African currencies posted mixed performances against the U.S. dollar in May 2026, with only a few recording meaningful gains amid shifts in capital flows, commodity prices, central bank actions, and domestic macroeconomic conditions.
- +Best performing currencies in Africa – May 2026
The data compiled by Nairametrics Research from central banks show that the Zambian Kwacha, Egyptian pound, and the Namibian Dollar were the best-performing currencies on the continent during the month.
The data compiled by Nairametrics Research from central banks show that the Zambian Kwacha, Egyptian pound, and the Namibian Dollar were the best-performing currencies on the continent during the month.
While many African currencies continue to face pressure from global economic uncertainty and domestic inflation concerns, the currencies on this list managed to post positive returns.
The Moroccan dirham appreciated by 0.53% in May, with the exchange rate improving to 9.19 MAD/$ from 9.23MAD/$.
Although the gain was modest compared to other currencies on the list, the performance reflects the relative stability of Morocco’s managed exchange rate regime. The country continues to benefit from strong tourism receipts, remittances, and diversified export earnings.
