Додано: Сер 11 тра, 2022 13:31
Let’s find out more about these weakest currencies in the world.
1. Iranian Rial
The Iranian Rial is the least valued currency in the world. It is the lowest currency to USD. For the simplification of calculations, Iranians regularly use the term ‘Toman’. 1 Toman equals 10 Rials.
Several reasons led to the decline of the Iranian Rial; the war between Iran and Iraq, the threats faced by Israel, and the dangers of possible nuclear warfare. Due to this, measures such as restriction of ‘Iran’s access to the ‘world’s market were implemented, which ultimately caused significant losses to its economy. Iran was a major oil exporter, the country was also deprived of opportunities to export its oil. This again created a crucial deficit in ‘Iran’s national budget.
All of these events led to the dropping of the Iranian Rial as the lowest valued currency. The United States of America and the European Union, in 2016, lifted a few sanctions leading to an improvement of ‘Iran’s economic situation and stabilization of the Rial. However, in 2018, The United States of America imposed and sharpened its sanctions again.
2. Vietnamese Dong
The second cheapest currency in the world is the Vietnamese Dong. Vietnam is still in the way to complete progress from a centralized economy to a market economy. As a result, the Vietnamese Dong is a currency worth the least. Extremely devalued in terms of other world currencies, it has one of the lowest currency exchange rates across all countries except Iran.
However, experts in currency matters claim that the government of Vietnam is marching ahead on the right path to growth and will soon catch up with its Asian neighbors. Soon, the Vietnamese Dong might not even be on the list of the cheapest currency in the world.
3. Indonesian Rupiah
As a result of the low values of banknotes that were of an old style, the presidential decree of 5th September 2016, issued 7 new banknotes Their denominations ranged from one thousand to a hundred thousand Rupiahs.
Though Indonesia is an economically stable and developed country in Southeast Asia, the Rupiah has a very low exchange rate. The regulatory authorities operating in the country have been implementing all measures to strengthen the national currency. However, until now, all efforts have only led to small, insignificant changes.
4. Guinean Franc
One of the most inflated currencies, the Guinean Franc is the official currency of Guinea. An African country with a high inflation rate, increasing poverty, and the prevalence of gangsters, Guinea has been suffering from a currency devaluation for a long time.
The most astonishing aspects of this country are the natural treasures like gold, aluminum, and diamonds that are found in abundance here. With all such resources, the currency should be one of great value. Sadly, this is not the case.
5. Lao or Laotian Kip
The only currency on the list of cheapest currencies in the world that did not devalue is the Laotian Kip. As the only currency that was initially introduced at a very low rate, this currency has been suffering from a very low exchange rate for many years.
Since 1952, the year of its issuance, the Laotian Kip has not been able to strengthen itself against the value of the US Dollar. Despite this fact, the value of this currency continues to improve gradually.
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