Top Five Strongest Currencies in Africa as of May 2025
As global economies continue to navigate fluctuating exchange rates, inflation, and monetary policy challenges, several African nations have managed to maintain strong and relatively stable currencies.
According to recent financial data, the following five African currencies are the strongest against the U.S. dollar as of May 2025, reflecting economic resilience, effective fiscal policy, and robust trade practices.
1. Tunisian Dinar (TND)
Exchange Rate: TND/USD = 0.33
The Tunisian Dinar holds its place as the strongest currency in Africa. Tunisia’s economic stability stems from government policies that focus on import control, currency regulation, and inflation management. Although the dinar is not widely traded outside the country due to strict exchange regulations, its high value remains a reflection of Tunisia’s consistent monetary discipline.
2. Libyan Dinar (LYD)
Exchange Rate: LYD/USD = 0.18
Despite years of political turmoil, Libya’s dinar remains strong, ranking second on the continent. The primary reason for this resilience is the country’s vast oil reserves, which continue to generate foreign revenue. The Central Bank of Libya enforces strict controls on foreign exchange, limiting supply and inadvertently preserving the currency’s value on the international market.
3. Moroccan Dirham (MAD)
Exchange Rate: MAD/USD = 0.11
The Moroccan Dirham comes in third, supported by Morocco’s diversified economy, which includes sectors such as tourism, agriculture, automotive exports, and renewable energy. A relatively stable political environment and prudent fiscal policies have enabled the Moroccan central bank to maintain confidence in the Dirham. The currency also benefits from flexible exchange rate mechanisms and strong trade ties with Europe and Asia.
4. Ghanaian Cedi (GHS)
Exchange Rate: GHS/USD = 0.097
After a period of volatility, the Ghanaian Cedi has appreciated significantly in 2025. This improvement is largely attributed to remittance inflows, increased foreign investment, and targeted interventions by the Bank of Ghana. The government’s efforts to improve debt sustainability and attract diaspora bonds have also contributed to strengthening the currency, pushing it to the fourth spot on the continent.
5. Botswana Pula (BWP)
Exchange Rate: BWP/USD = 0.074
Rounding out the top five is the Botswana Pula, long regarded as one of Africa’s most stable currencies. Botswana’s economic management is often praised for its low debt levels, transparent institutions, and prudent use of mineral revenues, particularly diamonds. The Pula’s strength reflects both strong macroeconomic fundamentals and consistent governance.
These rankings are based on current exchange rates against the U.S. dollar and serve as indicators of monetary strength, not necessarily overall economic size. Currencies like the South African Rand and Nigerian Naira, while more widely traded and from larger economies, did not make the top five due to exchange rate depreciation and inflationary pressures in recent months.
Financial analysts note that currency strength can fluctuate quickly due to global commodity prices, political developments, and central bank policies. However, the listed currencies have maintained relative strength into the second quarter of 2025, showcasing solid monetary strategies by their respective nations.
