Nigeria’s headline inflation has risen steadily between July 2023 and June 2024
Prices of food items like tomatoes, yams, Irish potatoes, and brown beans have witnessed more than a 250% increase over the past 12 months in Nigeria. The country's headline inflation rate went from 24.08% in July 2023 to 34.19% in June 2024.
Tunisia held the top spot with the strongest African currency, trading at 3.11 TND per USD in 2024.
Libya followed as the second-strongest, with an exchange rate of 4.83 LYD per USD.
Morocco maintained a strong regional position, with its dirham trading at 9.94 MAD per USD.
Botswana’s pula was relatively stable, exchanging at 13.56 per USD, highlighting Southern Africa’s economic steadiness.
Ghana and Seychelles had closely matched exchange rates, trading at 14.48 and 14.53 to the dollar, respectively.
South Africa, Lesotho, Namibia, and Eswatini all shared almost identical exchange rates of around 18.32–18.33 per USD, showing tight regional monetary coordination.