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What currencies are used in Africa?

The West African CFA franc used by 8 independent countries and the Central African franc used by 6 different countries are the two notable ones amongst the different national currencies that are circulated across the African continent.

What currency does South Africa use?

The South African Rand is the only currency of the continent that is used in four countries officially. Introduced in the year 1961 by the colonial government the South African Rand replaced the South African Pound and was one of the most valuable currencies used across the world.

What is the most traded currency in Africa?

The fixed exchange rate guarantees the relative stability of the currency and at present both of these have been pegged to the Euro. Placed at the end in the list of top 20 most traded currency of the world is the South African rand which is the only local currency of Africa to be placed in the list.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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