African currencies lost value after rising tensions involving the United States, Israel, and Iran affected global financial markets.
According to a new report by the United Nations Conference on Trade and Development (UNCTAD), investors pulled money out of emerging and frontier markets during the period of uncertainty, causing currencies across Africa to weaken by 3.2 percent.
The report explained that between February 27 and March 13, 2026, conflict related concerns disrupted global capital flows, reduced investor confidence, and increased market volatility in developing economies.
Before the tensions escalated, many emerging and frontier market currencies had recorded gains. However, those gains disappeared as investors moved their money into safer assets.
What the report showed
African currencies fell by 3.2 percent after earlier gaining 8.7 percent.
Emerging market economies moved from a 5.9 percent increase to a 1.3 percent decline.
Frontier markets dropped from 3.3 percent growth to 0.7 percent depreciation.
Countries
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