- Several African currencies are experiencing significant depreciation against the US dollar due to a combination of internal structural weaknesses and external global economic pressures
- The ten weakest African currencies against the dollar include Sierra Leone’s Leone, Guinea’s Franc, and Madagascar’s Ariary, with the Leone being the lowest-valued at 22,748 per $1
- Nigeria’s Naira has also seen a major decline, attributed to high inflation and economic mismanagement, which have eroded its purchasing power
- The Congolese Franc and Sierra Leone’s Leone continue to suffer from the long-term effects of civil conflict, disease outbreaks, and a lack of export diversification
Elijah Ntongai, a journalist at TUKO.co.ke, has more than four years of financial, business, and technology research and reporting expertise, providing insights into Kenyan and global trends.
As global economic pressures continue to shape financial markets, several African currencies are grappling with significant depreciation against the US dollar (USD).
Source: Twitter
The depreciation of these currencies stems from a mix of structural and external factors.
According to the International Monetary Fund (IMF), African currencies are under pressure from higher US interest rates, which strengthen the USD globally.
Additionally, many of these countries rely heavily on imports, face political instability, or contend with high inflation, as seen in Nigeria’s case, where the Naira’s value has plummeted amid soaring prices.
Sierra Leone’s Leone, for example, reflects a legacy of economic disruption from civil war and Ebola, compounded by limited export diversification. Similarly, the Congolese Franc is battered by ongoing conflict in the Democratic Republic of Congo, which disrupts trade and investment.
Weakest African currencies
| Currency | Country | Currency rate per $1(US dollar) | ||
| 1 | Sierra Leonean Leone | Sierra Leone | 22,748 | |
| 2 | Guinean Franc | Guinea | 8,649 | |
| 3 | Malagasy Ariary | Madagascar | 4,552 | |
| 4 | Ugandan Shilling | Uganda | 3,664 | |
| 5 | Burundian Franc | Burundi | 2,930 | |
| 6 | Congolese Franc | DRC | 2,877 | |
| 7 | Tanzanian Shilling | Tanzania | 2,687 | |
| 8 | Malawian Kwacha | Malawi | 1,736 | |
| 9 | Nigerian Naira | Nigeria | 1,604 | |
| 10 | Rwandan Franc | Rwanda | 1,430 |
Read also
Kenya’s US dollar reserves rise to KSh 1.2 trillion as Uganda, TZ eye gold to stabilise currencies
What is the value of the Kenyan shilling?
Earlier, TUKO.co.ke reported that the Kenya shilling sharply depreciated against the Euro and British pound between April 4 and April 17, 2025, falling by 3.3% and 2.2% respectively.
In contrast, the shilling remained stable against the US dollar, trading within a tight range of KSh 129.25 to KSh 129.80 during the same period.
Economist Daniel Kathali attributed this stability to the Central Bank of Kenya’s (CBK) sufficient US dollar reserves, which have cushioned the shilling from further depreciation.
The shilling also showed minimal fluctuations against regional currencies, slightly strengthening against the Uganda shilling and maintaining near stability with Tanzanian and Rwandese currencies.
Kenya’s foreign exchange reserves rose to $9.808 billion (KSh 1.27 trillion) as of April 17, offering 4.4 months of import cover and helping the CBK meet its statutory requirements.
Source: TUKO.co.ke