Top 10 Lowest Currency in the World and Weakest in 2020
When the strongest and highest currency of the world is being discussed, we are quick to mention the British pounds sterling or the US dollar, but unfortunately the Kuwait Dinar stands above them.
Before we head on to know the countries with the weakest and least valued currency, you can take a glance on the highest and strongest in 2020 as they try to maintain stable and good economic policies implementations.
Top 10 Lowest Currency in the World
The question now is Which country has the Lowest Currency in the World ?
The Iranian Rial is the least valued currency in the world against the United States dollar. To make the calculation easier, the people of Iran uses the word, Toman. The equivalent of 1 Toman is 10 Rials just to show how cheap the currency is.
Though it may not be easy to ascertain the lowest currency because of a regular inflationary, deflationary economic trends, bad economic policies, corruption, and public unrest with these unstable 3rd world countries.
Even with the current coronavirus pandemic that has placed the world economy activities on a break, so much expected to happen when lockdown is eased off.
However, let see the cheapest valued currencies against the US dollar. Meanwhile, the exchanged rates of the least valued currencies have been calculated as at 19 May 2020.
Top 10 Lowest Currency in the World list 2020
Iranian Rial
Currency code is IRR.
Iran has the cheapest currency in the world. They have been through a lot as a nation which has affected their economic and social life.
Despite been a member of OPEC, sanctioned placed on Iran by world powers has hampered their sales of petroleum to other countries.
The sanctioned over time has led to slow economic development and budget deficit which has correlation in geometric inflationary trend.
While the Iranian Government try to boast nation states, Iranian Rial is lowest currency against the USD.
Venezuelan Sovereign Bolívar
Currency new code is VES
Venezuelan Sovereign Bolívar is one the weakest currency in the world. The country Venezuela is a Spanish colony located in Latin America.
Over the years, they have suffered from hyperinflation which has placed their economy in a real helpless situation.
Venezuelan Sovereign Bolívar is the second least valued currency as at today.
Vietnamese Dong
Vietnam Currency code is VND and is the least valued currency despite being the highest denomination not in the world. Vietnam is located in Southeast Asia.
Though it is widely believing they are going through restructuring as they are liberating from the old centralized economy pattern to a market economy.
Meanwhile, Vietnamese Dong is 3rd weakest currency in the world as they hope to become Asia power soon.
Indonesian Rupiah
Currency code is IDR.
Indonesia currency is known as Indonesian Rupiah. The country is located between the Indian and Pacific oceans with the capital as Jakarta.
They have one of the most developed and stable economy in Asia, but their currency has a low exchange rate against the USD that has made it one of the weakest to count on.
Uzbek Sum
Currency code is UZS
Uzbek Sum is used by Uzbekistan located in central Asia. The country is going through an economic reform as the government is trying to stable it new found market economy as they moved out from centralized system.
Uzbek Sum is the 5th lowest valued currency against the USD in the world.
Sierra Leonean Leone
Currency code is SLL.
Sierra Leonean Leone is among the weakest currency in Africa as it exchanges rate stands so poor against the USD. The country Sierra Leone is situated in West Africa.
Their economy is suffering from high inflation, shortage of food, and was recently hit by the Ebola outbreak.
Sierra Leonean Leone is the 6th lowest currency in the world while Sierra Leone is one of the poorest country in the world.
Guinean Franc
Currency code is GNF
Guinea is a country located in Western Africa famously known for gold and diamonds but suffers from food shortage, high inflation, and corruption.
The Guinean Franc is the 7th least valued currency pars the United States dollar.
Lao or Laotian Kip
currency code is LAK
According to financial records, the Laotian Kip has been in its original value ever since it was first issued in 1952. Yet the currency has not appreciated against the USD and still remains one of the cheapest currencies.
Paraguayan Guarani
Currency code is PYG.
Paraguay has been suffering from budget deficit as their import is far more than their export. Unemployment is high and one of the poorest counties in South America.
Meanwhile, Paraguayan Guarani has a low exchange rate against the USD and one of the cheapest currency.
Cambodian Riel
Currency Code is KHR
Cambodian Riel is a monarchical currency in Southeast Asia sate, Cambodia. The Cambodian Riel was issued in 1995 as a replacement for the Indochinese Piaster.
However, the currency has suffered most and devalued because of the preference of the USD by the Cambodians.
Cambodian Riel snapped up the 10th spot on the lowest currency list in the world 2020.
