African currencies mostly weakened against the U.S. dollar in September 2026, with only eight recording gains during the month. Data compiled by Nairametrics Research from official exchange rate figures shows that the Liberian dollar, Zimbabwe gold, and the Gambian dalasi were among the continent’s best-performing currencies. The analysis compares each currency’s official exchange rate at the end of August with its closing rate at the end of September.
While eight currencies strengthened, forty-three weakened against the U.S. dollar and three recorded no change. Below are the best-performing currencies in Africa in September 2026. 8. Sierra Leonean Leone (0.17%) The Sierra Leonean leone gained 0.17% against the U.S. dollar during September. The currency strengthened to 24,109 SLE/$ from 24,149 SLE/$ at the end of August. The appreciation placed the leone among the currencies that recorded gains during the month, although its performance was modest compared with those of the leading currencies.
7. Tanzanian Shilling (0.19%) The Tanzanian shilling appreciated by 0.19% against the U.S. dollar in September, strengthening from 2,645 TZS/$ at the end of August to 2,640 TZS/$ at the end of September. The modest gain placed the shilling ahead of the Sierra Leonean leone in the ranking of currencies that strengthened against the dollar during the month. 6. Ethiopian Birr (0.35%) The Ethiopian birr appreciated by 0.35% against the U.S. dollar in September, improving from 162.22 ETB/$ at the end of August to 161.6495 ETB/$ at the end of September.
The gain placed the birr among the six best-performing currencies in the ranking, ahead of the Tanzanian shilling and Sierra Leonean leone. 5. Nigerian Naira (0.45%) The Nigerian naira appreciated by 0.45% against the U.S. dollar in September, strengthening from N1,335.50/$ at the end of August to N1,329.50/$ at the end of September. The naira closed September N6 stronger against the U.S. dollar, extending its positive performance in the month after showing relative resilience in 2026.
4. Mauritanian Ouguiya (0.50%) The Mauritanian ouguiya gained 0.50% against the U.S. dollar during September. The exchange rate improved from 40.16 MRU/$ at the end of August to 39.961 MRU/$ at the end of September. The ouguiya finished just ahead of the naira, the narrowest gap among the top five. 3. Gambian Dalasi (0.74%) The Gambian dalasi gained 0.74% against the U.S. dollar during September.
The currency strengthened to 74.525 GMD/$ from 75.08 GMD/$ at the end of August. The appreciation placed the dalasi third among Africa’s best-performing currencies in September, behind Zimbabwe gold and the Liberian dollar. 2. Zimbabwe Gold (1.84%) Zimbabwe gold was Africa’s second best-performing currency in September 2026, appreciating by 1.84% against the U.S. dollar. The exchange rate improved to 26.636 ZiG/$ at the end of September from 27.136 ZiG/$ at the end of August.
The gain placed Zimbabwe gold second in the ranking, behind the Liberian dollar, which recorded a larger appreciation during the month. 1. Liberian Dollar (2.39%) The Liberian dollar was Africa’s best-performing currency in September 2026, appreciating by 2.39% against the U.S. dollar. The exchange rate improved to 172.424 LRD/$ at the end of September from 176.637 LRD/$ at the end of August.
The 4.213 LRD/$ decline in the exchange rate translated to a 2.39% appreciation of the Liberian dollar against the U.S. dollar. What you should know Several African currencies recorded little or no movement during September. The Malawian kwacha, Djiboutian franc, and Somali shilling were unchanged between August and September. The Sudanese pound also recorded virtually no movement, with its exchange rate changing only marginally.
At the other end of the ranking, the Ghanaian cedi recorded the largest decline at 4.09%, followed by the Zambian kwacha at 3.89% and the Ugandan shilling at 3.57%. The Botswana pula, Cape Verdean escudo, São Tomé and Príncipe dobra, and Malagasy ariary also recorded declines exceeding 2%. Overall, the data show that currency weakness was widespread across Africa in September.
Only eight currencies appreciated against the U.S. dollar, compared with 43 that depreciated and three that recorded no change.
