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What is a Currency? Or in simpler terms, what is money? This is a medium of exchange to trade in goods and services across the globe. Money is divisible, durable and most importantly very valuable depending on which currency a country uses.
Well, in Africa some of these currencies are quite valuable than the US Dollar, despite the dollar being the standard currency of trade worldwide. For the record, the most valuable currency in the world emanates from Kuwait, usually known as Kuwait Dinar. Kuwait is found in between Saudi Arabia and Iraq. It’s wealth has been largely driven by the large exports of oil.
Well, today we are just going to list some of the most valuable currencies in Africa. Advantages of valuable currency is that, a country has an upper hand in importing products very cheaply. Here are the top 5 most valuable currencies in Africa.
1 USD = 1 LD. This is the strongest currency in Africa and has been since its inception. Libya has a strict monetary policy that monitors valuation of its dinar. Also Libya has large deposits of Oil hence the strong currency.
Another North African Country who’s 1 TD equates to 0.35 Dollars of the US, and the second in Africa. It is also oil-rich.
1 USD = GHC 5.5. This a country located in West Africa famously used to be known as the Gold Coast because of its huge deposits.
Found in the Northern Part of Africa, 1 USD equals 9.69 MAD. It is the de-facto medium of exchange in the Western Sahara region.
Found in the Southern Part of Africa, it has a very stable economy and democracy as well. 1USD = 10 Botswana Pulas.