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The Ghanaian Cedi has been ranked as the seventh strongest currency in Africa as of the end of the first quarter of 2025, with an estimated exchange rate of GH¢15.48 to one US dollar.
READ ALSO: Ghana's Cedi set for a huge comeback following the IMF’s $3 Billion bailout
This ranking was determined using the Forbes currency calculator.
According to the Bank of Ghana, the Cedi depreciated by 5.3% in value on the interbank market during the first quarter of the year. However, its depreciation against the US dollar in the retail market was recorded at nearly 3.0%.
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Africa’s Strongest Currencies
Topping the list as the strongest currency in Africa was Tunisia’s Dinar, which had an estimated exchange rate of 3.09 per US dollar.
It was followed by the Libyan Dinar, the Moroccan Dirham, Botswana’s Pula, the Seychelles Rupee, and the Eritrean Nakfa, which ranked third, fourth, fifth, and sixth, respectively.
Lesotho’s Loti, the Namibian Dollar, and the South African Rand secured the eighth, ninth, and tenth spots on the list.
Currency Stability and Economic Growth
The top five currencies showed a slight appreciation compared to the rankings from the previous month.
Forbes highlights that a strong and stable currency is a crucial economic asset, particularly for African nations striving for long-term growth and global competitiveness. A stable currency acts as a buffer against economic shocks, preserving purchasing power and boosting economic confidence.
A notable example is Kenya’s Shilling, which has remained steady due to consistent foreign inflows from non-governmental organisations and remittances.