Nigeria’s currency crisis continues to weigh on its economy as the Forbes currency calculator report for September 2025 ranked the Naira the ninth weakest currency in Africa.
The latest ranking highlights the persistent strain on Nigeria’s economy despite recent signs of relief from inflationary pressures.
Forbes’ currency calculator, which pulls real-time foreign exchange market data through the Open Exchange Rates API, updates every five minutes to capture live currency values.
The ranking reflects the influence of demand and supply, investor sentiment, and wider economic conditions on African currencies.
According to the data, the São Tomé & Príncipe Dobra, trading at 22,282 per U.S. dollar, is currently Africa’s weakest currency.
It was followed by the Sierra Leonean Leone (20,970), Guinean Franc (8,680), Ugandan Shilling (3,503), and Burundian Franc (2,968).
Others in the bottom 10 include the Congolese Franc (2,811), Tanzanian Shilling (2,465), Malawian Kwacha (1,737), Nigerian Naira (₦1,490 per $1), and Rwandan Franc (1,448).
In contrast, the Tunisian Dinar ranked as Africa’s strongest currency at 2.90 per U.S. dollar, followed by the Libyan Dinar (5.40), Moroccan Dirham (9.91), Ghanaian Cedi (12.31), and Botswanan Pula (14.15).
Nigeria’s economic backdrop tells a complex story.
The National Bureau of Statistics (NBS) recently reported that headline inflation slowed for the fifth straight month, dropping from 24.5 percent in January to 20.12 percent in August.
Analysts attribute the trend to improved agricultural yields, steady foreign exchange inflows from oil sales and remittances, and tighter monetary policy.
The Central Bank of Nigeria has kept its benchmark interest rate at 27.5 percent in a bid to stabilize the economy.
Still, the Naira’s placement among Africa’s weakest currencies underscores the ongoing challenges of exchange rate volatility, import dependence, and sluggish investor confidence.
