What up guys? I will be your host on our today’s topic, the top ten weakest currencies in Africa. As a matter of fact, it is a prevalent discussion among youths of many Africa countries today, also it is a burning and cogent matter that many business analysts undergo that most of them quickly come upon the business platform to know the Africa country with the least or currency with least value.
Sit back as we will be taking and wring interesting you need to know about this topic and how currencies of most nation get devalued, it is not our work to do justice or do the ranking but we get our updates from the world ranking body and as a financial expert we underwent the probable problems that amount to this and also study carefully the economical factor of each country on this list, why not take a back seat, read carefully, shares with friends and add to your knowledge store about Africans’ currencies and their value
TOP 10 WEAKEST CURRENCIES IN AFRICA 2018
WHAT IS CURRENCY?
This is a question that looks rhetorical and most people get to think currencies has to do with the money we move up and down in our purse and bank accounts. Funniest thing about the issue of currency is, whenever it is being made mention of, what come to some average individual mind is money, and the shocking fact is the real identity of a currency only splashes through the mind of an expert or someone who has read this write up or someone in the financial world.
Currency in the actual sense is a system of money, a worth of a money, a basic unit of exchange that is equivalent to purported or proposed commodity while money is a substance that is generally accepted as a means of exchange.
This literally means, without a currency system anything called money is not money in the actual sense, a money is only recognized as a money when it is allotted a value (currency)|. Even though we are not here to do justice to differences between money and currency, but what we just what to drive at is, a currency is a system of exchange that makes use of money while a money is a material used for an exchange.
Top 10 Weakest Currencies in Africa 2019
Now to the proper listing of the nation with the cheapest currencies in Africa, we will be going in ascending order and they are as follow;
Top 10 Lowest Currencies In Africa 2019 (Cheapest & Weakest)
1. Sao Tome and Principe Dobra (STD)
Yes, the first position on this list is Sao Tome and Principe currency which is Dobra. It carries a currency code of STD; this currency is so weak that for you to get a bottle of coke or another refreshment you need about 19,000 STD.
The currency is equivalent to $1 US dollars is 20,984.83 STD. sound hilarious right? that is the level of degradation that happens to this country.
2. Guinean Franc (GNF)
On the second position of the weakest currencies in Africa is the Guinean currency which is Franc; the country currency code is GNF. This has its root in the economic problem of this country.
The standard of living in this nation is reduced, to get a bottle of cokde you need about 4,400 GNF. A dollar to GNF is about 9200.55 GNF.