Which is strongest currency in Africa?
Below are the top 10 strongest African currencies compared to the US dollar.
- Libyan Dinar (1 USD = LD 1.41)
- Tunisian Dinar (1 USD = DT 2.87)
- Ghanaian Cedi (1 USD = GH 5.49)
- Moroccan Dirham (1 USD = MAD 9.20)
- Botswana Pula (1 USD = P 11.6)
- Zambian Kwacha (1 USD = ZK 13.4)
- Seychellois Rupee (1 USD = SR 13.64)
What is the safest currency in the world?
The USD used to be considered the safest currency due to the economic stability of the USA. In comparison to the emerging markets, USD is also far less volatile. It still defaults safe-haven assets for many organizations and countries facing uncertainty.
Which is the most valuable currency in Africa?
The African Exponent is positive that some names on the list would surprise you as many people do not expect them to have stronger currencies above the bigger and more popular nations. 1. Libyan Dinar (1 USD = LD 1.41): The Libyan Dinar has been the strongest currency in Africa for a very long time.
Why are there so many different African currencies?
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar ). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation.
How to exchange US dollars for African currency?
Visit the agent in Africa or have someone collect it on your behalf. Receive the U.S. Dollars and go exchange it for the currency you prefer. Remember, they will ask a transfer fee for their services.
Are there different currencies in East Africa?
Similarly in East Africa, the member countries of the East African Community plan to introduce a single currency, the East African shilling in 2012. Note: There are two different currencies called the CFA franc.