Certain currencies are so weak to the point of being considered worthless and inconsequential in the global market. The value of a currency reflects the strength and stability of the country’s legal tender. Currencies of very successful countries tend to increase in value. High currency value implies that inflation processes in the country are under control. The popularity of a currency does not guarantee its high value. The economic dominance of a nation also does not warrant its currency to be the strongest.
A nation that possesses the best currency in the world is expected to have a robust economic environment. These conditions, among many, strengthen its currency. Over time, the world has accepted certain currency denominations and prefers using them for transactions. Every country’s central bank does its best to stabilize the inflationary pressures of its currency. The institution uses fiscal and monetary policies to make this work.
However, demand and supply forces always outweigh such policies to put a specific value for the currency associated. A weak currency is a currency that is decreasing in value in comparison to other currencies. Poor government policies, political instability, increased external debt, systemic corruption, prolonged internal conflicts, and overall economic degradation are the hallmarks of the countries with the weakest currencies.
Here are the top 20 lowest currencies in the world.
|Rank||Currency||Compared to USD|
|1.||Iranian Rial (IRR)||1 USD = 42,105 IRR|
|2.||Vietnamese Dong (VND)||1 USD = 22,926 VND|
|3.||Indonesian Rupiah (IDR)||1 USD = 14,387 IDR|
|4.||Uzbekistani Som (UZS)||1 USD = 10,637 UZS|
|5.||Sierra Leonean Leone (SLL)||1 USD = 10,250 SLL|
|6.||Guinean Franc (GNF)||1 USD = 9,755 GNF|
|7.||Laotian Kip (LAK)||1 USD = 9,576 LAK|
|8.||Paraguayan Guarani (PYG)||1 USD = 6,932 PYG|
|9.||Cambodian Riel (KHR)||1 USD = 4,084 KHR|
|10.||Colombian Peso (COP)||1 USD = 3,959 COP|
|11.||Malagasy Ariary (MGA)||1 USD = 3,904 MGA|
|12.||Ugandan Shilling (UGX)||1 USD = 3,534 UGX|
|13.||Tanzanian Shilling (TZS)||1 USD = 2,318 TZS|
|14.||Congolese Franc (CDF)||1 USD = 2,003 CDF|
|15.||Burundian Franc (BIF)||1 USD = 1,982 BIF|
|16.||Myanmar Kyat (MMK)||1 USD = 1,645 MMK|
|17.||Lebanese Pound (LBP)||1 USD = 1,511 LBP|
|18.||Iraqi Dinar (IQD)||1 USD = 1,458 IQD|
|19.||South Korean Won (KRW)||1 USD = 1,145 KRW|
|20.||Rwandan Franc (FRW)||1 USD = 1,007 FRW|