The Nigerian naira has been ranked as the ninth weakest currency in Africa, according to a September 2025 report by the Forbes currency calculator.
Despite a rare slowdown in inflation this year, the ranking underlines the ongoing pressure on Nigeria’s exchange rate.
The Forbes tool, which tracks real-time foreign exchange market data via the Open Exchange Rates API, listed the ten weakest African currencies against the US dollar.
Africa’s Weakest Currencies – September 2025
São Tomé & Príncipe Dobra – 22,282 per $1
Sierra Leonean Leone – 20,970 per $1
Guinean Franc – 8,680 per $1
Ugandan Shilling – 3,503 per $1
Burundian Franc – 2,968 per $1
Congolese Franc – 2,811 per $1
Tanzanian Shilling – 2,465 per $1
Malawian Kwacha – 1,737 per $1
Nigerian Naira – ₦1,490 per $1
Rwandan Franc – 1,448 per $1
By contrast, the Tunisian dinar (2.90 per $1), Libyan dinar (5.40 per $1), Moroccan dirham (9.91 per $1), Ghanaian cedi (12.31 per $1) and Botswanan pula (14.15 per $1) were ranked as the continent’s strongest currencies.
Inflation Eases, But Naira Remains Fragile
Nigeria’s National Bureau of Statistics (NBS) recently reported that headline inflation fell from 24.5% in January to 20.12% in August – the sharpest mid-year slowdown in over a decade.
The Independent Media and Policy Initiative (IMPI) described the disinflation as “rare”, with chairman Dr Omoniyi Akinsiju forecasting that inflation could drop to 17% by December 2025.
Still, the pressure on the naira in the foreign exchange market remains a stubborn concern for Africa’s largest economy.
