Africa's Top Currency in July Gained 3.18% vs Dollar

The Botswana pula was Africa's best-performing currency in July 2026, appreciating 3.18% against the U.S. dollar, according to an analysis by Nairametrics Research that tracked official exchange rates across all 54 African currencies. The pula strengthened from 14.08 BWP/$ at the end of June to 13.63 BWP/$ by the end of July.

The ranking, compiled from central bank data, compares each currency's official exchange rate at the close of June against the last available rate at the end of July. While ten currencies posted gains, 19 weakened and five remained flat.

Contents

01

The Top Three: Pula, Rupee, and Franc

02

Mid-Tier Gainers Hold Their Ground

03

Nigeria's Naira Edges into Positive Territory

04

Nineteen Currencies Slide Against the Dollar

05

What the Data Shows

The Top Three: Pula, Rupee, and Franc

Botswana's pula dominated with its 3.18% gain, the only African currency to break the 2% threshold. The Seychellois rupee took second place, gaining 1.81% as it strengthened to 13.51 SCR/$ from 13.75 SCR/$ at the end of June.

The Comorian franc rounded out the top three with a 1.32% appreciation, improving from 432.72 KMF/$ to 427.00 KMF/$ by the end of July.

Mid-Tier Gainers Hold Their Ground

The Congolese franc claimed fourth place with a 1.02% gain, moving from 2,313.50 CDF/$ to 2,290.00 CDF/$. It was followed by the West African CFA franc, which appreciated 0.96% to 569.75 XOF/$, and the São Tomé and Príncipe dobra, which gained 0.93% to reach 21.47 STN/$.

The Cape Verdean escudo posted a 0.91% appreciation, strengthening from 96.82 CVE/$ to 95.94 CVE/$, securing seventh place.

Nigeria's Naira Edges into Positive Territory

The Nigerian naira appreciated 0.58% against the dollar in July, strengthening from N1,376/$ at the end of June to N1,368/$ at the end of July. The gain kept the naira among the minority of African currencies that moved in a positive direction during the month.

Separate data from Trading Economics showed the naira trading at 1,361.37 per dollar on August 12, 2026, reflecting a 1.42% gain over the preceding month. The currency has recovered significantly from its all-time low of 1,717.50 reached in November 2024.

The Sierra Leonean leone and Moroccan dirham completed the top ten, gaining 0.56% and 0.52% respectively. The leone strengthened to 24.062 SLE/$, while the dirham improved to 9.34 MAD/$.

Nineteen Currencies Slide Against the Dollar

While the top ten posted gains, 19 of Africa's 54 currencies weakened against the dollar in July. The South Sudanese pound recorded the steepest decline at 6.37%, followed by the Egyptian pound at 4.11% and the Ghanaian cedi at 3.18%.

The currencies of Malawi, Djibouti, Eritrea, Somalia, and Mozambique remained unchanged between June and July.

What the Data Shows

The July figures highlight an uneven foreign exchange landscape across the continent. The Nairametrics Research analysis draws exclusively on official central bank rates and does not capture parallel or black-market exchange rates, which in several African economies diverge sharply from official figures.