The Ten Weakest Currencies in the World
The value of a currency depends on supply and demand, while some are pegged, meaning the currency is valued at an agreed rate. The foreign exchange rate is an indicator of a country's economic wealth.
The ten weakest currencies in the world today are as follows.
Number ten is the Iraqi Dinar. Inflation and political instability are the given reasons.
Number nine is the Ugandan Shilling (USH)
The Ugandan Shilling reasons for a low currency rate against the US dollar include policies.
Number eight is the Paraguayan Guarani (PYG)
Paraguayan Guarani has been affected by high inflation, poverty, unemployment and corruption. Paraguay is a landlocked country in South America.
Number seven of the weakest currencies in the world is the Guinean Franc (GNF)
Guinean Franc is the official currency of Guinea. Political instability and corruption are the reasons given for the low rate.
Number six is Uzbekistani Som (UZS)
One US dollar is equivalent to 12,501 Uzbekistani Som. Continued efforts are underway to improve the economy in Uzbekistani.
Number five is the Indonesian Rupiah (IDR)
The currency value can be traced to decreasing foreign exchange reserves and Indonesia's dependence on the export market.
Number four is the Laotian Kip (LaK)
Laotian Kip is the official currency of Laos People's Democratic Republic. This currency has never been devalued since 1952. Laos is the only landlocked country in Southeast Asia.
Number three is Sierra Leonean Leone (SLL)
The low value of Leone's currency is due to corruption, financial scandals, and poverty. Sierra Leone is located on the western coast of Africa.
This channel observes the Vietnam Dong (VND), number two is a currency. The reason for such a low rate is the transition from a centralized economy to a market-based one.
Number one on the weakest currencies in the world list is the Iranian Rial (IRR)
The Iranian Rial has been affected by several factors, including the nuclear program and political unrest, not to mention the intense sanctions the country is experiencing.
An increase in value against the US dollar for any of the ten currencies could and would result in a higher return on investment.
