The list of the weakest currencies in the world is a particularly unpleasant one; by default it carries tales of economic woes, and poverty which are caused by poor planning, myopic decision making, and escalating corruption.

Countries that fall under this category often have weak judicial systems, poor social integration, and sometimes they are faced with the outbreak of violence. These types of situations are not ideal for investments which drive economic growth.

Without the economic growth, the opposite usually takes place; the countries find themselves grappling with poverty, and with the loss of value of their currencies.

Top 100 Lowest Currencies In The World

1. Iranian Rial (IRR)

Exchange Rate: 1USD=42,070IRR

The Iranian Rial is officially the lowest currency in the world. Interestingly, this is not a backward country; it is just one that has found itself the victim of a political and cultural identity crisis. The trouble started in 1979, with the Islamic Revolution.

That violent movement saw the forced implementation of strict Islamic laws, and the removal of former liberties.

The result was a massive capital flight; people converted their Rial to other currencies en-masse as they sought to flee. This led to a sharp decline in the value of the Iranian Rial; a thing which the currency never recovered from.

To make matters worse, people fled with their businesses, their ideas, and their knowledge. Iran basically survives on oil; and with its political tension with the US, and the resulting embargo on its oil, the economy has suffered greatly.

2. Vietnamese Dong (VND)

Exchange Rate: 1USD=24,425VND

The Vietnamese Dong (VND) is another currency that has found itself at the bottom of the financial pyramid. Its power has been deflated by a series of circumstances which have led to it being one of the most undesirable monies in the world.

Vietnam fought a costly war against the United States, and while that war has since ended, the impacts are still persistent. Beyond the ideological issues which fueled the violence, the country saw its infrastructure completely destroyed.

Agriculture plays a big role in the economy today; the country is one of the biggest producers of cashew nuts, rice, and coffee. However, inflation is a major problem in the country; and the currency is not freely exchangeable.

3. Sierra Leonean Leone (SLL)

Exchange Rate: 1USD=20,969SLL

The Sierra Leonean Leone (SLL) is the currency of Sierra Leone; a country in West Africa. This country was reduced to ashes by a bloody war in the 1990s. However, the war alone cannot be pointed as the reason for the collapse of the currency and economy- Sierra Leone had been on the decline for several years before that.

The turmoil of politics seems to have affected this country particularly badly; the people have never fully been able to find unity which is a vital ingredient for peace, which is a vital ingredient for investments and economic growth.

The country struggles with all aspects of its social existence; the vulnerability of its healthcare systems was proven by the Ebola Epidemic of 2014-16. The country needs foreign assistance in many ways.

4. Laotian Kip (LAK)

Exchange Rate: 1USD=20,862LAK

The Laotian Kip is the currency of Laos; a country that is very close to Vietnam with which it shares similar history and culture. The Laotian Kip has been in use since 1955 when it replaced the French Indochinese Piastre.

This currency is a reflection of the Laotian Economy; and Laos is a socialist state. Despite being a member of several trade pacts, Laos has not been able to position itself in for economic advantage.

Fortunately, it has very good relations with its’ nearest neighbors, but most of them are also under varying degrees of economic pressure. Furthermore, Laos faces the continued challenge of unemployment; about 80% of the population is engaged in subsistence agriculture, without any appreciable income or savings.

5. Indonesian Rupiah (IDR)

Exchange Rate: 1USD=15,573IDR

The Indonesian Rupiah is the currency of Indonesia; a country in Asia. This currency was introduced in 1946; at a time when the country was fighting for independence from the Dutch. The Indonesian Rupiah finds itself listed among the weakest currencies in the world due to a long standing spate of depreciation.

Recent events that have seen the currency go down in value include the Asian financial crisis of 1997, and then the Great Recession of 2007-2008.

It seems that the country has not been able to make the best use of its location in Southeast Asia to form sustainable trade agreements with its neighbors. The country has a large population, and that gives it plenty of potential for agriculture.

6. Uzbekistani Som (UZS)

Exchange Rate: 1USD=12,940UZS

The Uzbekistani Som is one of the famously weak currencies of the world; it is also one of the newest currencies in the world because it was introduced in 1992. Uzbekistan was a constituent state of the Soviet Union which broke up in 1991.

Uzbekistan has not been an easy place to do business; the country is beset by many problems ranging from corruption to infrastructure, added to the fact that it is completely landlocked. Inflation has been an ongoing problem; it seemed to be brought under control in the late 90s, but it now seems like it has spiraled out of control again.

Without anything to drive demand for the Uzbekistani Som, it looks as though the currency may continue to suffer for some time to come.

7. Guinean Francs

Exchange Rate: 1USD=8,579GNF

Guinean Francs are used for commerce in Guinea; a country in coastal West Africa. Guinea has a very interesting history; it has sprang several empires, and been assimilated by several empires as well, the latest one being the French.

The French apparently did not structure the country well enough; the country has broken down several times; political unrest destabilizing anything that has been built, and eroding any progress that has been made.

The Guinean Franc is one of the worst currencies in the world; and that is a direct result of the economy being in such a sorry state. Mining of bauxite, gold and uranium seems to benefit only the foreign countries whose companies direct these activities; it contributes little by way of jobs.

8. Guinea-Bissau

Exchange Rate: 1USD=8,595GNF

Guinea-Bissau is a coastal country in West Africa; it is a Portuguese speaking country whose territories include land on the coast, as well as several small islands. The people of the country can therefore be considered maritime people, and they number some 2 million.

Those 2 million people live in what can be defined as dire poverty; long periods of political instability have ensured that there is no appreciable growth. The fishing industry provides employment but most fishermen only have small boats, and can only catch very little fish.

There is very little investment in the country; and large sections of the economy have no employment.

9. Paraguayan Guarani (PYG)

Exchange Rate: 1USD=7,271PYG

The Paraguayan Guarani (PYG) is the currency of Paraguay; a country in south America with a population of 6.2 million people, most of who live in poverty. The country is landlocked, and blessed with arable land, but that land is the sole purview of the rich and powerful.

The economy of the country is heavily dependent on agriculture. Despite reports of economic growth, the country continues to struggle with poverty, which has now mired around 28% of the population.

Agriculture itself has brought woes to the people; pesticides are heavily used in the farms, and they poison the land, causing serious health problems for the people.

10. Burundian Franc (BIF)

Exchange Rate: 1USD=2,860BIF

The Burundian Franc is the currency of Burundi; a country in east Africa. Burundi is landlocked, but located within the great lakes region which means it is blessed with abundant land and water resources. The country also has a population of 13 million.

Burundi has not converted these blessings into wealth; poverty remains a huge challenge for the country, affecting 80% of the population or more.

There is not enough to bring in foreign exchange, and to bring foreign demand for the country’s currency. Without said demand, it is no surprise that the Burundian Franc is one of the worst currencies in the world.

11. Congolese Franc (CDF)

Exchange Rate: 1USD=2,750CDF

The Congolese Franc is the currency of the Democratic Republic of Congo, a country in central Africa. Congo occupies an area of 2,345,409 km2, making it the second largest country in Africa. With a population of over 110 million, the nation is also blessed with abundant human resources.

Those resources have not been put to use; the country suffers from extreme poverty. In fact, the UN still sends food aid to DR Congo as many families depend on it to survive. People depend on food aid because they are unemployed, and even those who are employed soon find that their earnings cannot suffice for food.

The country’s currency is just as bleak as its economy; however, there is enough land if an efficient agricultural mechanism can be built.

12. São Tomé and Príncipe Dobra (STN)

Exchange Rate: 1USD=22,281STN

The São Tomé and Príncipe Dobra is the currency of São Tomé and Príncipe; an island country in the Gulf of Guinea; just off the western coast of central Africa. The country is a Portuguese speaking country, and it is the second smallest country in Africa.

The country’s Dobra is one of the lowest currencies in the world; and that may be explained by its isolation, and also by its lack of industrialization. The country is quite dependent on agriculture, and yet it imports most of its food.

Sao Tome is taking steps to improve its situation, and to build infrastructure which will bring in foreign exchange. This should immediately improve the situation of its currency.

13. Malagasy Ariary (MGA)

Exchange Rate: 1USD= 4500MGA

The Malagasy Ariary is what they spend in Madagascar; a country off the coast of Southeast Africa. The country has a population of 28 million people; and a very interesting culture and history. Madagascar is one of the biggest islands in the world, with amazing biodiversity.

The country is beset by poverty; the overwhelming majority of people on the island are poor, with high numbers facing malnutrition. The country is desperate to bring in fresh capital, and tourism seems like just the thing to do it.

The tourism industry is being developed at a fast pace; it is hoped that this will soon bring the desired results.

14. Cambodian Riel (KHR)

Exchange Rate: 1USD=4,081KHR

The Cambodian Riel is the currency of Cambodia; a country in Southeast Asia. This is a kingdom so it is structurally different from most of the other countries in the region. The country has a population of around 16.7 million, and its land includes good coastline.

Nevertheless, in terms of economics and currency; Cambodia is very similar to the other countries in the region. This is a least developed country; and poverty is endemic in the land.

Cambodia is struggling to find ways to bring in foreign exchange which will relieve the selling pressure on its currency. There is plenty of potential in agriculture and tourism, but that potential will take some time to be achieved.

15. Ugandan Shilling (USH)

Exchange Rate: 1USD=3,870USH

The Ugandan Shilling is the currency of Uganda; a small country in east Africa. Uganda is landlocked, but blessed with arable land, and a history to be proud of. Uganda has a population of 47 million people, and a land area of 241,038 km2.

Uganda’s problems started in the 80’s when a despotic dictator by the name of Idi Amin came to power. His lack of knowledge of economics, and ill-conceived political moves set the wheel in motion for what resulted in a bloody war, which brought another dictator to power.

With such a bad history of socio-political tension, Uganda is not the most attractive place for investors, and it remains a least developed country with endemic poverty. It is no surprise that the currency is among the least respected in the world.

16. Nigerian Naira

Exchange Rate: 1USD=1500NGN

The Nigerian Naira is the money of the Federal Republic of Nigeria; a country in West Africa. Often called the giant of Africa; this is the largest black country in the world with over 200 million inhabitants.

Unfortunately, the majority of the inhabitants of this country are confronted by poverty; the vast majority of them live on less than $1 a day. The major reason why this is so has been corruption which has bedeviled the country. Successive governments have found it easier to embezzle funds than to invest in infrastructure.

The country is heavily indebted, and insecurity is a major threat to her unity. All these have combined to make Nigeria’s currency and economy in the bad state that it is today.

17. Iraqi Dinar (IQD)

Exchange Rate: 1USD=1,310IQD

The Iraqi Dinar is the currency of Iraqi; a country in West Asia. This country has great historical significance; and it is important that Iraqi thrives culturally, because that can help bring stability to the region. The population of this country is 46 million.

Iraqi has been very flammable; a series of wars and other forms of unrest have set the country back in terms of infrastructure. The country also grapples with the problem of poverty; oil sales provides income to the government, but very little employment.

The country is heavily indebted; at one time it owed the Paris Club to the tune of $120 billion. Such heavy debt has been known to have terrible effects on currency strength of countries, and to cause rapid inflation.

18. Rwandan Franc

Exchange Rate: 1USD=1,273RWF

The Rwandan Franc is the monetary unit of Rwanda, a country in central Africa, although culturally similar to the countries of east Africa. Rwanda is a small country with a population of around 13 million people.

Rwanda is infamous for its genocide; and before that the country has suffered a series of political upheavals which have destroyed infrastructure and wiped off human capital.

As a result the country continues to suffer economically; there is not enough infrastructure on ground to promote economic growth, and there is no guarantee of peace in the long term.

19. Angolan Kwanza (AOA)

Exchange Rate: 1USD=831.50AOA

The Kwanza is the currency of Angola, a coastal country in central Africa. This country of around 37 million people would be a lot more prosperous if it were not for the corruption that has bedeviled it.

Wealth is concentrated in very few hands, and the country has a big problem of poverty. With the Kwanza being such a poor currency, the most affected are the poor in the country who are unable to afford even the simplest things.

Nevertheless, the country is seeing more investments, meaning that the currency may soon see some improvements.

20. Somali Shilling (SOS)

Exchange Rate: 1USD=571.50SOS

The Somali Shilling is the currency of Somalia, and country in east Africa. Somalia has a population of around 12 million people; and the people are Afro-asiatic with a strong cultural leaning to the Arab world. Somalia is quite a popular but for the wrong reasons.

War tore through this country a couple of years ago, nearly reducing everything to rubble. The government collapsed, and so did the currency. It has already started its recovery, but the road is still long and arduous.

There is very little infrastructure to drive growth; the country needs a period of peace to convince investors that they can safely do business in the country.

The following is a more complete presentation of the 100 lowest currencies in the world.

Position Currency Country Exchange Rate Location
1 Iranian Rial (IRR) Iran 1USD=42,070IRR Western Asia
2 Vietnamese Dong (VND) Vietnam 1USD=24,425VND Asia
3 Sierra Leonean Leone (SLL) Sierra Leone 1USD=20,969SLL West Africa
4 Laotian Kip (LAK) Laos 1USD=20,862LAK Asia
5 Indonesian Rupiah (IDR) Indonesia 1USD=15,573IDR Asia
6 Uzbekistani Som (UZS) Uzbekistan 1USD=12,940UZS Central Asia
7 Guinean Francs Guinea 1USD=8,579GNF West Africa
8 Guinea-Bissau Francs Guinea-Bissau 1USD=8,595GNF West Africa
9 Paraguayan Guarani (PYG) Paraguay 1USD=7,271PYG South America
10 Burundian Franc (BIF) Burundi 1USD=2,860BIF East Africa
11 Congolese Franc (CDF) DR Congo 1USD=2,750CDF Central Africa
12 São Tomé and Príncipe Dobra (STN) São Tomé and Príncipe 1USD=22,281STN Central African
13 Malagasy Ariary (MGA) Madagascar 1USD= 4500MGA East Africa
14 Cambodian Riel (KHR) Cambodia 1USD=4,081KHR Asia
15 Ugandan Shilling (USH) Uganda 1USD=3,870USH East Africa
16 Nigerian Naira (NGN) Nigeria 1USD=1500NGN West Africa
17 Myanmar Kyat (MMF) Myanmar MMF1,531.78- 1 USD Asia
18 Iraqi Dinar (IQD) Iraq 1USD=1,310IQD Western Asia
19 Rwandan Franc Rwanda 1USD=1,273RWF East Africa
20 Malawian Kwacha             (MWK) Malawi MWK1,011.6- 1 USD East Africa
21 North Korean Won             (KPW) North Korea KPW   899.98- 1 USD Asia
22 Angolan Kwanza (AOA) Angola 1USD=831.50AOA Central Africa
23 West African Francs Benin, Ivory Coast, Benin, Burkina Faso,  Guinea-Bissau, Mali, Niger, Senegal and Togo 1USD=612.544XOF West Africa
24 Central African Francs Cameroon, Gabon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea 1USD=608.64XAF Central Africa
25 Sudanese Pound Sudan 1USD =600SDG East Africa
26 Somali Shilling (SOS) Somalia 1USD=571.50SOS East Africa
27 Kazakh tenge (KZT) Kazakhstan KZT 464.05- 1 USD Central Asia
28 Comorian franc             (KOF) Comoros KOF430.94 – 1 USD East Africa
29 Hungarian forint             (HUF) Hungary HUF 400.21- 1USD Eastern Europe
30 Sri Lankan rupee             (LKR) Sri Lanka LKR 364.50 – 1 USD Asia
31 Zimbabwean Dollar (ZWL) Zimbabwe USD1=322ZWL Southern Africa
32 Pakistani rupee             (PKR) Pakistan PKR 221.50- 1 USD Asia
33 Guyanese dollar             (GYD) Guyana GYD 205.69 – 1 USD South America
34 Djiboutian franc             (DJF) Djibouti DJF 177.78- 1 USD East Africa
35 Jamaican Dollar             (JMD) Jamaica JMD 151.59- 1 USD Caribbean
36 Liberian Dollar             (LRD) Liberia LRD 153.73- 1 USD West Africa
37 Algerian Dinar             (DZD) Algeria DZD 140.29- 1 USD North Africa
38 Haitian Gourde             (HTG) Haiti HTG 129.03- 1 USD Caribbean
39 Kenyan shilling             (KES) Kenya 1USD=159.59KES East Africa
40 Japanese Yen   (JPY) Japan JPY149.28-1USD Asia
41 Serbian Dinar   (RSD) Serbia and Montenegro RSD 117.29- 1 USD Europe
42 Icelandic Króna             (ISK) Iceland ISK 146.04- 1 USD Europe
43 Russian Ruble   (RUR) Russia RUB91.38=1USD Europe
44 Kyrgyzstani Som             (KGS) Kyrgyzstan KGS 84.00- 1 USD Asia
45 Indian rupee    (INR) India INR     81.93=1USD Western Asia
46 Mozambique metical             (MZN) Mozambique MZN63.50=1USD Southern Africa
47 Gambian dalasi             (GMD) The Gambia GMD   61.01=1USD West Africa
48 Macedonian denar             (MKD) North Macedonia MKD   61.81-1USD Europe
49 Philippine peso             (PHP) Philippine PHP 58.40-1USD Asia
50 Ethiopian birr (ETB) Ethiopia ETB 52.91- 1USD East Africa
51 Uruguayan peso             (UYU) Uruguay UYU 39.89-1 USD South America
52 Thai baht         THB Thailand THB 37.36-1USD Asia
53 Ukrainian hryvnia            ( UAH) Ukraine UAH36.76-1USD Europe
54 Nicaraguan córdoba             (NIO) Nicaragua NIO35.45-1USD South America
55 Surinamese dollar             (SRD) Suriname SRD29.71-1USD South America
56 Slovak koruna             (SKK) Koruna SKK 26.39-1USD Europe
57 Czech Republic  Koruna        (CZK) Czech Republic CZK 24.32-1USD Europe
58 Egyptian pound             (EGP) Egypt EGP 24.32-1USD North Africa
59 Honduran lempira (HNL) Honduras HNL 24.34- 1USD South America
60 Moldovan leu (MDL) Moldova MDL 19.06-1USD South America
61 Mexican peso (MXN) Mexico MXN 19.47-1USD North America
62 Namibian Dollar Namibia NAD17.75-1USD Southern Africa
63 South African rand South Africa, Namibia, Lesotho,  Swaziland ZAR17.75-1USD Southern Africa
64 Seychellois Rupee             (SCR) Seychelles SCR14.35-1USD East Africa
65 Maldivian Rufiyaa             (MVR) Maldives MVR 15.38-1USD South Asia
66 Eritrean Nakfa (ERN) Eritrea ERN 15.00-1USD East Africa
67 Estonian kroon             (EEK) Estonia EEK14.2802-1USD Europe
68 Ghanaian Cedi             (GHS) Ghana GHS14.06-1USD West Africa
69 Botswana Pula             (BWP) Botswana BWP13.23-1USD Southern Africa
70 Tajik Somoni    (TJS) Tajikistan TJS 10.05-1USD Asia
71 Swedish Krona             (SEK) Sweden SEK 10.86-1USD Europe
72 Moroccan Dirham             (MAD) Morocco, Western Sahara MAD   10.93-1USD North Africa
73 Norwegian Krone             (NOK) Norway, Svalbard NOK 10.25-1USD Europe
74 Salvadoran Colon,       (SVC) El Salvador SVC 8.75-USD Central America
75 Solomon Islands dollar   (SBD) Solomon Islands SBD 8.21-USD Oceania
76 Macau Pataca (MOP) Macau MOP 8.09- 1USD Asia
77 Croatian Kuna (HRK) Croatia HRK 7.54-1USD Europe
78 Hong Kong dollar             (HKD) Hong Kong HKD 7.85- 1USD Asia
79 Guatemalan quetzal             (GTQ) Guatemala GTQ 7.70- 1 USD Central America
80 Renminbi         (CNY) China, People’s Republic of CNY7.19=1USD Asia
81 Danish krone   (DKK) Denmark, Faroe Islands, Greenland DKK6.92=1USD Europe
82 Bolivian boliviano             (BOB) Bolivia BOB 6.80-1USD South America
83 Trinidad and Tobago dollar   (TTD) Trinidad and Tobago TTD 6.68-1USD
84 Brazilian Real   (BRL) Brazil BRL5.12-1USD South America
85 New Turkish Lira             (TRY) Turkey TRY 5.375-1USD Europe
86 Emirati dirham             (AED) UAE AED 3.67-1USD Western Asia
87 New Israeli Shekel             (ILS) Israel ILS 3.55-USD Asia
88 Libyan Dinar    (LYD) Libya LYD 4.95-USD North Africa
89 Malaysian Ringgit             (MYR) Malaysia MYR 4.75-USD Asia
90 Polish Zloty     (PLN) Poland PLN 4.68-USD Europe
91 Romanian Leu (RON) Romania RON 4.89-USD Europe
92 Tunisian Dinar (TND) Tunisia TND3.21-USD North Africa
93 Saudi Riyal       SAR Saudi Arabia SAR 3.75-1USD Western Asia
94 Qatari Rial     (QAR) Qatar QAR3.64-1USD Western Asia
95 Peruvian Sol     (PEN) Peru PEN3.95-1USD South America
96 Papua New Guinean Kina     (PGK) Papua New Guinea PGK3.52-1USD Oceania
97 Lithuanian Litas             (LTL) Lithuania LTL 3.0245-1USD Europe
98 Caribbean Dollar             (XCD) Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines XCD2.70-1USD Caribbean
99 Samoan Tala     (WST) Samoa WST2.80-1USD Oceania
100 Tongan pa’anga             (TOP) Tonga TOP 2.43-1 USD Oceania

Closing

The lowest currencies in the world are those that lack demand. Ordinarily, no currency gets demand as an automatic feature; it comes from economic activity. These currencies therefore reflect the amount of economic activity, or the lack of it that may be found in their respective countries.

As the world is constantly changing, so also are the dynamics of each country’s economy. Nevertheless, one thing remains clear; poverty cannot be defeated unless with proper planning and foresight.

Related:

Closing

So we just reviewed the top 10 lowest currencies in the World presently and the importance of understanding the exchange rates of the world’s weakest currencies. You could imagine featuring amongst the richest personalities in your country, whereas you’re worth not an iota of another rich man’s money. This might seem incredible to you if you don’t know how valuable your country’s currency is when compared with foreign currencies. And quite humorously, a U.S citizen who works as a cleaner and earns few dollars as part of low-class earners could come to Nigeria or a number of other African countries and pose as a rich person.

This remains so because diverse currencies are more valuable than each other. At the same time, the value a certain currency commands when compared with other prestigious currencies remains the actual determinant of a person’s financial worth.

In the world of today, the monetary arena is undoubtedly dominated by prestigious currencies such as the British Pounds Sterling, the U.S dollar, the Chinese Yen, and many others.

As this post further enlightens you on the worth of your country’s currency, we’re sure you now realized that what seems phantom in one country could turn out to be a piece of debris (or any valueless object you could mention) in another country. As many countries are differentiated by economic systems and the currencies in place, one might find it hard to estimate his worth even when he doesn’t have more than a single token.

Meanwhile, the value of world currencies is greatly determined by factors affecting world trade and exchange activities. Quite frankly, factors such as inflation, recession, etc. are no exceptions.

That’s all on “List Of Top 10 Lowest Currencies in the World”, share your thoughts and suggestions with us through the comment box and like us on Facebook @ facebook.com/9jaquest or follow us on twitter @ twitter.com/NaijaQuest.

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