Top 10 Weakest Currencies in The World
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While some currencies are considered strong and stable, a few unlucky ones struggle to maintain their value. In this post, we will explore the ten weakest currencies in the world.
| Rank | Currency | Exchange Rate |
|---|---|---|
| 1 | Iranian Rial | 1 Rial = US$0.000024 |
| 2 | Vietnamese dong | 1 dong = US$0.000042 |
| 3 | Kip Laosiano | 1 Kip = US$$0.000051 |
| 4 | Leone de Sierra Leona | 1 leone = US$0.000051 |
| 5 | Indonesian Rupia | 1 rupiah = US$0.000066 |
| 6 | Lebanese Pound | 1 pound or lira = US$0.000067 |
| 7 | Uzbekistan Sum | 1 sum = US$0.000083 |
| 8 | Guinean franc | 1 franc= US$0.00012 |
| 9 | Paraguayan Guarani | 1 guaraní = US$0.00014 |
| 10 | Ugandan Shilling | 1 shilling = US$0.00027 |
Related Article: Top 10 Strongest Currencies in The World
Worlds Biggest Losers
Let’s look into the three weakest currencies in the world:
1. Iranian Rial (IRR)
The Iranian Rial holds the title of the weakest currency in the world, with one US dollar equivalent to approximately 42,275 Iranian rials. The currency was introduced in the late 18th century and has since been linked to the British pound and later the US dollar. Though it is now floating, it has remained stable at around 42,000 rials per US dollar in recent years.
Iran, located in the Persian Gulf between Iraq and Afghanistan, is a leading global exporter of oil and natural gas. However, economic sanctions, political unrest, and rising inflation have put pressure on the Iranian currency.
2. Vietnamese Dong (VND)
The Vietnamese Dong is the second weakest currency globally, with one US dollar equivalent to approximately 24,085 Vietnamese dong. The currency entered circulation in 1978 and has a progressive peg to the US dollar, allowing it to fluctuate gradually over time.
Vietnam, located in the South China Sea, shares borders with China, Laos, and Cambodia. Services represent the largest proportion of its GDP, followed by industries such as electronics, energy, and textiles. However, restrictions on foreign investment, a recent slowdown in exports, and higher interest rates in the United States have weakened the Vietnamese Dong.
3. Laotian Kip (LAK)
The Laotian Kip holds the position of the third weakest currency globally, with one US dollar equivalent to approximately 19,647 Laotian Kip. The Kip was introduced in the 1950s and currently floats freely.
Laos, a landlocked country located between Vietnam, Thailand, Cambodia, and China, heavily relies on exports such as copper, gold, and timber. The country has been affected by slowing economic growth, high external debt, and high inflation, putting pressure on its currency.
