Before taking a look at the top five strongest currencies in West Africa, it may be worth noting that as of 1st January 2017, the strongest currency in Africa was the Libyan Dinar. However, despite the conflict Libya had gone through, the country has managed to keep its currency stable and at the peak making the Dinar the most valuable and strongest currency in the continent. As of the time this post was published, the exchange rate was about 1.4116 Libyan Dinars to a Dollar.
Focusing on West Africa, factors such as inflation and unrealistic government monetary policies has led to massive fluctuation in the unit of monetary value to dollar across the region. This article takes a concise look at the top five (5) strongest currencies within the West African region.
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West African Countries
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Currency
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Current Rate to a Dollar($) 2017
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Benin
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Burkina Faso
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West African CFA Franc
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1 (WA) CFA =0.0018USD
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Equatorial Guinea
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1 (WA) CFA =0.0018USD
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Gambia
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Dalasi
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1 Dalasi = 0.021 USD
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Ghana
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Ghanaian Cedi
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1 Cedi = 0.23 USD
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Guinea
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Guinean Franc
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1 Guinean Franc = 0.00011 USD
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Guinea Bissau
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West African CFA Franc
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1 (WA) CFA =0.0018USD
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Ivory Coast
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West African CFA Franc
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1 (WA) CFA =0.0018USD
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Liberia
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Liberian Dollar
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1 Liberian Dollar = 0.0085 USD
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Mauritania
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Ouguiya
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1 Ouguiya = 0.0027 USD
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Nigeria
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Naira
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1 Naira = 0.0028 USD
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Sao Tome and Principe
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Dobra
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1 Dobra = 0.000048 USD
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Senegal
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West African CFA Franc
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1 (WA) CFA =0.0018USD
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Togo
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West African CFA Franc
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1 (WA) CFA =0.0018USD
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Therefore from the above table, let’s filter out the top five strongest currency in West Africa.
The Ghanaian Cedi top the list of the strongest currency in West Africa and therefore occupies the number one (1) position. Four (4) Ghanaian Cedi is equivalent to one (1) dollar.
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| One Ghanaian Cedi |
The Gambian Dalasi occupies the second spot on the top 5 strongest currencies in West Africa. Approximately 48 Gambian Dalasi is equivalent to a dollar.
The Liberian Dollar takes the third position on the list of West African strongest currencies. 118 Liberian dollar is equivalent ti one (1) USD.
Occupying the fourth position is the Nigerian Naira. About 360 Naira is equivalent to one USD.
The Mauritanian Ouguiya occupies the 5th position on the top 5 strongest West African Currencies. About 371 Ouguiya is equivalent to one (1) USD.
The weakest currency in West Africa is obviously the Sao Tome and Principe Dobra which as an exchange rate of about 20833 Dobra to 1 Dollar.
