Some African currencies are holding firmly strong against the US dollar despite low productivity on the continent. The currencies have rebuffed the dollar's strength and helped their countries to maintain fiscal balance amid global inflation. Despite challenges, these currencies have been resilient and robust amid inflation, low exports and productivity in their respective countries.
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ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade. The Nigerian currency is not among the top 10 strongest in Africa, as the government has devalued it. The naira began its woeful performance against the US dollar in 2023 when it dropped from N430 per dollar to N1,667 as of October 2, 2024.
However, other African currencies have maintained a strong stance against the dollar amid strong inflationary pressures and declining exports. Read also Nigeria @ 64: Naira from symbol of pride to cause of despair PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! Top African currencies Tunisian Dinar: 1 USD = DT 3.04 Despite Tunisia facing economic issues, the Tunisian Dinar remains strong.
The country’s strict trade rules and cautious financial policies have helped keep its value steady. Libyan Dinar: 1 USD = LD 4.74 Libya’s currency, the Libyan Dinar, has a deep history.
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