong Export Sectors

Many of the strongest African currencies belong to countries with large natural resource exports, like oil (Libya), diamonds (Botswana), gold (Ghana), and phosphates (Tunisia).

These exports generate consistent foreign currency inflows, which increase demand for the local currency and help stabilize exchange rates.

Monetary Policy and Currency Controls

Several top-performing African currencies are backed by strict central bank policies, including foreign exchange controls, interest rate targeting, and currency pegs to reduce volatility.

This approach prevents excessive depreciation and builds investor confidence.

Low Inflation and Fiscal Discipline

Countries with low inflation typically have more stable and stronger currencies.

Governments that spend wisely and manage debt effectively reduce inflationary pressure and increase the value of their currency over time.

Pegged and Managed Exchange Rate Systems

Several currencies like the Namibian Dollar (NAD), Swazi Lilangeni (SZL), and Lesotho Loti (LSL) are pegged to the South African Rand, benefiting from exchange rate stability without giving up full monetary autonomy.

Pegs to stronger currencies or currency baskets can stabilize expectations and reduce speculation.

Tourism and Service Sector Revenue

Smaller countries like Seychelles rely heavily on tourism receipts in foreign currency, which supports their exchange rates by maintaining a healthy balance of payments.

How You Can Use Strong African Currencies in Trading?

Strong African currencies can offer smart trading opportunities, even beyond the major forex pairs.

Here's how you can use them:

• Lower Volatility Trades: Pairs like MAD/USD or BWP/USD are more stable and great for conservative strategies.

• Portfolio Diversification: Add variety by including emerging market pairs like ZAR/JPY or GHS/USD.

• Hedge Local Risk: If you earn or spend in African currencies, trading strong ones like TND or ZMW helps protect against depreciation.

• Carry Trade Potential: Some African countries offer higher interest rates, ideal for earning from interest differentials.

• React to Economic Trends: Watch commodity prices, central bank news, and inflation data, they move these currencies fast.

Conclusion

The strongest currencies in Africa in 2025 highlight the progress made by several African nations in managing their economies with greater stability and control.

From the Tunisian Dinar to the South African Rand, these currencies reflect a mix of export-driven growth and smart monetary policy.

If you found this interesting, you can also check the strongest currency in the world  and weakest currency in the world in 2025.