Highest Valued Currencies In Africa
Here in konews.com.ng we bring you the Top 10 most valued currencies In Africa. Many people don’t know which country in Africa has the highest currencies. In this article we bring you the counties in Africa with the highest currencies.
Base on research a currency value is usually dependent on the present state or the country’s economy and also how strong the purchasing power of that currency is in the international market. The currency that is mostly used in the international market is the United States Dollar, it is accepted around the world to trade in the international market. African currencies
values their individual counties currency based on the how it stands against the US Dollar in exchange rate.
Most Countries in Africa do not have strong or steady and stable currencies due to poor management of the economy and finances.
Africa is a continent that is filled with lots of potentials and business opportunities, unlike before that is known as the black
poverty continent. This is because lots of investors look to tap into the unlimited amount of resources in the continent.
The amount, rate and type of goods exported and imported by a country can also affect the strength of any currency. Definitely, countries with a higher export rate than import would have a pretty strong currency.
Please Note that the currency values are bound to change by little fractions as country economy increases or decreases, and as the market opens and closes.
Here is the List of The Top 10 Highest Valued Currencies In Africa
10. The Egyptian Pound
This is the currency of the country of Egypt. They might have some problems in their country but they gave tried to keep their economy strong and their currency even stronger.
While $1 is worth 17.85 Egyptian pound it is worth 23.9 in Nigerian currency.
9. The Eritrean Nakfa ERN Nakfa
This is the currency that is use in Eritrea. This country is not popular country in Africa and yet their currency is among the highest currencies in Africa. Eritrea, is an island country in Africa. $1 to 15.2 ERN