Several African countries remain under scrutiny over their foreign exchange regimes, that are often strictly managed by states in the face of thin reserves and dollar shortages. Here is a list of the leading African countries and their various official exchange rates as of July 2022.
An exchange rate is the price at which one currency can be exchanged for another between individuals, nations, or economic zones. It is used to determine the value of various currencies in relation to each other and is important in determining trade and capital flow dynamics.
A country’s exchange rate is usually determined by factors such as the value of the domestic currency, and the value of the foreign currency. Several African countries remain under scrutiny over their foreign exchange regimes, that are often strictly managed by states in the face of thin reserves and dollar shortages.
Here is a list of the leading African countries and their various official exchange rates as of July 2022.
US Dollars
Country | Official Rate (July 2021) | Official Rate (July 2022) |
| Angola | 638.9999 | 430.9049 |
Nigeria | 410.38 | 414.96 |
Algeria | 134.74 | 145.6792 |
Kenya | 108.5498 | 118.6701 |
Ethiopia | 44.2856 | 52.5899 |
Egypt | 15.6902 | 18.9606 |
South Africa | 14.1814 | 16.7959 |
Morocco | 8.9494 | 10.2016 |
Ghana | 5.9306 | 8.2726 |
British Pounds
Country | Official Rate (July 2021) | Official Rate (July 2022) |
Angola | 883.5267 | 519.4091 |
Nigeria | 569.1675 | 508.0477 |
Algeria | 185.91 | 175.87 |
Kenya | 150.0887 | 143.0439 |
Ethiopia | 61.2324 | 63.3914 |
Egypt | 21.6944 | 22.855 |
South Africa | 20.4388 | 20.2457 |
Morocco | 12.3741 | 12.2969 |
Ghana | 8.2 | 9.9717 |
Compiled by Mustard Insights from official sources.
NB: These exchange rates were collated on the 25th of July 2022.
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