Top 10 African countries with the weakest currencies in July 2025

Although exports might occasionally become more competitive due to currency depreciation, prolonged currency weakness can have very negative long-term effects, particularly for countries that rely significantly on imports, external debt, and foreign investment.

Inflation is one of the most direct consequences of a weak currency.

Fuel, medicine, machinery, and food are among the essential things that many African countries import.

The cost of these imports rises as the local currency weakens compared to the dollar or euro, raising prices for both consumers and companies.

This increases social instability, erodes purchasing power, and feeds poverty.

The steep drop in the value of the naira since the middle of 2023 has been a major factor in record-high inflation in nations like Nigeria, which topped 32% in the middle of 2025.

A weak currency also heightens the burden of external debt. Many African nations borrow in foreign currencies.

As their local currency depreciates, the cost of repaying these loans in dollar or euro terms rises considerably.

This can result in debt difficulties, defaults, and an increased reliance on foreign bailouts.

Countries such as Zambia and Ethiopia, for example, have had to seek debt restructuring due to their inability to satisfy foreign-currency debt commitments while their native currency has declined.

Furthermore, investor confidence suffers when a country’s currency is volatile.

For African governments that want to raise millions out of poverty and establish internationally competitive economies, stabilizing and strengthening the local currency must be a key focus.

With that said, here are the 10 African countries with the weakest currencies, presently, according to the Forbes currency converter, last updated on the 22nd of July.

Currency value for Burundi, Congo, Malawi, fell, while currency value for Guinea, Uganda, Tanzania, Nigeria, and Rwanda all increased this month compared to the top 10 list last month.