We are sure you’ve heard of EUR, USD, GBP, and other top currencies and maybe even know their rates, at least approximately. But most people do not know about currencies with low values.
So, what is the most worthless currency in the world?
1. Iranian Rial (IRR)
It is the cheapest currency in the world right now. In 2020, the government implemented a currency reform, renaming the national currency the Toman, with a denomination in the ratio of 10000:1.
2. Venezuelan Sovereign Bolivar (VES)
The VES is not the world’s most worthless currency, but it is close to achieving this title. Currently, Venezuela is also among the poorest countries in the world.
3. Vietnamese Dong (VND)
The economy of Vietnam is still recovering from the wars, and the transition from a centralised to a market economy has greatly affected the country and its activities. Investors are still very cautious about investing in the country, which restrains the value of Vietnam’s national currency.
4. Sierra Leonean Leone (SLL)
The leone is the official currency of Sierra Leone. It’s one of the poorest countries on earth. Civil unrest, the recent war (1991-2002), and repeated battles with viruses such as Ebola do not allow the country to focus on economic prosperity.
5. Laotian Kip (LAK)
Since 1991, the country has suffered from chronic inflation, and since 2010, Laos has had a 100,000 kip banknote. For larger transactions, people prefer dollars or Thai baht.
6. Indonesian Rupiah (IDR)
In 2008-2011, the exchange rate fluctuated between 8,500 and 12,000 rupiahs per 1 US dollar. Since then, the rate is steadily growing, and in 2022 it was about 16,200.
7. Uzbekistan Som (UZS)
Due to the extremely low exchange rate, in 2019, the bank issued a banknote of 100,000 soms. The rate reached an АТН of approximately 11,300 in 2023, and the lowest point of 9,400 was in 1994.
8. Guinean Franc (GNF)
Guinea is one of the world’s poorest, with high poverty rates, terrible crime rates, and hyperinflation.
9. Paraguayan Guarani (PYG)
Paraguay ranks third in the list of the poorest South-American countries and has the ninth-weakest currency in the world.
10. Cambodian Riel (KHR)
During the reign of the Khmer Rouge from 1975 to 1979, there was no national currency in the country, so the actual payment means was rice. In April 1980, riel was reintroduced. Cambodia is a multiple currency zone, where the US dollar commands the largest share of domestic use.
✅Read the full article: Open Real Account at FXOpen
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