strongest currencies Africa
Finance - December 31, 2021

5 Strongest Currencies in Africa Against the Dollars in 2021

Tunisia’s economy shows the strongest resistance to the US Dollars, despite the COVID-19 pandemic.

Although the Dollar remains one of the strongest currencies in the world, some countries in Africa are impressively matching up. Despite the poor standard of living and the unstable economy some nations on the continent are navigating the challenge of currency devaluation.

According to International Monetary Funds, the U.S Dollars account for 60% of the transactions in the globe.

In determining the strongest African currency in 2021, the country’s exchange rate compared with the Dollars is used as the benchmark. Here are the five strongest currencies in Africa against the Dollars in 2021.

Tunisian Dinar (DT 2.87 to 1 USD )

Tunisia’s economy shows strong resistance to the US Dollars, despite the COVID-19 pandemic. This makes it the strongest currency in Africa. With its formidable import and export policies, Tunisia maintained static conversions. Tunisia has a 3.8% gross domestic product (GDP) growth rate and 3.68 thousand U.S. Dollars GDP per capita in 2021.

Libyan Dinar (LD 4.59 = 1 USD)

Unlike Tunisia that maintained a static conversion rate, the Libyan Dinar moved from LD 1.41 to LD 4.59. Libyan has a 131% gross domestic product (GDP) growth rate and 3.62 thousand U.S. Dollars GDP per capita in 2021.

Ghanaian Cedi (GH 5.49 1 = 1 USD)

Ghana’s Cedi is the leading currency within sub-Sahara Africa. It changed from GH 5.49 to GH 6.18 with a 4.6% gross domestic product (GDP) growth rate and 2.37 thousand U.S. Dollars GDP per capita in 2021.

Moroccan Dirham (MAD 9.20  = 1 USD)

Due to its proximity to Europe, Morocco has direct trade with various European countries. Morocco’s Dirham also moved from MAD 9.20 to MAD 9.25 with a 4.5% gross domestic product (GDP) growth rate and 3.41 thousand U.S. Dollars GDP per capita in 2021.

Botswana Pula (P 11.6 = 1 USD)

The strength of Botswana’s currency comes from the country’s excellent economic and political framework. The Pula moved from P 11.6 to P 11.74 by 2021. The country has a 7.5% gross domestic product (GDP) growth rate and 7.82 thousand U.S. Dollars GDP per capita in 2021.

 

READ ALSO: 5 Weakest Currencies in Africa Against the Dollar

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