As of the end of the first quarter of 2025, the Ghana Cedi has been ranked 7th as the strongest currency in Africa, with a value of GH¢15.48 to one US dollar. This rating was provided by the Forbes currency calculator.
Despite the Cedi’s strong position, it experienced a 5.3% depreciation on the interbank market in the first quarter of 2025. Additionally, it lost nearly 3.0% to the US dollar in the retail market.
Tunisia’s Dinar emerged as the strongest currency in Africa, valued at 3.09 to one US dollar. The Libyan Dinar, Morocco’s Dirham, Botswana’s Pula, Seychelles Rupee, and Eritrean Nakfa followed in 2nd to 6th positions, respectively.
Lesotho Loti, Namibian Dollar, and South African Rand ranked 8th, 9th, and 10th, respectively. The top five currencies saw slight increases in value compared to the previous month.
Forbes highlights that a strong and stable currency is a crucial economic asset, especially for African nations pursuing long-term growth and global competitiveness. A stable currency also acts as a buffer against economic shocks, preserving buying power and economic confidence.
For instance, Kenya’s shilling has remained steady due to foreign inflows from NGOs and remittances.