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List Of African Currencies You Really Should Know

List Of African Currencies You Really Should Know List of currencies in Africa

List of currencies in Africa / List Of African Currencies You Really Should Know. African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they administered.

As African countries achieved independence during the 20th century, some retained the new denominations that had been introduced, though others renamed their currencies for various reasons. Today inflation often creates a demand for more stable (but forbidden) foreign currency, while in rural areas the original bartering system is still in widespread usage. As of January 1, 2013, the Zambian Kwacha (ZMW) has the strongest currency in Africa.

List Of African Currencies You Really Should Know. African currencies used to include shells, ingots, gold, iron, salt, cattle, and many other materials and goods. The continent is now a long way from then and different African countries now have their unique currencies with which they trade within and outside their borders.

Different African currencies are now in circulation, of which two, the West African CFA franc and the Central African CFA franc are used in 8 independent countries and 6 independent countries respectively.

The different African currencies have their strengths and weaknesses. The Libyan Dinar, for instance, has an exchange rate of less than 2 Libyan dinars to a dollar. The South African Rand is among the most-traded currencies in the international forex market and the Zimbabwean dollar has since died and been replaced in Zimbabwe by the US dollar and the South African Rand. Below we list all currencies of Africa with their ISO-4217 codes.

List of African Currencies

Country Currency ISO-4217
A
Algeria Algerian dinar DZD
Angola Angolan Kwanza AOA
B
Benin West African CFA franc XOF
Botswana Botswana Pula BWP
Burkina Faso West African CFA franc XOF
Burundi Burundi franc BIF
C
Cabo Verde Cape Verdean escudo CVE
Cameroon Central African CFA franc XAF
Central African Republic Central African CFA franc XAF
Chad Central African CFA franc XAF
Comoros Comorian franc KMF
The Democratic Republic of the Congo Congolese franc CDF
Congo Central African CFA franc XAF
Cote d’Ivoire West African CFA franc XOF
D
Djibouti Djiboutian franc DJF
E
Egypt Egyptian pound EGP
Equatorial Guinea Central African CFA franc XAF
Eritrea Eritrean nakfa ERN
Ethiopia Ethiopian Birr ETB
G
Gabon Central African CFA franc XAF
Gambia Gambian Dalasi GMD
Ghana Ghanaian cedi GHS
Guinea Guinean franc GNF
Guinea-Bissau West African CFA franc XOF
K
Kenya Kenyan shilling KES
L
Lesotho Lesotho Loti LSL
Liberia Liberian dollar LRD
Libya Libyan dinar LYD
M
Madagascar Malagasy Ariary MGA
Malawi Malawian kwacha MWK
Mali West African CFA franc XOF
Mauritania Mauritanian ouguiya MRO
Mauritius Mauritian rupee MUR
Morocco Moroccan dirham MAD
Mozambique Mozambican metical MZN
N
Namibia Namibian dollar NAD
Niger West African CFA franc XOF
Nigeria Nigerian Naira NGN
R
Rwanda Rwandan franc RWF
S
Sao Tome and Principe Sao Tome and Principe dobra STD
Senegal West African CFA franc XOF
Seychelles Seychellois rupee SCR
Sierra Leone Sierra Leonean Leone SLL
Somalia Somali shilling SOS
South Africa South African Rand ZAR
South Sudan South Sudanese pound SSP
Sudan Sudanese pound SDG
Swaziland Swazi lilangeni SZL
T
Tanzania Tanzanian shilling TZS
Togo West African CFA franc XOF
Tunisia Tunisian dinar TND
U
Uganda Ugandan shilling UGX
Z
Zambia Zambian kwacha ZMW
Zimbabwe United States dollar USD

Olivia Colman

Written by Olivia Colman

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