While the US dollar posted mixed performances against African currencies in July 2026, seven currencies across the continent gained ground against the greenback.

According to data from African Markets, cited by BusinessDay, the Botswana pula led the ranking, appreciating by 1.92% against the US dollar during the month.

The CFA franc ranked second, gaining 1.16%, followed by the Nigerian naira, which strengthened by 0.81%.

Zimbabwe’s ZiG also advanced, rising 0.71%. The Moroccan dirham and Tunisian dinar followed with gains of 0.53% and 0.34%, respectively.

The Mauritian rupee, up 0.23%, completed the list.

The Botswana pula leads

The pula recorded the strongest performance among the African currencies tracked in July. It moved from around 14.32 pula per US dollar to 14.06, representing a 1.92% appreciation.

The CFA franc benefits from the euro

The CFA franc gained 1.16% against the dollar, placing it second in the ranking.

The West African CFA franc is pegged to the euro. As a result, movements in the euro against the US dollar can directly influence the CFA franc’s value against the greenback.

Nigeria’s naira continues to strengthen

The Nigerian naira appreciated by 0.81% in July, moving from approximately 1,375.13 naira per dollar to 1,363.95.

The move came amid ongoing efforts by Nigerian authorities to improve foreign-exchange liquidity and stabilize the currency market.

Zimbabwe’s ZiG gains ground

Zimbabwe’s ZiG strengthened by 0.71% against the US dollar in July.

The currency, introduced in 2024, has been supported by measures from Zimbabwe’s monetary authorities aimed at stabilizing the foreign-exchange market and strengthening confidence in the currency.

Morocco and Tunisia also make the list

The Moroccan dirham gained 0.53% against the dollar, while the Tunisian dinar rose 0.34%.

Mauritius’ rupee recorded a more modest gain of 0.23%, completing the seven-currency ranking.

A monthly performance, not a measure of overall currency strength

These figures do not mean that these currencies are stronger than the US dollar in absolute terms.

They reflect their performance against the dollar during July 2026.

Of the 17 major African currencies tracked by African Markets, seven appreciated against the US dollar during the month, according to the data cited by BusinessDay.

The ranking:

1. 🇧🇼 Botswana pula: +1.92%

2. CFA franc: +1.16%

3. 🇳🇬 Nigerian naira: +0.81%

4. 🇿🇼 Zimbabwean ZiG: +0.71%

5. 🇲🇦 Moroccan dirham: +0.53%

6. 🇹🇳 Tunisian dinar: +0.34%

7. 🇲🇺 Mauritian rupee: +0.23%