The Nigerian Naira has been ranked the ninth weakest currency in Africa, according to the September 2025 report by Forbes currency calculator, highlighting ongoing economic challenges despite recent moderation in inflation.
The ranking is based on real-time foreign exchange data sourced from the Open Exchange Rates API, which updates every five minutes to reflect live trading values.
The system captures the impact of demand and supply, market sentiment, and broader economic conditions on each nation’s currency performance..
According to the 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 on the list 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 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) were ranked as the five strongest currencies in Africa.
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The continent currently has 54 recognised countries, according to the United Nations and geographic data sources.
Meanwhile, a PUNCH Online report highlights that Nigeria’s inflation rate showed significant improvement in 2025, marking a rare disinflationary trend.
The National Bureau of Statistics (NBS) reported that the country’s headline inflation fell from 24.5% in January to 20.12% in August, its fifth consecutive month of decline.
The trend is attributed to stable foreign exchange inflows from oil exports and remittances, better agricultural yields, and the Central Bank of Nigeria’s monetary policy, which held the benchmark rate at 27.5%.