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The Nigerian Naira has been ranked the ninth weakest currency in Africa, according to a Forbes currency calculator report for September 2025, underscoring the lingering strain on the economy despite recent signs of easing inflation.
The Forbes currency calculator, which sources real-time foreign exchange market data via the Open Exchange Rates API, updates every five minutes to reflect live trading values. The platform tracks the impact of demand and supply, market sentiment, and broader economic conditions on each nation’s currency performance.
According to the latest data, the São Tomé & PrÃncipe Dobra (22,282 per $1) topped the list of Africa’s weakest currencies, followed by the Sierra Leonean Leone (20,970), Guinean Franc (8,680), Ugandan Shilling (3,503), and Burundian Franc (2,968). Others include the Congolese Franc (2,811), Tanzanian Shilling (2,465), Malawian Kwacha (1,737), the Nigerian Naira (₦1,490 per $1), and the Rwandan Franc (1,448).
In sharp contrast, the Tunisian Dinar (2.90 per $1), Libyan Dinar (5.40), Moroccan Dirham (9.91), Ghanaian Cedi (12.31), and Botswanan Pula (14.15) emerged as the continent’s five strongest currencies. Africa currently has 54 recognised countries, according to the United Nations.
While the Naira’s weakness highlights structural challenges, Nigeria has seen some relief on the inflation front. The National Bureau of Statistics (NBS) reported that headline inflation dropped from 24.5% in January to 20.12% in August 2025, marking the fifth consecutive month of decline.
