People don't believe that Africa also have strong currencies. Though, their level of international market demand is not high as others continent, there are some currencies in Africa that are strong. If you have not heard of the first five strongest currencies in Africa, just read below.
* Libyan Dinar (1 USD = LD 1.41):
In Africa, Dinar for Libya has been the strongest currency upon the crises and disputes facing the country. Libya is a very strong country just like the way Dinar is strong. In Libya, the CBL has a programme that only distributes or sells a specific number of dollars to its people.
In order to know the high rate of dinar currency, let's make comparison. If you translate 10 Libyan Dinar to Nigeria currency, is about to N 2630. Have you seen the wide range?
* Tunisian Dinar (1 USD = DT 2. 87):
Basically, Tunisia is one of the African countries that has well structured and defined import, export and among other standard policies. Due to its defined factor, the currency become more stronger unlike other African countries that do not have such effective structure.
* Ghanaian Cedi (1 USD = GH₵ 5.49):
Among the West African countries, Ghana is the only country that make it in this list. Cedi is valuable because of the country’s GDP per capita, which is also the largest in West Africa.
* Moroccan Dirham (1 USD = MAD 9.89):
The Moroccan dirham is pegged to a currency basket of the euro and US dollar, weighted 60% to the euro and 40% to the US dollar.
* Botswana Pula (1 USD = P 10. 90):
Botswana currency is one the strongest in Africa. Its economy and political structure is a determining factor when discussed about its strong rate. The country has a strong political structure that is enabling its currency to be very strong.
Do you want to know the secret why Botswana currency is still strong? Economically, the country is inclined that is why some used people to regard it as an African success story. Also, Botswana is one of the highest Human Development Indexes (HDI) on the continent.
By Ghoto Emmanuel for ACER Editorial.