Ghana ranked fifth in best performing currencies in Africa
The year 2025 has witnessed notable appreciation in several African currencies against major trading currencies, particularly the US dollar.
This upward trend is attributed to strong commodity exports, prudent fiscal management, effective foreign exchange controls, increased foreign direct investment, and growing investor confidence.
Here is a list of the five best-performing African currencies and the key factors driving their resilience:
1. Tunisian Dinar (TND) – Edge in value retention (2.9–3.1 TND per USD)
The Tunisian dinar remains at the top in nominal value relative to the dollar in Africa. With tight controls on capital flows and disciplined monetary policy, it has preserved value even as other currencies weakened.
2. Libyan Dinar (LYD) – Oil-backed stability (4.8–5.4 LYD per USD)
Libya’s heavy reliance on oil exports supports the dinar. While political and institutional instability remains a risk, hydrocarbon earnings bolster foreign exchange availability.
3. Moroccan Dirham (MAD) – (9.0–10.0 MAD per USD)
Morocco operates a managed floating exchange system, often pegged to a basket of currencies. With a mixed economy and gains from tourism, agriculture, and manufacturing, the dirham enjoys relative resilience to external shocks.
Cedi tops Africa’s currency rankings in 2025 – World Bank
4. Botswana Pula (BWP) – (13.0–14.0 BWP per USD)
Botswana’s prudent fiscal policies and diamond exports give the pula a strong foundation. The currency is often cited for its relative stability in Southern Africa.
5. Ghana Cedi (GH¢) – Over 40% appreciation (GH¢10–13 per USD)
After years of prolonged depreciation, Ghana’s reforms, investor confidence, and capital inflows have helped the cedi post strong gains in 2025, with some reports calling it the world’s best-performing currency this year.
SP/MA
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