Nigeria, Uganda, 8 other African countries with weakest currencies in 2025

Currency stability remains a key indicator of economic health and investor confidence.

In Africa, however, 2025 has been a challenging year for several nations facing significant pressure on their local currencies.

From soaring inflation to import dependence and weak export bases, multiple African economies are struggling to maintain the value of their national currencies against the US dollar.

A recent report by Business Insider Africa, citing data from the Forbes currency calculator as of June 23, 2025, provides a snapshot of the continent’s most devalued currencies.

The rankings reflect not just exchange rate figures but also deeper macroeconomic vulnerabilities, such as fiscal deficits, external debt burdens, and limited foreign reserves.

In many of these countries, currency depreciation has had direct implications for citizens—raising the cost of imported goods, eroding purchasing power, and fuelling further inflation.

While some governments have initiated policy reforms to halt the slide, recovery remains slow and uneven.

1. São Tomé and Príncipe – Dobra (STN)

The Dobra is the weakest currency in Africa, trading at 22,281.80 per US dollar.

The island nation’s limited economic base and dependence on imports have exacerbated its forex challenges.

2. Sierra Leone – Leone (SLL)

Trading at 20,969.50 per dollar, the Leone continues to struggle amid high inflation, a fragile economy, and post-pandemic fiscal strain.

3. Guinea – Guinean Franc (GNF)

The Guinean Franc stands at 8,657.48 per dollar.

Despite being rich in mineral resources, Guinea faces governance and structural issues that hamper currency stability.

4. Uganda – Ugandan Shilling (UGX)

At 3,605.57 per dollar, Uganda’s shilling reflects pressures from a rising import bill and global economic headwinds, although the country has shown relative macroeconomic resilience.

5. Burundi – Burundian Franc (BIF)

The Burundian Franc, at 2,975.85 per dollar, mirrors the country’s broader economic struggles, including low foreign investment and political uncertainties.

6. Democratic Republic of the Congo – Congolese Franc (CDF)

With an exchange rate of 2,905.28 to the dollar, the CDF is affected by political instability and reliance on volatile commodity exports.

7. Tanzania – Tanzanian Shilling (TZS)

The Tanzanian Shilling trades at 2,653.06 per dollar.

Though relatively stable compared to others on this list, its weakening reflects broader regional economic trends and external pressures.

8. Malawi – Malawian Kwacha (MWK)

At 1,732.71 per dollar, the Kwacha has struggled with high inflation, fuel shortages, and a weak export portfolio, particularly in agriculture.

9. Nigeria – Naira (NGN)

The Naira has depreciated significantly in recent months, now exchanging at 1,553.68 per dollar.

Despite government reforms and exchange rate unification, the currency remains under pressure due to inflation, subsidy removals, and declining oil revenues.

10. Rwanda – Rwandan Franc (RWF)

Rounding out the list is the Rwandan Franc at 1,448.29 per dollar.

Rwanda’s disciplined fiscal policies have helped limit volatility, but the country still faces the effects of a strong dollar and rising import costs.