Botswana Pula and Seychellois Rupee Lead African Gains

African currencies recorded highly varied performances against the U.S. dollar in July 2026. Data compiled by Nairametrics Research from central banks shows that the Botswana pula secured the top spot on the continent. The currency appreciated by 3.18%, strengthening from 14.08 BWP/$ at the end of June to 13.63 BWP/$ at the end of July.

The Seychellois rupee followed as the second-best performer, gaining 1.81% during the month to close at 13.51 SCR/$ compared to 13.75 SCR/$ in June. The Comorian franc took third place with a 1.32% gain, moving from 432.72 KMF/$ to 427.00 KMF/$. The Congolese franc was the only other currency to gain more than 1%, appreciating by 1.02% to close at 2,290.00 CDF/$ from 2,313.50 CDF/$.

Naira Posts Modest Appreciation Alongside CFA Franc

The Nigerian naira recorded a positive monthly performance, strengthening by 0.58% against the U.S. dollar. The official exchange rate improved from N1,376/$ at the end of June to N1,368/$ at the end of July, placing the naira eighth among the top-performing currencies.

Other regional currencies also posted gains during the month. The West African CFA franc, shared by Benin, Burkina Faso, Guinea-Bissau, Côte d’Ivoire, Mali, Niger, Senegal, and Togo, appreciated by 0.96% to close at 569.75 XOF/$ from 575.25 XOF/$. The São Tomé and Príncipe dobra gained 0.93% to end at 21.47 STN/$, while the Cape Verdean escudo rose 0.91% to 95.94 CVE/$. The Sierra Leonean leone and Moroccan dirham also advanced, gaining 0.56% and 0.52% respectively.

South Sudanese Pound and Egyptian Pound Face Deepest Declines

While several currencies strengthened, 19 of the 54 African currencies weakened against the U.S. dollar in July. The South Sudanese pound recorded the largest decline on the continent, falling by 6.37%. The Egyptian pound also faced significant pressure, depreciating by 4.11% during the month.

The Ghanaian cedi fell by 3.18%, matching the percentage movement of the top-performing pula but in the opposite direction. Other notable decliners included the Zambian kwacha, Ugandan shilling, Malagasy ariary, and the Ethiopian birr, all of which recorded losses exceeding 1%. Meanwhile, the currencies of Malawi, Djibouti, Eritrea, Somalia, and Mozambique remained unchanged.