As of the conclusion of the first quarter of 2025, the Ghana Cedi has been positioned as the 7th strongest currency in Africa, with an exchange rate of GH¢15.48 per US dollar, according to the Forbes currency calculator.
Despite this favorable ranking, the Cedi faced a depreciation of 5.3% in the interbank market during the same quarter. Furthermore, it experienced a nearly 3.0% decline against the US dollar in the retail market.
The Tunisian Dinar was identified as the strongest currency in Africa, valued at 3.09 per US dollar. Following it in the rankings were the Libyan Dinar, Moroccan Dirham, Botswana Pula, Seychelles Rupee, and Eritrean Nakfa, occupying the 2nd to 6th positions, respectively.
The Lesotho Loti, Namibian Dollar, and South African Rand were ranked 8th, 9th, and 10th, respectively. The top five currencies experienced slight increases in value compared to the previous month.
Forbes emphasizes that a robust and stable currency is an essential economic asset, particularly for African countries aiming for sustainable growth and enhanced global competitiveness. A stable currency serves as a safeguard against economic shocks, helping to maintain purchasing power and economic confidence.
For example, the Kenyan shilling has remained stable, bolstered by foreign inflows from non-governmental organizations and remittances.
