List of Lowest Currencies in the World
A currency’s value demonstrates the strength and stability of the nation’s economy. This is why currencies of countries with weak economies and failed states attract low value (Lee, 2023).
In many cases, a low currency value demonstrates a failure in inflation regulation procedures. while there are many are powerful and stable international currencies; there are currencies that are weak in value. We explore the 15 lowest and weakest currencies in the world in 2023 below:
15. Congolese Franc
The Congolese Franc currency symbol is FC. It is one of the poorest nations on the globe where it’s per capita revenue is as low as 785,000 US dollars yearly. Congolese Franc occupies the last position among the top fifteen lowest currencies in the globe, since one United States dollar is traded at 1696 CDF.
1 USD = 1696 Congolese Franc
14. Burundian Franc
Burundian Franc symbol is BIF. Burundi is a landlocked state. It is one of the underprivileged nations in the world. Burundian per capita income is very low as seven hundred and seventy-one United States dollars. Burundian Franc is at position fourteen among the lowest currencies in the world since one United States dollars can be traded with 1880 BIF.
1 USD = 1,880 BIF
13. Tanzanian Shilling
Tanzanian shilling currency symbol is TZS. Tanzania is a sovereign nation in East Africa. It is one of the underprivileged nations. The Tanzanian shilling is at the eleventh position among the fifteen lowest currencies in the world since one United States dollar is traded at 2000 TZS.
1 USD = 2,000 TZS
12. Colombian Peso
The Colombian Peso currency symbol is COP. This is the formal currency of Colombia. The Colombian Peso lost value of more than 100 percent in the presiding five years. The per capita revenue of Colombia is 14500 US dollars. The Colombian Peso is at position twelve among the lowest currencies in the world (Dabrowski, 2016). Bank of the Republic of Colombia provides the highest coinage at 30,000 COP which is traded at 2.91 United States dollars.
1 USD = 3,887 COP
11. Ugandan Shilling
Ugandan Shilling currency symbol is UGX. This is the formal currency of the Republic of Uganda. Uganda’s economy is majorly centered on the exportation of coffee as well as tea. It is one of the underprivileged nations in the world. Uganda’s per capita income is as low as 2400 yearly. The Ugandan shilling is at position eleven among the top fifteen lowest currencies in the world. The bank of Uganda provides the highest coinage currency that is 50,000 Ugandan shillings which is equal to 13.63 United States dollars.
1 USD = 3,793.5 UGX
10. Malagasy Ariary
Malagasy Ariary currency symbol is MGA. This Malagasy’s formal currency was established in 2005. Malagasy Ariary is in the tenth position among the lowest currencies in the world. One United States dollar is traded for 3720 MGA. The highest coinage Banque Centrale de Madagascar provides is 10,000 MGA which is equal to 2.69 United States dollars.
1 USD = 3,896.50 MGA
9. Cambodian Riel
Cambodian Riel currency symbol is KHR. This is the formal currency of Cambodia. Corruption destroyed essential organizations for example the courts and the police. The per capita revenue of Cambodia is approximately 4,000 United States dollars. Cambodian Riel occupies position nine among the top fifteen lowest currencies in the world.
1 USD = 4,091 KHR
8. Paraguayan Guarani
The Paraguayan currency symbol is PYG. This is the formal currency of the Republic of Paraguay. Inflation, unrestricted black market, together with the legacy of corruption plundered Paraguay of its resources. Paraguay is at position eight among the lowest currencies in the globe.
1 USD = 6,995.07 PYG
7. Laotian Kip
Laotian Kip currency symbol is LAK. This is the official currency of Laos since 1952. Inflation as well as the economic crisis that happened in Asia in 1997 made Las economy decline (Boonman, 2019). Laotian Kip occupies the seventh position among the fifteen lowest, weakest, and inexpensive and poorest currencies internationally. The Bank of the Lao P.D.R offers the highest coinage currency at one 100,000 LAK which is equal to 11.28 United States dollars.
1 USD = 9,230 LAK
6. Guinea Franc
Guinea Franc symbol is GNF. Guinea received independence from France in the year 1958 and from that time the state has experienced political insecurity together with corruption. Guinean Franc has decreased in value at approximately thirty percent in the last five preceding years. Guinea Franc is at position six among the top fifteen lowermost, weakest, inexpensive and poorest currencies in the globe.
1 USD = 9,735 GNF
5. Sierra Leonean Leone
Sierra Leonean Leone’s currency symbol is SLL. This is the official currency of Serra Leone. The long civil conflict enhances the decline of the country’s economy. Nevertheless the nation’s exports diamonds to the whole world, it remains to be one of the poorest states in the globe where per capita revenue is weak as 1500 United States dollars yearly. Sierra Leone is at position five among the top fifteen lowest currencies in the world because one United States dollar is traded with nine thousand, seven hundred and twenty-five SLL. The Bank of Sierra Leone offers the highest coinage at 10,000 Leone which is equivalent to 1.3 United States dollars.
1 USD = 9,785 SLL
4. Uzbekistani Som
Uzbekistani Som symbol is UZS. This is the official currency of Uzbekistan. The Uzbekistan Som lost approximately 207 percent of its worth in the trade rate in the preceding five years. The per capita revenue for Uzbekistan is around 7000 United States dollars. Uzbekistani Som occupies the fourth position among the fifteen lowest currencies in the globe as from February 2020 because one US dollar can be traded with 9486 UZS. The highest penny provided by Central bank of the Republic of Uzbekistan is fifty thousand UZS which is equivalent to 5.27 United States dollars.
1 USD = 10,300 UZS
3. Indonesian Rupiah
Indonesian currency symbol is IDR, This is the legal currency in Indonesia. Indonesia has many Muslim citizens with a per capita income of 12,000 US dollars yearly. This is better than the states on the list (Boonman, 2019). Indonesia Rupiah is in the third position among the fifteen lowest currencies internationally as from February 2020 since one US dollar can be traded using 14,000 Rupiah. This is the highest penny which can be traded with 7.1 one US dollar.
1 USD = 14,938.20 IDR
2. Vietnamese Dong
The Vietnamese Dong occupies the second position of the lowest currencies in the world. Its symbol is VND. The Vietnam War was an achievement for the superpowers but destruction to Vietnam. One US dollar can be traded for twenty-three thousand, one hundred, and ninety-two VND. The State Bank of Vietnam issues the highest coinage, which is 500,000 Dongs, similar to 21.56 US dollars. A proper breakfast is 30,000 VND on average when changed this price is less than two dollars. Two dollars cannot purchase Muffin in the United States.
1 USD = 23,197.24 VND
1. Iranian Riyal
Iranian Riyal is the weakest currency in the globe. Their currency coded is IRR. Iran’s legal currency is the Iranian Riyal. The sanctions placed on Iran destroyed the economic environment. The sanctions are the main causes of the decline of Iran’s currency. Iran’s legal currency is the Iranian Riyal. The sanctions placed on Iran destroyed the economic environment. The Iranian Riyal has lost approximately a hundred percent of its worth in the trade rate in the presiding five years. Iranian Riyal is the lowermost, weakest, inexpensive and meager currency in the globe as of February 2020. The highest coinage currency is equal to 2.38 US dollars.
1 USD = 42, 105 IRR
