Below are the countries with the most valuable currency in Africa 2020:
1. Libyan Dinar (1 USD = LD 1.41): The Libyan Dinar has been the strongest currency in Africa for a very long time. In Libya, the CBL has a programme that only sells a limited number of dollars to its citizens.
However, the continuous war and violence that engulfed the country since the assassination of longtime leader, Mummar Gadaffi, has affected the economy of the country drastically.
2. Tunisian Dinar (1 USD = DT 2.87): Tunisia was under the French colony and used the French franc as its currency for many years.
But in 1960, the country replaced the franc with the dinar abbreviated as DT. The country’s monetary policy where it is illegal to export or import dinars or convert them to other currencies has enabled the dinar to be among the highest in Africa.
3. Ghanaian Cedi (1 USD = GH₵ 5.49): For many years, Ghana’s currency experienced lots of volatility until the Bank of Ghana replaced the Cedi in 2007.
Today, the government’s spending programmes and job growth have enabled the currency to remain strong in Africa.
Furthermore, the Cedi is more valuable because of the country’s GDP per capita, which is the currently largest in West Africa.
4. Moroccan Dirham (1 USD = MAD 9.89): The Moroccan Dirham is the de-facto medium of exchange in the Western Sahara region.
Its de-facto state makes it one of the highest currencies in Africa. In the past, the currency exchange rate against the US dollar was around 1 MAD = 0.103182 USD.
5. Botswana Pula (1 USD = P 10.90): The Botswana Pula is valuable because of the country’s strong economy and relatively stable democracy.
Furthermore, it is an attractive currency because traders trade it on the Johannesburg Stock Exchange, which is the largest st