Top 10 Weakest Currencies in Africa
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Africa, with its rich cultural heritage and diverse economies, is home to a wide range of currencies. However, not all currencies in the continent boast the same level of strength and stability. In this post, we will look at the African currencies at the bottom of the barrel and explore the 10 weakest currencies in Africa.
| Rank | Currency | Exchange Rate (USD) | Symbol |
|---|---|---|---|
| 1 | Sao Tome & Principe Dobra | $1 = 22,281.80 dobra | STD |
| 2 | Sierra Leonean Leone | $1 = 19,678.65 leone | SLL |
| 3 | Guinean Franc | $1 = 8,583.88 franc | GNF |
| 4 | Malagasy Ariary | $1 = 4,528.28 ariary | Ar |
| 5 | Ugandan Shilling | $1 = 3,849.94 shilling | USh |
| 6 | Burundi Franc | $1 = 2,849.21 franc | FBu |
| 7 | Tanzanian Shilling | $1 = 2,540.00 shilling | TSh |
| 8 | Rwandan Franc | $1 = 1,189.74 franc | RF |
| 9 | Malawian Kwacha | $1 = 1,680.27 kwacha | MK |
| 10 | Nigerian Naira | $1 = 1,500.50 naira | NGN |
Related Read: Top 10 Strongest Currencies in Africa
São Tomé and Príncipe Dobra (STD)
The São Tomé and Príncipe dobra is the weakest currency in Africa, with one US dollar equaling approximately 22,281.8 STD. This tiny island nation faces economic challenges stemming from its heavy dependence on imported goods and a lack of natural resources. Political instability and corruption have also contributed to the dobra’s weak position.
Sierra Leone Leone (SLL)
One US dollar buys approximately 19,678.65 SLL in Sierra Leone. The West African nation suffers from a fragile economy, characterized by high levels of poverty, unemployment, and inequality. Its currency has been affected by political instability, corruption, and a history of civil war.
Guinea Guinean Franc (GNF)
The Guinean franc is the third weakest currency in Africa, with one US dollar equaling approximately 8,583.4 GNF. Guinea, located in West Africa, faces economic challenges resulting from poor governance, corruption, and a lack of natural resources. The country’s currency has been negatively influenced by political instability and regional conflicts.
Madagascar Malagasy Ariary (MGA)
One US dollar equals approximately 4,528.28 MGA in Madagascar. The Indian Ocean Island nation faces economic difficulties caused by political instability, corruption, and a lack of infrastructure. The malagasy ariary has been weakened by the country’s dependence on exports of vanilla, cloves, and graphite, leaving it vulnerable to price fluctuations.
Uganda Ugandan Shilling (UGX)
The Ugandan shilling is the fifth weakest currency in Africa, with one US dollar equaling approximately 3,849.94 UGX. Located in East Africa, Uganda faces economic challenges resulting from political instability, corruption, and a lack of natural resources. The country’s currency has been weakened by high levels of inflation, a large external debt burden, and a history of conflict.
Burundi Burundian Franc (BIF)
One US dollar equals approximately 2,849.21 BIF in Burundi. The Central African nation faces economic difficulties caused by political instability, corruption, and a lack of natural resources. The burundian franc has been weakened by the country’s dependence on imports, particularly food and fuel, leaving it vulnerable to price fluctuations.
Democratic Republic of Congo Congolese Franc (CDF)
The Congolese franc is the seventh weakest currency in Africa, with one US dollar equaling approximately 2,752.27 CDF. The Central African nation faces economic challenges resulting from political instability, corruption, and a lack of natural resources. The congolese franc has been weakened by the country’s dependence on exports of copper, cobalt, and diamonds, leaving it vulnerable to price fluctuations.
Tanzania Tanzanian Shilling (TZS)
The Tanzanian shilling is the eighth weakest currency in Africa, with one US dollar equaling approximately 2,540.00 TZS. Located in East Africa, Tanzania faces economic challenges resulting from political instability, corruption, and a lack of natural resources. The country’s currency has been weakened by high levels of inflation, a large external debt burden, and a history of conflict.
Malawi Malawian Kwacha (MWK)
One US dollar equals approximately 1,680.27 MWK in Malawi. The Southern African nation faces economic difficulties caused by political instability, corruption, and a lack of natural resources. The malawian kwacha has been weakened by the country’s dependence on imports, particularly food and fuel, leaving it vulnerable to price fluctuations.
Nigeria Naira (NGN)
The ninth weakest currency in Africa, the Nigerian naira is valued at approximately 1,500.50 NGN per US dollar. Nigeria, located in West Africa, faces economic challenges resulting from political instability, corruption, and a lack of natural resources. The country’s currency has been weakened by high levels of inflation, a large external debt burden, and a history of conflict.
