We bring to you the Lowest Currency in the world.
The value of the lowest currency in the world was determined by its exchange rate with the United States dollar.
In most cases, a state’s currency devalues because of the economic downturn inside a country. This causes a balance of payments deficit and the inflation rate to grow.
Lowest Currency in the World
Venezuelan Sovereign Bolívar (182,932 VES/USD)
he main currency of Venezuela since 20 August 2018 has been the bolívar soberano (sovereign bolivar) (sign: Bs.S. or Bs.; plural: bolívares soberanos; ISO 4217 code: VES).
It will replace the bolívar fuerte after a transition period. The primary reason for replacement, at a rate of 1 Bs.S. to 100,000 Bs.F, was hyperinflation.
Iranian Rial (~177,500 IRR/USD)
With most of its labor force in the public sector, Iran has one of the cheapest currencies in the world. Iran is also one of the highest exporters of oil and gas, however, due to uncertainty and unrest in the country, the currency performs poorly.
Vietnamese Dong (23,260 VND/USD)
Asian-pacific nation Vietnam has one of the most devalued currencies in the world. The country is still on its way to migration to a market economy.
Sao Tome And Principe Dobra 1USD=21050.5996 STD
Sao Tome And Principe Dobra is the weakest currency in Africa in 2020. It is noted to be the smallest country in Africa. It is classified as the weakest currency based on the exchange rate to the dollar and its purchasing power.
Read Strongest Currencies in the world
Indonesian Rupiah (14,786 IDR/USD)
Introduced in 1946 by Indonesian nationalists fighting for independence, the currency replaced a version of the Netherlands Indies gulden, which had been introduced during the Japanese occupation in World War II. In its early years, the rupiah was used in conjunction with other currencies, including a new version of the gulden introduced by the Dutch.
Lowest Currency in the World
Uzbek Sum (10,134 UZS/USD)
The soʻm is the currency of Uzbekistan in Central Asia. Since independence, the economy of Uzbekistan continues to exist as a Soviet-style command economy with a slow transformation to the market economy.
Its restrictive trade regime and generally interventionist policies continue to have a negative effect on the economy.
Read Highest Currencies in Africa
Sierra Leone Leon (SLL)
The Leone was introduced on 4 August 1964. It replaced the British West African pound at a rate of 1 pound = 2 leones (i.e., 1 leone = 10 shillings). It is the second weakest currency in Africa valued at 9,740.00 SLL to the USD.
Lowest Currency in the world
Guinean Franc (1USD-9,437.50 GNF)
The first Guinean franc was introduced in 1959 to replace the CFA franc
On March 1, 2019, on the 59th anniversary of the introduction of its national currency, the Central Bank of the Republic of Guinea issued a revised banknote for 10,000 francs and issued a new banknote for 2,000 francs.
Lowest Currency in the World
Ugandan Shilling
The Ugandan Shilling (UX) is the currency used by people in Uganda and the fourth on the list. It currently exchanges at 3,694.15 Ugandan Shilling to $1.
Malagasy Ariary
The ariary is the currency of Madagascar. It is subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating (the other is the Mauritanian ouguiya). It is currently valued at 1USD=3,750.00 MGA
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