Trading Life 20-10-2022 10:10 19 Views

The 10 Weakest Currencies in The World

What are the weakest currencies in the world? We looked at a whole range of currencies and compared their exchange rate with the US Dollar (USD) to see which were the weakest. (At time of writing in October 2022).

#1: Iranian Rial (IRR)

The weakest currency by far is the Iranian Rial (IRR).

1 US Dollar buys you 42,350 Iranian Rial.

The Iranian government has agreed to redenominate the Rial, deleting 4 zeros and bringing in the new Rial, but this has not yet taken place. Once it does, we can expect to see the Iranian Rial leave its top spot as weakest currency in the world.

#2: Vietnamese Dong (VND)

1 US Dollar buys you 24,540 Vietnamese Dong.

The Vietnamese Dong has been the official currency of Vietnam since its unification in 1978.

#3: Laotian Kip (LAK)

1 US Dollar buys you 17,329 Laotian Kip.

The Laotian Kip became the official currency of Laos in 1952, after it declared independece from France.

#4: Sierra Leonean Leone (SLL)

1 US Dollar buys you 16,854 Sierra Leonean Leone.

The Leone became the official currency of Sierra Leone in 1964. The British West African Pound was replaced at a rate of 2:1 at that time.

#5: Indonesian Rupiah (IDR)

1 US Dollar buys you 15,556 Indonesian Rupiah.

The Indonesian Rupiah is named after the currency of India, but many Indonesians call their currency ‘perak’, which means ‘silver’ in Indonesian.

#6: Uzbekistani Som (UZS)

1 US Dollar buys you 11,176 Uzbekistani Som.

The Uzbekistani Som is also known as the Sum, the Soum and the Soom.

#7: Guinean Franc (GNF)

1 US Dollar buys you 8,641 Guinean Franc.

The Guinean Franc replaced the CFA (Financial Community of Africa) Franc in 1959.

#8: Paraguayan Guarani (PYG)

1 US Dollar buys you 7,199 Paraguayan Guarani.

The Guarani is the primary native indigenous and ethnic group in Paraguay, and it is this the currency is named after.

#9: Columbian Peso (COP)

1 US Dollar buys you 4,760 Columbian Peso.

A newcomer to the list of 10 weakest currencies, the Columbian Peso started devaluing rapidly in 2022 and reached a new low in October 2022.

#10: Malagasy Ariary (MGA)

1 US Dollar buys you 4,272 Malagasy Ariary.

The Malagasy Ariary is the official currency of Madagascar. The Malagasy Ariary is one of only two currencies in the world not divided into decimal units.

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