The list shows top 10 African countries with the worst exchange rates. Exchange rates are key in the global market because they influence international trade, investments, and tourism.
Understanding how exchange rates work and how they affect different sectors of the economy is critical for businesses, tourists, and governments.
Exchange rates show how valuable a currency is in association to other currencies. The strength of a country’s exchange rate, particularly when compared to thunderlines its impact on international commerce since they determine the rate at which one currency may be exchanged for another in the foreign exchange market.
A weak exchange rate means a situation where a country’s currency has dropped in value relative to other major currencies. It can be influenced by various factors, including market forces, economic indicators, investor sentiment, and government policies.
A weak exchange rate can pose significant challenges to a country’s economy, affecting various sectors and the overall financial stability.
Exchange rates rise and show how different economic and geopolitical forces interact. For companies involved in international commerce, individuals planning overseas travel, and governments developing economic plans, understanding exchange rates and their effects is crucial.
A lot of African currencies have very bad values; and below are ten of them. This list is courtesy of Trading Economics daily currency indicators. The indicator is updated to reflect the latest currency exchange rates for countries across the globe.
Top 10 African Countries With The Worst Exchange Rates
1. Sierra Leone – Leone 1 USD = 19995.0 SLL
2. Guinea – Guinean Franc 1 USD = 8509.00 GNF
3. Madagascar – Malagasy Ariary 1 USD = 4430.00 MGA
4. Uganda – Ugandan Shilling 1 USD = 3665.00 UGX
5. Burundi – Burundian Franc 1 USD= 2806.96
6. Congo – Congolese Franc 1 USD = 2476.00 CDF
7. Tanzania – Tanzanian Shilling 1 USD = 2440.00 TZS
8. Rwanda – Rwandan Franc 1 USD = 1159.60
9. Malawi – Malawian Kwacha 1 USD = 1043.020 MWK
READ: Dollar Stressing Cedi as Exchange Rates Crosses GHS12 Mark
10. South Sudan – South Sudanese Pound 1 USD = 979.067 SSP