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Naira Rates Compared to Other African Countries

Naira Rates Compared to Other African Countries

I felt only a few African countries could have stronger currencies than the naira but I was shocked and ashamed with what I found out. Different denominations of the naira (Naij.) I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.

As usual, after calculating the exchange rate, what I wanted to get was on the high side.

I just became humble and cancelled the transaction. I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with. Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira 

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8 Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

 The currencies of some worse economies in Africa have better value than the naira. So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.


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