The World Bank and IMF have advised developing countries to adopt floating exchange rate regime as a best choice in light of the global trade openness policies. The floating leads to the depreciation of most currencies, which are predominantly overvalued. Accordingly, the depreciation would reduce the export commodities prices which give these countries a comparative advantage to attract the FDI inflow. This would help the governments to address the macroeconomic distortions, the shortage in the domestic financial sources, the continuous raising in the government’s budget burdens and achieve the development sustainability. Although many African countries adopted the floating regime which results in continues depreciation movements in their currencies, the statistics illustrated that their share from the global FDI inflow continuously decreases. This study aims to investigate the interaction effect of the depreciation movements and the export commodities prices on the FDI inflow in the African countries by employing the dynamic LSDVC estimator. Surprisingly, the results demonstrated that the depreciation movements on the FDI inflow when the export commodities prices mediating this relationship does not success to attract the FDI inflow.