Which African Currencies Are the Strongest in March 2025?

In March 2025, Africa continues to see impressive developments in the strength of its currencies, with some nations standing out for their economic resilience. 

The strength of a country’s currency is usually measured against the US dollar, and in Africa, a strong currency signals economic stability, investment potential, and effective governance. 

Here’s a look at the top African currencies that are holding their ground in the global market this year.

Tunisian Dinar (TND) 

At the top of the list is Tunisia, where the Tunisian dinar (TND) remains the strongest currency in Africa. As of March 2025, one US dollar exchanges for about 3.09 Tunisian dinars. 

Tunisia’s economic strength is largely attributed to its stable economic policies, controlled inflation rates, and strong trade relations with Europe. Despite facing regional challenges, Tunisia’s well-managed financial system and diversified economy make its currency stand firm.

Libyan Dinar (LYD) 

LYD holds a solid position in Africa with a rate of 4.83 per US dollar. Despite years of political instability, Libya’s significant oil reserves continue to provide the financial backing needed for a strong currency. 

The Libyan government has managed to keep the currency stable due to oil exports, which remain a major source of national income, helping to safeguard the dinar’s value.

Moroccan Dirham (MAD)

With a value of 9.57 dirhams per US dollar, Morocco’s currency, the Moroccan dirham (MAD), reflects the country’s balanced and growing economy. Morocco’s strategic position as a trade hub, robust tourism sector, and expanding industrial base contribute to the strength of the dirham. 

The country’s diversified economy ensures the dirham remains stable despite fluctuations in global markets.

Botswana Pula (BWP)

The Botswana pula (BWP) stands strong with a conversion rate of 13.62 per US dollar. Known for its stable political environment and sound economic management, Botswana has built a solid foundation with its diamond industry. This wealth, along with careful fiscal policies, has helped the pula stay among the strongest currencies in Africa.

Seychellois Rupee (SCR) 

The Seychellois rupee (SCR) maintains a solid position in the African currency market with an exchange rate of 14.37 per US dollar. Seychelles’ economy is heavily reliant on tourism, fisheries, and offshore financial services, which have all been well-regulated. 

The country’s stable banking sector also plays a significant role in supporting the rupee’s value on the global stage.

Eritrean Nakfa (ERN)

At 15.00 nakfas per US dollar, Eritrea’s currency, the nakfa (ERN), continues to perform well compared to many others in the region. Despite economic challenges, the Eritrean government’s strict control over foreign exchange and economic activities helps maintain the nakfa’s strength. This tight control limits external vulnerabilities, ensuring relative stability.

Ghanaian Cedi (GHS) 

The Ghanaian cedi (GHS) exchanges for about 15.49 per US dollar in March 2025. While it has faced fluctuations in recent years, the cedi is backed by strong export industries, including cocoa, gold, and oil. These resources, combined with Ghana’s growing economic profile, have helped keep the cedi in the top ranks among African currencies.

Lesotho Loti (LSL) 

With a rate of 18.15 lotis per US dollar, the Lesotho loti (LSL) enjoys a unique situation as it is pegged to the South African rand. This arrangement provides stability to the loti, as the rand’s value directly influences its exchange rate. Lesotho’s strong trade relations with South Africa ensure that the currency remains stable despite regional challenges.

Namibian Dollar (NAD) 

Like Lesotho, Namibia’s currency, the Namibian dollar (NAD), is also pegged to the South African rand, maintaining a rate of 18.15 per US dollar. Namibia benefits from a robust mining sector and a growing tourism industry, contributing to its currency’s strength. The peg to the rand helps minimize fluctuations, creating a more predictable economic environment.

South African Rand (ZAR) 

South Africa’s rand (ZAR) continues to play a key role in Africa’s financial markets, with one US dollar equaling 18.15 rand. South Africa’s diverse and well-developed economy, supported by its mining, manufacturing, and services sectors, ensures the rand remains one of the continent’s top performers. As Africa’s most industrialized economy, South Africa’s economic policies and financial markets help stabilize the rand.