When thinking of the highest or strongest currencies in the world, the US Dollar, British Pound, and Euro immediately spring to mind.
However, Africa is also home to some important currencies, enjoying lower inflation and higher buying power.
Moreover, the continent is home to some of the fastest-emerging countries in the world.
One such country, home to the strongest currency in Africa, also benefits from being an incredibly popular tourist destination – Tunisia.
Using the Tunisian Dinar (TND), according to Business Insider Africa, the country currently has a value of 3.14 per US Dollar.
The TND was introduced in 1958 after Tunisia gained independence from France. It replaced the franc at a rate of 1,000 francs to one dinar.
The nation has built a robust economy and maintains an excellent trade policy based on agricultural and oil exports.
Its government also enforces strict regulations on the conversion of the dinar, which has been a critical factor in maintaining its strength.
Tunisia has a closed currency, meaning it is a criminal offence to import or export dinar. Each citizen can convert up to 6,000 Tunisian dinars into foreign currency each year before leaving the country. Tourists, on the other hand, are advised to take cash with them to change once in Tunisia or bring their debit or credit card. Visa is more widely accepted than others like Maestro.
At the time of writing, one Tunisian Dinar equals £0.25. In the last five years, the TND reached its peak of £0.28 in March 2020.
The Libyan dinar is second on Africa’s most robust currencies list. It was adopted as Libya’s official currency in 1971. Like its North African neighbour, Tunisia, Libya is rich in oil and many natural resources, such as gold, which makes up the bulk of its exports.
At one point, it was the strongest currency in Africa. However, geopolitical events over the last decade, especially internal conflict and lower oil prices, have pushed the Libyan dinar lower on the ranking.
Tourism in Tunisia is a major industry, attracting over 10 million tourists in 2024, a record-breaking number for the country. Among Tunisia’s tourist attractions are its capital city, Tunis, the ancient ruins of Carthage, the Muslim and Jewish quarters of Djerba, the largest island of North Africa and coastal resorts outside Monastir.
Tunisia has also had a big boost in popularity due to its use as a filming location for the Star Wars films. Tataouine, for example, is famous for its below-ground “cave dwellings” of the native Berber population. The city shot to fame when it became Luke Skywalker’s fictional home planet, Tatooine.
