14/11/2025
Forbes Ranks Naira Among Africa’s Weakest Currencies at ₦1,490/$1
The Nigerian Naira has been ranked the ninth weakest currency in Africa, according to Forbes’ September 2025 currency calculator, underscoring the lingering strain on Nigeria’s economy despite recent signs of improvement. The Forbes calculator, which pulls live foreign exchange data through the Open Exchange Rates API and updates every five minutes, tracks the impact of market demand, supply, and economic conditions on currency performance across the continent.
According to the ranking, the weakest currency in Africa is the São Tomé & Príncipe Dobra, trading at 22,282 per dollar, followed by the Sierra Leonean Leone at 20,970, the Guinean Franc at 8,680, the Ugandan Shilling at 3,503, and the Burundian Franc at 2,968. Others on the list include the Congolese Franc at 2,811, the Tanzanian Shilling at 2,465, the Malawian Kwacha at 1,737, the Nigerian Naira at ₦1,490 per dollar, and the Rwandan Franc at 1,448. By contrast, the continent’s strongest currencies are led by the Tunisian Dinar at 2.90 per dollar, the Libyan Dinar at 5.40, the Moroccan Dirham at 9.91, the Ghanaian Cedi at 12.31, and the Botswanan P**a at 14.15.
Despite the Naira’s weak standing, Nigeria’s inflation outlook has brightened in 2025. Data from the National Bureau of Statistics shows that headline inflation dropped from 24.5 percent in January to 20.12 percent in August, marking five consecutive months of decline. The improvement has been linked to steady foreign exchange inflows from oil exports and remittances, improved agricultural yields, and the Central Bank of Nigeria’s decision to maintain its benchmark interest rate at 27.5 percent. The Independent Media and Policy Initiative also described the slowdown as the sharpest mid-year disinflation Nigeria has seen in over a decade. Its chairman, Dr. Omoniyi Akinsiju, noted that inflation could fall to 17 percent by December 2025, providing further relief for households and businesses.
