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African currencies mostly weakened against the U.S. dollar in October 2026, with only nine of the 54 country-level entries examined recording gains during the month.
Data compiled by Nairametrics Research from official exchange rate figures show that the Sierra Leonean leone, Seychellois rupee and Mauritian rupee were among the continent’s best-performing currencies.
The analysis compares official exchange rates at the end of September and October.
39 countries recorded depreciation and six remained unchanged. The figures include repeated entries for the Central African and West African CFA francs, which are shared currencies used by multiple countries.
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Below are the best-performing currencies in Africa in October 2026.
9. Somali Shilling (0.02%)
The Somali shilling appreciated by 0.02% against the U.S. dollar during October.
The currency strengthened marginally to 571.36 SOS/$ from 571.50 SOS/$ at the end of September.
Its movement was the smallest among the nine gainers, reflecting an almost unchanged exchange rate during the month.
8. Mozambican Metical (0.06%)
The Mozambican metical appreciated by 0.06% against the U.S. dollar in October, strengthening from 63.64 MZN/$ at the end of September to 63.60 MZN/$ at the end of October.
The gain was marginal, with the currency recording only a slight improvement in its exchange rate during the month.
7. Ethiopian Birr (0.13%)
The Ethiopian birr appreciated by 0.13% against the U.S. dollar in October, improving from 161.65 ETB/$ at the end of September to 161.44 ETB/$ at the end of October.
The gain kept the birr among the currencies recording appreciation for a second consecutive month, although its performance was weaker than the 0.35% appreciation recorded in September.
6. Liberian Dollar (0.59%)
The Liberian dollar appreciated by 0.59% against the U.S. dollar, strengthening from 170.00 LRD/$ at the end of September to 169.00 LRD/$ at the end of October.
The currency maintained its positive performance after emerging as Africa’s best-performing currency in September, although its October appreciation was smaller.
5. Ghanaian Cedi (0.60%)
The Ghanaian cedi gained 0.60% against the U.S. dollar during October.
Its exchange rate improved from 11.71 GHS/$ at the end of September to 11.64 GHS/$ at the end of October.
The appreciation marked a notable rebound for the currency after it recorded the largest depreciation among the African currencies examined in September. It also placed marginally ahead of the Liberian dollar in October’s ranking.
4. Botswana Pula (0.87%)
The Botswana pula appreciated by 0.87% against the U.S. dollar during October.
The currency strengthened to 13.82 BWP/$ from 13.95 BWP/$ at the end of September.
The gain represented a reversal from September, when the pula was among the African currencies that depreciated by more than 2%.
3. Mauritian Rupee (1.01%)
The Mauritian rupee gained 1.01% against the U.S. dollar in October.
The currency strengthened from 47.76 MUR/$ at the end of September to 47.28 MUR/$ at the end of October.
Its appreciation placed it among the three strongest-performing African currencies for the month, with only the Seychellois rupee and Sierra Leonean leone recording larger gains.
2. Seychellois Rupee (1.89%)
The Seychellois rupee was Africa’s second-best-performing currency in October 2026, appreciating by 1.89% against the U.S. dollar.
The exchange rate improved to 13.76 SCR/$ at the end of October from 14.03 SCR/$ at the end of September.
Its performance was significantly stronger than the Mauritian rupee’s 1.01% appreciation, although it fell short of the Sierra Leonean leone’s leading gain.
1. Sierra Leonean Leone (3.14%)
The Sierra Leonean leone was Africa’s best-performing currency in October 2026, appreciating by 3.14% against the U.S. dollar.
The exchange rate strengthened to 23,351 SLE/$ at the end of October from 24,109 SLE/$ at the end of September.
The 758 SLE/$ decline in the exchange rate translated to a 3.14% appreciation against the U.S. dollar, lifting the leone from eighth place in September to the top of the October ranking.
What you should know
In a previously reported article, Nairametrics reported that the Liberian dollar led Africa’s currency gains in September with a 2.39% appreciation, while the Sierra Leonean leone ranked eighth at 0.17%. The leone rose to first place in October with a 3.14% gain.
Six currencies remained unchanged against the U.S. dollar in October: the Sudanese pound, Tanzanian shilling, Malawian kwacha, Djiboutian franc, Angolan kwanza and Eritrean nakfa.
At the other end, the Ugandan shilling recorded the largest depreciation at 8.67%, followed by the Egyptian pound at 7.89% and the Malagasy ariary at 3.40%. The Nigerian naira also weakened by 1.24%.
Overall, 39 country-level entries depreciated against the U.S. dollar, compared with nine that appreciated and six that remained unchanged.
