African countries and their currencies with symbols
How many countries are in Africa? What are their local currencies? What is the symbol of each currency? These are some questions asked by Nigerians and other nations in Africa. We are happy to answer them.
Being educated is very important nowadays. Even if you don’t live in Africa, it is amazing if you know what local countries are here, or, at least, how many of them are located on this continent. It is also wonderful if you can name the highest currency in Africa (even if you are not able to name all the currencies used here). Are you ready for some impressive details?
How many countries are in Africa
The African continent includes 54 countries. There are some sources that add two more countries to the list (but their independence is not recognized), and there are sources that mention only 47 areas. In our post, we will mention only African countries and their currencies for territories that are recognized by the whole world. We won’t add the disputed areas to our selection. Both United Nations and African Union mention the 54 official states. Each country has its currency.
African currency
There were times when people who live in African had to use precious minerals and other methods of payment (gold, iron, salt, bronze etc.). This was African currency centuries ago. People were happy to trade in products for animals, beads, different goods.
Civilization brought a big variety of currencies to the continent. People began using liras, shillings, francs, and other types of payment that were brought by colonial governments. Today, each of the 55 countries has its own symbol and name for their currency.
While the word ‘currency’ means an official exchange medium, it is used to pay legally for products inside the country and exchanged in international places for their local currency to pay for services and goods. There are two main types of currencies used in Africa and across the globe:
- Banknotes (or paper notes)
- Coins
Each type of money (only the government can issue coins and banknotes) has its personal symbol. This is how you can distinguish between the different currencies used globally.
READ ALSO: Highest currency in the world 2018 - Top 10
Countries with currencies plus currency symbols
- Algeria uses Algerian Dinar - دج
- Angola’s currency is Angolan Kwanza - Kz
- Benin, Cameroon, Cote d’Ivoire, Guinea-Bissau, Mali, Niger and Burkina Faso use West African CFA franc - XOF
- Botswana’s currency is Pula (BWP) - P
- Burundi uses its own Burundi Franc - BIF
- Cape Verge’s currency is Cape Verdean Escudo - CVE
- Chad, Central African Republic, Gabon, Togo and Equatorial Guinea use Central African CFA franc - XAF
- Comoros’ currency is Comorian franc - KMF
- Congo is using Congolese Franc - CDF
- Djibouti’s currency is Franc - DJF
- Egypt’s currency is Egyptian pound - EGP
- Eritrea is using Nakfa - ERN
- Ethiopia’s currency is Birr - ETB
- The Gambia is using Dalasi - GMD
- Ghana’s currency is Ghana cedi - GH₵
- Guinea’s currency is Guinea Franc - GNF
- Kenya is using Kenyan shilling - KSh
- Lesotho’s currency is Lesotho Ioti - L or M
- Liberia’s currency is Liberian Dollar - L$
- Libya is using Libyan Dinar - LD, ل.د
- Madagascar’s currency is Malagasy ariary - Ar
- Malawi is using Kwacha - MK
- Mauritania’s currency is Ouguiya - UM
- Mauritius is using Mauritian rupee - ₨
- Morocco’s currency is Moroccan Dirham - MAD
- Mozambique is using Mozambican metical - MT
- Namibia’s currency is Namibian dollar - N$
- Nigeria is using Naira - ₦
- Rwanda’s currency is Rwanda Franc - FRw, R₣, RF
- Sao Tome & Principe is using Dobra - Db
- Senegal’s currency is CFA franc - XOF
- Seychelles’ currency is Seychellois rupee - SCR
- Sierra Leone is using Sierra Leonean leone - SLL
- Somalia’s currency is Somali Shilling - Sh.so.
- South Africa is using South African Rand - ZAR
- South Sudan’s currency is South Sudanese pound - SSP
- Sudan is using Sudanese pound - SDG
- Swaziland’s currency is Lilangeni - E, L
- Tanzania is using Tanzanian Schilling - TSh
- Tunisia’s currency is Tunisian Dinar - د.ت, DT
- Uganda’s currency is Uganda Shilling - USh
- Zambia is using Zambian Kwacha - ZMK
- Zimbabwe’s currency is Zimbabwean Dollar - ZWD
Highest currency in Africa
So what is one of the most valuable African currencies? It is important to compare the currencies used across the continent with U.S. dollars and Nigerian’s Niara because dollars are widely used all over the world and Nigeria is the country with the biggest population in Africa.
If we take into consideration both currencies, we will see that Libya (Libyan Dinar or LYD), Tunisia (Dinar or TND) and Ghana (Cedi or GHS) are probably the strongest or highest currencies in the whole African continent this year.
Now you know the countries located in Africa, their local currency along with symbols and the strongest currencies on this continent.
READ ALSO: Highest currency in Africa 2017 - Top 10
Source: Legit.ng
