Top 10 African countries with the strongest currencies in May 2025

Business Insider

27-05-2025

Given that the world economy still seems volatile, African countries must begin to understand the importance of strong currencies as vital instruments for long-term economic growth and resilience, as well as symbols of national pride.
Business Insider Africa presents the top 10 African countries with the strongest currencies in May 2025.
This list is courtesy of the Forbes currency calculator.
The Tunisian Dinar ranks number 1 on the list.
With ongoing wars across the globe and issues such as tariff hikes, the strength of a country's currency has become more pronounced in the dynamic world of international trade.
While some countries struggle with declining currency values, others have done a great job in strengthening their legal tender.
As of April 2025, the Tunisian Dinar is Africa's strongest currency, valued at around 2.95 TND per US dollar.
Tunisia's strength is ascribed to its tightly managed foreign exchange rules and relatively stable economic environment.
This country's currency, alongside the currencies of countries such as Libya, Morocco, and Botswana, has in recent history been typically sturdy.
Likewise, some currencies on the African continent have been in the last few years, have been very feeble.
However, in recent months, there have been some positive developments, including the recovery of the Ghanaian currency, the Cedi.
Recent reports indicate that Ghana, in its last fiscal month, saw some economic relief as its currency strengthened.
During the review period, the Ghanaian cedi helped to reduce import costs.
In essence, much like Ghana, many African countries rely heavily on imports for essential goods like fuel, machinery, pharmaceuticals, and even food.
A weak currency means that these imports become significantly more expensive, worsening inflation and eroding the purchasing power of citizens.
Currency strength is frequently seen as an indication of economic stability and prudent fiscal management.
With that said, here are the strongest currencies currently, according to the Forbes currency converter, last updated on the 26th of 2025.
For this month,the countries in the top 10 recorded signifiant improvements.
The currency value for Tunisia, Libya, Botswana, Morocco, Ghana, and Seychelles compared to the month prior, all increased.
While the currency value for South Africa, Nambia and Lesotho reduced. Eritrea, remained the same.
The Ghanaian Cedi improved dramatically, going from 15.46 cedi per dollar to13.20, ousting Seychelles, Eritrea and Botswana for the 4th spot.
In contrast, the South African rand fell from the 8th spot to the 10th spot below Nambia and Lesotho, despite going from 18.62 rand per dollar in April to now 17.88.
Top 10 African countries with the strongest currencies in May 2025
Rank Country Currency value per US$ Currency
1. Tunisia 2.97 Tunisian Dinar
2. Libya 5.43 Libyan Dinar
3. Morocco 9.17 Moroccan Dirham
4. Ghana 13.20 Ghana Cedi
5. Botswana 13.38 Botswanan Pula
6. Seychelles 14.21 Seychellois Rupee
7. Eritrea 15.00 Eritrean Nakfa
8. Namibia 17.83 Namibian Dollar
9. Lesotho 17.83 Lesotho Loti
10. South Africa 17.88 South African Rand