10 African Countries With the Weakest Currencies Against the Dollar in August 2026

Several African currencies have come under pressure against the US dollar in 2026, increasing the cost of imports and putting additional strain on households and businesses across the continent.

Currency depreciation can have wide-ranging effects on an economy, particularly in countries that depend heavily on imported fuel, food, machinery, medicines and raw materials.

Ghana's cedi has recently weakened amid strong demand for US dollars from businesses and offshore investors. Reuters reported that the cedi fell to about GH¢11 per dollar on August 20, compared with GH¢10.90 a week earlier.

Demand for foreign currency has remained high, with a recent Bank of Ghana dollar auction receiving bids worth about $399 million, while only $125 million was allocated.

Ethiopia has also faced significant pressure on its currency. The country's central bank has reportedly spent around $2.2 billion this year attempting to support the birr. Despite those efforts, the currency has continued to decline, falling about 3.2% against the dollar and trading close to 162 birr per dollar.

The depreciation of African currencies has important consequences for consumers and businesses. Importers must spend more local currency to purchase goods priced in dollars, which can eventually translate into higher prices in shops and markets.

Manufacturers that rely on imported machinery or raw materials may also face rising production costs. Smaller businesses can be particularly vulnerable because they often have limited financial capacity to absorb higher expenses.

Governments and companies with debts denominated in US dollars may face an additional burden as well, because more local currency is required to repay the same amount of dollar-denominated debt.

For ordinary households, currency weakness can reduce purchasing power, particularly when wages fail to keep pace with rising prices.

The situation in Ghana and Ethiopia highlights the broader challenges facing several African economies as demand for foreign currency, import costs and global commodity prices continue to influence exchange rates.

Based on August 2026 exchange-rate data cited by Business Insider Africa from the Forbes currency calculator, the following are among the African countries with the weakest currencies against the US dollar.If you want, I can also turn this into a shorter Nigerian newspaper-style version with a more attention-grabbing headline.

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