There could be many reasons behind the falling value of a currency. From an economic downturn in that country to war actions to GDP decreasing to falling prices of export goods to purchasing power falling to political instability to badly organized monetary policy. On this list, we are mentioning the 10 Weakest Currencies In The World against the USD as of 20th August 2019.
1. Iranian Rial (1 USD = 33,333.33 IRR):
The currency of Iran, Iranian Rial (﷼) is the weakest currency in the world. Iranians commonly express amounts of money in “tomans”. And one “toman” equals 10 rials. The Iran-Iraq War, its consequences and the economic and political sanctions on the country has severely damaged its economy. Iran could not only export its oil but also didn’t have access to the world commodity market.
2. Vietnamese Dong (1 USD= 23,250.68 VND):
The second weakest currency in the world is the Vietnamese Dong (₫). It was introduced as Vietnam’s currency on May 3, 1978. Although Vietnam still has a long way to go to catch up with its neighbour Asian countries, the Vietnamese Dong is popular for being one of the highest denomination currencies in the world.
3. Indonesian Rupiah (1 USD= 14,257.25 IDR):
Indonesian Rupiah (Rp) which is the official currency of Indonesia, is the third weakest currency in the world. It is also known as “perak” in Indonesians. Although the Indonesian Rupiah is among the weakest, Indonesia is an economically stable country.
4. Sao Tomean Dobra (1 USD = 21,560 STD):
The currency of São Tomé and Príncipe is Dobra (Db). The first dobra was introduced in 1977 and in 2018 because of inflation it was redenominated at a rate of 1000 to 1. It was given the new currency code STN. The West African islands St. Tome and Principe are known for exporting cacao, coffee and coconuts and the petroleum sector recently started to develop.
5. Sierra Leonean Leone (1 USD= 9,298.87 SLL):
The currency of Sierra Leone, the leone (Le) is the fifth weakest currency in the world for now. Sierra Leone is an African country that comes among the poorest countries in the world. Serious tests, war and epidemics have affected the health and the economy of the country very poorly.
6. Uzbek Sum ( 1 USD= 9,169.40 UZS):
The Uzbek Sum (so’m) is the currency of Uzbekistan which is located in Central Asia. Before Uzbekistan introduced Uzbekistani Som on November 15, 1993, the country used Russian Ruble as their currency.
7. Guinean Franc (1 USD= 9,207.26 GNF):
The currency of Guinea, Guinean Franc (FG/ Fr/ GFr) is the seventh weakest currency in the world. Located on the Western coast of Africa, Guinea has a weak economy because of the high inflation rate, poverty, crime rate, and low education rate. Although the country is rich in natural resources like gold, diamonds and aluminium, its currency is among the lowest currencies.
8. Lao or Laotian Kip (1 USD= 8,725.62 LAK):
The currency of Laos, Lao kip ( ₭/ ₭N) was introduced in 1952. Lao kip has been improving slowly since it became the official currency of the country but it still has a long way to go.
9. Paraguayan Guarani (1 USD= 6,131.60 PYG):
The national currency unit of Paraguay, Paraguayan guaraní (₲) is the ninth weakest currency in the world. The South American country suffers from many factors including a disastrous economic downturn, inflation, corruption, low education quality, poverty, high unemployment rate etc.
10. Cambodian Riel (1 USD= 4,093.05 KHR):
The currency of Cambodia, the riel (៛) is the tenth weakest currency in the world. Cambodia has issued two distinct riel, between 1953 and 1975 the first riel was issued. The second riel was issued on March 20, 1980. The country did not have any monetary system between 1975 and 1980. Foreign currency mainly the US dollar has been very popular among Cambodians.
These currencies are followed by-
Ugandan shilling (1 USD= 3,700.80 UGX)
Malagasy Ariary (1 USD= 3700.80 MGA)
Colombian Peso (1 USD= 3443.10 COP)
Tanzanian Shilling (1 USD= 2299.15 TZS)
Burundian Franc (1 USD= 1847.70 BIF)
Iraqi Dinar (1 USD = 1195.75 IQD)