The 10 Weakest Currencies In The World

The 10 Weakest Currencies In The World

Virtually everybody knows Pounds, Euro and Dollar to be the strongest currencies in the world but if you ask most people to tell you the weakest currencies in the world, they cannot be able to give the correct answer to that. And that is why CorrectNG has come up with this informative post on the top 10 lowest currencies in the world for 2019.

Currencies are parts of countries symbols which separate it from other countries of the world. Currencies are very essential and no country can do without it. Imagine a country where only one currency is accepted in the buying and selling of goods and services. However, we are made to understand that some countries currencies do not stand strong in the world’s economy and we will be listing the top 10 lowest currencies in the world.

CorrectNG brings to you the list of the top weakest currencies with the exchange rate in comparison to the U.S dollar. Keep reading.

1. Iranian Rial

Currency Code: IRR

1 USD = 42,105.00 IRR

Weakest Currencies in the world

Weakest Currencies In The World

The Iranian Rial is the currency of Iran and it is the weakest currency in the world. 36384.00 Iranian Rial is exchanged with 1 US dollar. This is an irony considering the fact that Iran is blessed with oil. But then, the Iran-Iraq war, the Israeli attack, as well as the sanctions (a very important one is not being able to export oil) from the world superpower, are the reason for making the Iranian currency weak.

2. Vietnamese Dong

Currency Code: VND

1 USD = 23,199.00 VND

Weakest Currencies In The World

Vietnamese Dong

The Vietnamese Dong is the third lowest currency in the world; it is the currency of Vietnam, a socialist country in South East Asia. 22701 Vietnamese Dong is exchanged with one dollar. Vietnam is still on its hard path from the centralized economy type to the market one and consequently, it currency almost devalued today. However, experts insist that the Vietnamese Government is going the right way and soon it can catch up with its closer Asian neighbours.

3. Sao Tome and Principe Dobra

Currency Code: STD

1 USD = 21,050.5996 STD

Sao Tome and Principe Dobra

Sao Tome and Principe Dobra

The Sao Tome and Principe Dobra is the official currency used in Sao Tome and Principe, Island countries in West Africa. These countries are into the exportation of Coffee, Cocoa, and Coconut. The profit generated from these is not enough to support the economy at the appropriate level. The currency is exchanged 20502.00 Sao Tome and Principe Dobra to 1 USD. There’s hope for this currency to increase in strength as oil had been discovered in Sao Tome.

4. Indonesian Rupiah

Currency Code: IDR

1 USD = 14,130 IDR

Indonesian Rupiah

Indonesian Rupiah

Indonesia is an economically stable and developed country in South East Asia, though the currency has a low exchange rate, despite all effort to make it strong by the economic team of the country. A USD is worth 14,130 Indonesian Rupiah.

5. Guinean Franc

Currency Code: GNF

1 USD = 9,200.00 GNF

Guinean Franc

Guinean Franc

The Guinean Franc is the currency of Guinea, a country in Africa. Considering the natural resources of the country such as gold, adamant and aluminium, the country’s currency is supposed to be of high value but due to the high inflation rate as well as the progressing poverty and gangsters prosperity, the currency is being devalued. 9200 Guinean Francs are exchanged for 1 USD.

6. Sierra Leonean Leone

Currency Code: SLL

1 USD = 8,600.00 SLL

Sierra Leonean Leone

Sierra Leonean Leone

Sierra Leone is a very poor African country which handled out many serious tests and this caused the local currency to devalue. The country has also experience war and also the outbreak of the Ebola Virus. 7720.00 Sierra Leonean Leone is exchanged with 1 USD.

7. Lao Kip Or Laotian Kip

Currency Code: LAK

1 USD = 8,555.00 LAK

Laotian Kip

Lao Kip was initially introduced with a very low exchange rate. 8,555 Lao kip is exchanged with 1 USD. In recent years, this currency is gradually increasing in value.

8. Uzbekistan Sum

Currency Code: UZS

1 USD = 8,434.00 UZS

Uzbekistan Sum

Uzbekistan, an Asian country with a currency code of UZS. 1 USD is exchanged with 8,434.00 UZS.

9. Paraguayan Guarani

Currency Code: PYG

1 USD = 6,019.25 PYG

Paraguayan Guarani

Paraguay is the second poorest country in South America. It is characterized by what can be said to be a disastrous economic downturn. A high rate of inflation, corruption, low education quality, an enormous number of poor people, high unemployment rate, etc are the problems bedevilling the country. Paraguay exports cotton and soybean but this is hardly enough to cover expenses. 5624.10 Paraguayan Guaraní is equal to 1 USD.

10. Cambodian Riel

Currency Code: KHR

1 USD = 4016.00 KHR

The Cambodian Riel is the currency of Monarch State in South East Asia. Currently tenth on our list of top 10 lowest currency in the world, It was implemented in 1995 to change Indochinese Piaster. Even when it was introduced, Riel had a low exchange rate and was not popular among locals who had decided to use foreign currencies (USD) for payment. This had led to the currency being devalued. 4030 Cambodian Riel is exchanged for 1 USD.

That is all for the list of top 10 weakest currencies in the world. Meanwhile, the value of world currencies is greatly determined by factors affecting world trade and exchange activities. In real sense, factors such as inflation, recession, etc. are no exception.

 

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