Exchange rate, the rate at which a country’s currency exchanges for another is important in determining the movement of money between countries and generally influences international trade.
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Join our WhatsApp ChannelThe value of a currency according to economic experts is determined by a number of factors including the level of production and the volume of economic activities in a country with regard to its contribution to International trade, investor sentiments, and market forces, among others.
Knowledge of the trend of exchange rates is critical for businesses, tourists, and governments, as it is one of the factors to determine the level of a country’s relative economic wealth.
Countries can have weak or strong currencies depending on the level of economic value. Many African countries have weak currency value when considered for exchange with the United States dollar which has over time become the world’s reserve currency.
In this article, we present to you the top 10 countries in Africa with the lowest value currencies when compared to the US Dollar for exchange.
According to data found in Trading Economics, a platform that provides information for 196 countries on exchange rates, stock market indexes, government bonds, and commodity prices, there are 43 African countries that feature in its currency exchange rate indicators daily.
The currency rates below, as obtained from Trading Economics, reflect rates as of 31st July 2023.
They are listed below starting from the weakest.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
