There are many reasons why a currency has a low value, including economic instability, high rates of inflation, political unrest, or reliance on foreign aid.Here’s the list that explores the ten lowest valued currencies in the world, looking at the factors that have contributed to their depreciation and the wider implications for each of these currencies.
List of world’s least valuable currencies
Cheapest currencies in the world
Iranian Rial (RR)
Political unrest, the Iran-Iraq war, and the country’s nuclear programme have resulted in a depreciated value of the Iranian Rial currency. Now, 1 Iranian Rial (RR) is valued at 503.76 Indian Rupees.
Vietnamese Dong (VND)
The second least valued currency in the world, the Vietnamese Dong devalued to 304.82 Indian Rupees. The number one cause of this depreciation is the shift from a centralised to a market economy.
Sierra Leonean Leone (SLL)
This African nation faces extreme poverty alongside corruption and wars, due to which the currency’s value has declined to 254.28 Rupees. The catastrophic Civil War is also the number one reason.
Laotian Kip (LAK)
The official currency of Laos is valued at 272.88 against 1 Indian rupee. The currency of the country has witnessed gradual progress.
Indonesian Rupiah (IDR)
Declining reserves, dependency on commodities and high external investments have led to the fall of the IDR at Rs. 197.03.
Uzbekistani Som (UZS)
Uzbekistan Som currency values At a rate of 151.33 UZS to 1 Indian Rupee. It is one of the weakest currencies in the world due to the economic challenges faced by the country.
Guinea Franc (GNF)
Adversely affected by corruption and political instability, Guinea’s official currency values at a rate of 102.31 Rs.
Paraguayan Gurami (PYG)
Inflation, poverty, corruption, and economic collapse have all had an impact on the Paraguayan Guarani (PYG), which is currently valued at 89.35 versus the Indian Rupee.
Cambodian Riel (KHR)
The weakening of the Cambodian Riel can be attributed to its excessive dollarization, even though its circulation has increased by 80% in the last 20 years, primarily because of the US dollar. The Cambodian Riel now stands at a value of 44.82 against the Indian Rupee.
Iraqi Dinar (IQD)
Iraq’s currency, the Iraqi Dinar, is affected by inflation and political upheaval, with a current exchange rate of 15.6 IQD to 1 Indian Rupee.
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