Are you a constant traveller or a businessman/woman who as to deal with other currencies apart from your native currency? This post helps you to understand which currencies are the weakest in the world at the moment. They are in no particular order, as the value of each currency is subject to volatile economic policies and bound to change at any time.
- Iranian Rial (IRAN)
The Iranian Rial is one of the most volatile and weakest currencies in the world despite the country’s very rich oil reserve. The country’s economy has been bastardized as a result of insurgencies and corruption. One US Dollar is equal to 41,994 IRR.
- Zimbabwean Doll (Zimbabwe)
The Zimbabwean Dollar is one of the weakest currencies in Africa and globally, majorly as a result of the stringent policies and corruption laden period of Mugabe’s 37-year leadership stint. 100 Trillion Zimbabwe Dollars is equal to 40 US Cents.
- Guinean Franc
Despite being blessed with so much mineral resources like Gold, Diamond and Aluminium, Guinea is still faced with a very high inflation rate, an increase in the poverty rate and unrest as a result of gangsterism.
1 USD is equal to 9198 GNF
- Laotian Kip
The Laotian Kip has suffered from a very low exchange rate for many years. The Laotian Kip has never been able to strengthen itself against the value of the US Dollar since it was created in 1952. 1 USD is equal to 8550 LAK
- Sierra Leonean Leone
Sierra Leone has gone through some of the worst economic and social decadency periods in Africa, coupled with the debilitating effect of the recurring Ebola Virus; the currency has had to be devalued numerous times. One US Dollar is equal to 8446 SLL.
- Uzbekistani Som
Although Uzbekistan has always practised a liberal monetary policy, its currency is still one of the weakest in the world with the Uzbekistani Som trading at One US Dollar to 8100 UZS.
- Indonesian Rupiah
Although Indonesia is an economically stable and developed country in Asia, the Rupiah has a very low exchange rate. Despite all the policies that have been implemented in a bid to strengthen the national currency, all efforts have only led to insignificant improvements. At the moment, One US Dollar is equal to 14237 IDR.
- Cambodian Riel
The Cambodian Riel was introduced in 1995 to replace the Indochinese Piaster and already started out with a very low exchange rate. The Cambodian Riel never gained popularity among the Cambodians who preferred to use foreign currencies instead. Even today, they choose to use the US Dollar for many payments. Hence, the value of the Cambodian Riel continues to devalue by great extents. One US Dollar is Equal to 4016 KHR.
- Ugandan Shilling
The Ugandan Shilling was first issued in 1966 and replaced the East African Shilling, which used to be the official means of payment in Uganda, Kenya, Tanganyika, and Zanzibar. Although it is a very stable currency when compared to the remaining countries, it is still one of the weakest currencies in the world. One US Dollar is equal to 3714 UGX.
- Paraguayan Guarani
Paraguay is the second poorest country in South America. It has been the victim of terrible economic setbacks, disastrous inflation, unruly corruption, low quality of education, and high levels of unemployment. One US Dollar is equal to 5953 PYG.
The above currencies are some of the weakest currencies in the world, therefore, if you’re looking to travel to any of the countries, be warned; you would be playing at the lower end of the currency playfield.