PULSE
In the global market, currencies fluctuate based on various factors, including economic stability, inflation, and foreign investment.
Some currencies have become weak due to political instability, debt, or high inflation rates. Weak currencies are those that have a low exchange rate against stronger currencies, like the U.S. dollar.
Here are the top 10 weakest currencies in the world, providing insight into their values and why they rank low against the dollar.
1. Iranian Rial (IRR)
Vietnamese Dong [YouTube]
Iran’s economy faces international sanctions, affecting the rial’s value. As of now, one U.S. dollar equals approximately IRR 42,000.
2. Vietnamese Dong (VND)
Indonesian Rupiah [iStock]
Despite Vietnam’s strong economy, the Vietnamese Dong remains low in value due to its high supply and low demand on the global market. One dollar is about VND 23,000.
3. Indonesian Rupiah (IDR)
Indonesian Rupiah [iStock]
The rupiah has struggled due to inflation and economic challenges. One U.S. dollar is around IDR 15,000.
4. Sierra Leonean Leone (SLL)
Sierra Leonean Leone [iStock]
Inflation and political instability contribute to the weak value of the Leone, making it difficult for people in Sierra Leone to afford imported goods. Currently, one dollar equals SLL 21,000.
5. Uzbekistani Som (UZS)
Guinean Franc [iStock]
Uzbekistan is making strides in economic reforms, but the Som still struggles due to inflation and limited trade ties. Despite efforts to stabilise, one U.S. dollar remains at about UZS 11,000.
6. Guinean Franc (GNF)
Guinean Franc [iStock]
Affected by poverty and low foreign investment, the franc is valued at GNF 8,500 per U.S. dollar.
7. Lao Kip (LAK)
Lao Kip [iStock]
Laos has faced economic struggles that impact the Kip’s value, including limited exports and a lack of foreign investment, keeping the kip low at LAK 17,000 per dollar.
8. Paraguayan Guarani (PYG)
Paraguayan Guarani [iStock]
The Guarani faces a weak position partly because Paraguay’s economy relies on agriculture, making it vulnerable to price changes in the global market. Due to limited exports, the guarani stands at PYG 7,400 per dollar.
9. Cambodian Riel (KHR)
Cambodian Riel [iStock]
The riel remains weak despite some growth, trading at KHR 4,000 per dollar.
10. Ugandan Shilling (UGX)
Ugandan Shilling [iStock]
Although Uganda has a growing economy, the Shilling faces challenges, with UGX 3,700 per dollar.
THIS STORY FIRST APPEARED IN PULSE
