We present you the 10 Most Expensive Currencies in Africa!
Currencies in Africa became what they are today not so long ago, due to late economic development, the abolition of slavery, and European influence. Although a lot of things in Africa have changed for the better, especially from the seventeenth century, the economy is not among those things. Currencies are not used all over the continent. Instead, bartering, exchanging items, and haggling is very common and still holds a strong presence in many rural areas. We’re also not exactly sure how long the currencies holding their spot today will hold out in the future, as most of them aren’t very stable. Not so long ago we wrote about the 10 most expensive currencies in the world, so take a look, and see the difference between that list and today’s one.
In Africa, inflation often creates a demand for more stable, but forbidden foreign currencies. Because most of the African countries achieved independence during the 20th century or so, such a thing is hard to manage, especially when these same countries have changed their currency from top to bottom. Let us not waste any more time on history lessons, but rather check out the 10 most expensive, or strongest currencies in Africa, shall we?
10. Eritrean Nakfa
The currency of Eritrea, a country you probably haven’t heard of before, lies in 10th place with its Nakfa. Eritrea split from Ethiopia in the early 90’s but in that little time the country managed to develop into having a currency of similar value to the South African Rand. One Eritrean Nakfa in exchange will give you $0.065.