Foreign Exchange Reserves

Africa Ranking

billion currency unitsSource: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Sierra Leone	14538.47	4-2023	1	12345.92
2	Democratic Republic of the Congo	8990.28	5-2023	2	9597.05
3	Algeria	5948.3	12-2021	3	5768.3
4 ↑	Zimbabwe	2747.79	6-2023	17	166.42
5 ↓	South Africa	1152.5	9-2023	4	1166.52
6 ↓	Ivory Coast	871.3	11-2022	5	956.5
7 ↓	Morocco	346.16	6-2023	6	361.17
8 ↑	Malawi	324.6	6-2023	10	290.1
9 ↓	Mauritius	293.06	9-2023	8	306.07
10 ↓	Senegal	274	11-2022	7	311.1
11	Mali	268.1	11-2022	11	281.7
12	Benin	256.8	11-2022	12	274.6
13 ↑	Mozambique	205.81	1-2022	14	212.15
14 ↓	Togo	200.5	11-2022	13	213.2
15	Niger	188.1	11-2022	15	200.8
16	Burkina Faso	176.8	11-2022	16	186.3
17 ↓	Burundi	117.59	5-2023	9	304.17
18	Comoros	104.22	12-2022	18	99.73
19	Libya	80.04	12-2022	19	77.53
20 ↑	Cape Verde	69	6-2023	21	62.58
21 ↑	Botswana	60.78	10-2022	23	54.55
22	Guinea-Bissau	54.5	11-2022	22	57.9
23 ↑	Namibia	52.99	6-2023	24	48.5
24 ↓	Ethiopia	48.98	3-2023	20	62.95
25	Nigeria	36.61	12-2022	25	38.46
26	Egypt	34.55	4-2023	26	34.35
27	Gambia	25.58	6-2023	27	27.65
28	Tunisia	23.9	4-2023	28	23.82
29	Seychelles	10.04	9-2023	29	10.08
30	Swaziland	8.21	7-2023	30	9.34
31	Ghana	7.25	6-2022	31	8.87
32	Kenya	7.23	5-2023	32	7.08
33 ↑	Guinea	5.65	8-2023	37	1.85
34 ↓	Tanzania	5.01	3-2023	33	5.18
35 ↓	Uganda	4.07	6-2023	34	3.63
36 ↓	Zambia	2.8	7-2023	35	2.93
37 ↓	Madagascar	2.41	8-2023	36	2.25
38	Mauritania	1.9	6-2022	38	1.68
39	Rwanda	1.73	6-2023	39	1.66
40	Lesotho	0.78	4-2020	40	0.71
41 ↑	Djibouti	0.59	12-2022	42	0.54
42 ↓	Liberia	0.57	4-2023	41	0.6
43	Sao Tome and Principe	0.08	5-2023	43	0.07

Definition of Foreign Exchange Reserves

Foreign exchange reserves consist of foreign currency, deposits denominated in foreign currency, Monetary Gold, Special Drawing Rights (SDRs) and Reserve position in the International Monetary Fund (IMF). Foreign exchange reserves are held by monetary authorities to finance trade imbalances, check the impact of foreign exchange fluctuations and address other issues under the purview of the central bank.