The strongest and powerful currencies in Africa
Africa is a continent that has many countries in it. And their currencies differs according to their value in other countries.
Many years ago, African medium of exchange was trade by batter. Where service is exchanged for goods and vice versa.
Africa today have evolved from trade by batter to cowries, coins to paper money.
Each country compete for the highest currency, hence, each tries to make her source of income to be stable.
For a country’s currency to be strong and rated as the highest, it must be volatile in the Forex market, cheaper to import goods, trades higher than ever.
When the price of a nation’s commodity increases, its currency tends to be stronger.
NOTE: There are some African currencies that is appended to other foreign currency.
To prove this saying, West African like Ivory Coast, Mali, Burkina Faso, Senegal, Togo and Guinea Bissau currencies are backed by French CFA franc. Again, Central Africa Republic, Equatorial, republic of Congo, Cameroon, Gabon, Chad has the Central African CFA franc as their medium of exchange.
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