Top 15 Lowest Currency in the World in 2023

Most of you might know about the strongest economies of the world. But do you know about countries which have the lowest currency values?

Well, this post covers a list of the top 15 lowest currencies in the world. This list of currencies with their values is based on the exchange rates against the US dollar.

The reason for comparing these currencies with the US Dollar is because of the fact that the US dollar is among the strongest currencies in the world.

Here’s the list of 15 Cheapest Currencies in the World 2023

  • #15. Burundian Franc

    Burundian Franc is the official currency of Burundi. Burundi, a country located in East Africa is one of the poorest countries in the world. No wonder it has its name in the list of weakest currency in the world.

    1 US Dollar = 2,077.45 Burundian Franc
    Currency code = BIF
    Country of issuance: Burundi
    BIF Banknote denominations: 10, 20, 50, 100, 500, 1,000 and 5,000

    Burundian Franc

  • #14. Tanzanian Shilling

    Tanzanian Shilling, also known as Shillingi, is the official currency of Tanzania, a country in eastern Africa. This was a replacement of the East African rupee which was introduced during the colonial period.

    1 US Dollar = 2,335.00 Tanzanian Shilling
    Currency code = TZS
    Country of issuance: Tanzania
    TZS Banknote denominations: 500, 1000, 2000, 5000 and 10000

    Tanzanian Shilling

  • #13. Colombian Peso

    This is the official currency of Colombia. The value of this currency has depleted by hundred 100%  in the past five years.

    1 US Dollar = 4,703.48 Colombian Peso
    Currency code = COP
    Country of issuance: Colombia
    COP Banknote denominations: 1000, 2000, 5000, 10000, 20000, 50000 and 100000

    Colombian Peso

  • #12. Malagasy Ariary

    Malagasy Ariary is the official currency of the Republic of Madagascar. Introduced in 1961, the Malagasy Ariary had a value equal to five Malagasy francs.

    1 US Dollar = 4,369.96 Malagasy Ariary
    Currency code = MGA
    Country of issuance: Republic of Madagascar
    MGA Banknote denominations: 2000, 5000, 10000 and 20000

    Malagasy Ariary

  • #11. Ugandan Shilling

    This is the official currency of the Republic of Uganda. It was introduced with the establishment of the Bank of Uganda in the year 1966.
    1 US Dollar = 3,686.96 Ugandan Shilling
    Currency code = UGX
    Country of issuance: Republic of Uganda
    UGX Banknote denominations: 1000, 2000, 5000, 10000, 20000, 50000

    ugandan shilling

  • #10. Cambodian Riel

    This is the official currency of Cambodia, a country in the southeast region of Asia. From the time it was introduced, Cambodian Riel had a low exchange rate. One of the reasons for this is the fact that foreign currency (US Dollar) was more popular among the locals in Cambodia.

    1 US Dollar = 4,126.41 Cambodian Riel
    Currency code = KHR
    Country of issuance: Cambodia
    KHR Banknote denominations: 50, 100, 500, 1000, 2000, 5000, 10000, 20000, 50000 and 100000

    cambodian riel

  • #9.Paraguayan Guarani

    This is the national currency of Paraguay, a country in the continent of South America. It is one of the weakest economies of South America. The country suffers an economic downturn due to various factors such as unemployment, low-quality education, etc.

    1 US Dollar = 7,425.62  Paraguayan Guarani
    Currency code = PYG
    Country of issuance: Paraguay
    PYG Banknote denominations: 2000, 5000, 10000, 20000, 50000 and 100000

    paraguayan guarani

  • #8. Uzbekistani Som

    The Uzbekistani Som is the official currency of Uzbekistan. The country had been using the Russian Ruble even after its independence from the USSR. This had continued till Uzbekistan introduced Uzbekistani Som on November 15, 1993.
    1 US Dollar = 11,2318.88 Uzbekistani Som
    Currency code = UZS
    Country of issuance: Uzbekistan
    UZS Banknote denominations: 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000, 10000

    Uzbekistani Som

  • #7. Lao Kip

    Lao Kip or Laotian Kip is the official currency of Laos. Though the currency is increasing in value, it still has a long way to find its way out of the list of the lowest currencies in the world.

    1 US Dollar = 16,908.30 Laotian Kip
    Currency code = LAK
    Country of issuance: Laos
    LAK Banknote denominations: 1, 5, 10, 20, 50, 100, 500, 1000, 2000, 5000, 10000, 20000, 50000, 100000

    lao kip

  • #6. Sierra Leonean Leone

    This is the currency of Sierra Leone, a country in West Africa. One of the poorest countries in the world, Sierra Leone has suffered war and epidemics. It has a very weak economy which doesn’t seem to get better any sooner.

    1 US Dollar = 19,185.00 Sierra Leonean Leone
    Currency code = SLL
    Country of issuance: Sierra Leone
    SLL Banknote denominations: 1000, 2000, 5000, 10000

    sierra leonean leone

  • #5. Guinean Franc

    This is the official currency of Guinea, a small country on the Western coast of Africa. Though rich in natural resources, the country has a weak economy because of the high inflation rate and low education rate.

    1 US Dollar = 8,636.70 Guinean Franc
    Currency code = GNF
    Country of issuance: Guinea
    GNF Banknote denominations: 100, 500, 1000, 5000, 10000 and 20000

    guinean franc

  • #4. Indonesian Rupiah

    Indonesian Rupiah is the national currency of Indonesia. Although the country is believed to be economically stable, the currency here has a low exchange rate and hence it has made its place on this list.

    1 US Dollar = 15,161.15 Indonesian Rupiah
    Currency code = IDR
    Country of issuance: Indonesia
    IDR Banknote denominations: 1000, 2000, 5000, 10000, 20000, 50000, 100000

    Indonesia Rupiah

  • #3. Sao Tome and Principe Dobra (STD)

    This is the currency used in the country of Sao Tome and Principe. The country is known for coconut, coffee, and cocoa exportation. Because of the country’s recent development in the petroleum sector, there is hope of a better economy in the future.

    1 US Dollar = 20,698.07 STD
    Currency code = STD
    Country of Issuance: Sao Tome and Principe
    STD Banknote denominations: 5000, 10000, 20000 and 50000

    sao tome and principe dobra

  • #2. Vietnamese Dong

    This is the national currency of Vietnam, a country in Southeast Asia. The Vietnamese Dong is popular for being one of the highest denomination currencies in the world even though it is one of the lowest value notes.

    1 US Dollar = 23,450.00 Vietnamese Dong
    Currency code = VND
    Country of issuance: Vietnam
    VND Banknote denominations: 10000, 20000, 50000, 100000, 200000, 500000

    Vietnamese Dong

  • #1. Iranian Rial

    The Iranian Rial is officially the world’s cheapest currency.

    This is the official currency of Iran. It is known for being the world’s weakest currency. Even though Iran is rich in oil, the country is sanctioned by the US for oil exportation which has made the currency of Iran weaker.

    1 US Dollar = 41,900.00  Iranian Rial
    Currency code = IRR
    Country of issuance: Iran
    IRR Banknote denominations: 100, 200, 500, 1000, 2000, 10000, 20000, 50000, 100000

    Iranian Rial



That is all on the list of the top 15 lowest currencies in the world as of 2023. Hopefully, you found this post useful. Keep visiting us for more updates from the world of finance.

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FAQs About World’s Lowest and Weakest Currencies

Which country has the lowest currency in the world?
Iranian Rial is the world’s lowest currency. 1 US Dollar = 42,400.00 Iranian Rial.

Related: Currency Converter Online

Why is Iran currency so low?
Iran currency is so low because their economy is weak, local banks’ financial difficulties and high-demand for US dollars among Iranians due to low exports of oil and other items.

What is the world’s strongest currency?
Kuwaiti Dinar is the strongest currency in the world. 1 US Dollar = 0.31 Kuwaiti Dinar.
Top 20 Highest Currencies in the World

Why is Kuwait currency so high?
Kuwaiti currency is so high because it’s value is stable as it is not subjected to supply and demand.

What country has the most worthless money?
Venezuelan Bolivar and Iranian Rial – Due to massive devaluation these currencies are not worth the paper they are printed on.

Why is Euro weakening?
Euro is weakening mainly because of the US-China trade war.

Is Iran poor?
According to Iran’s Department of Statistics (announced in 2010) there are 10 million Iranians who live under the absolute poverty line and 30 million who live under the relative poverty line.

How rich is USA?
As of 2018, over $98 trillion was held by American households.


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