What currency is used in Africa?

Their relative stability is guaranteed by means of the fixed exchange rate, currently both are pegged to the Euro. The only local currency ranked among the most-traded in the international forex market, is the South African rand, which is placed at the end of the top 20. All currencies of Africa by countries and territories.

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.

Which African countries are planning to introduce a single currency?

Most of the African regions such as West Africa is planning to introduce West African Monetary zone that comprises of the Anglophone countries to have a common currency. In the same way, the member countries of the East African community are looking forward to introducing the single currency i.e. the East African Shilling.