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. So, here goes the list:
Top 15 Lowest Currency in the World in 2023
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
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#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
Also Read: Interesting facts about money which are going to blow your mind
Conclusion
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.
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.
Now 1 $ equals 178000 Rials in iran, one of richest countries in oil & mines running dangerously to economic collapse. People suffering from the most stupid & corrupt government in the world
Bullish. I am Iranian and I know all happened because most people of Iran attended election and voted for this type of economy management. No blame to the system. Everything was people’s choice. Regarding corruption, again young population chose the globalist Hassan Rouhani as the president and experienced the same thing that rest of the world has experienced by choosing these guy. Nevertheless, corruption is Iran is so subtle. It is not as obvious as in many countries and yet better than them.
How long US dollar contuine dominate of all other countries currency after independence till date why our successful governments not think about how to increase rupee value only votebank politics instead of strengthen the rupee value even small items like kid toys also importing from other countries it’s not shame to our country prestige why patriotics, intiligents and highly educated people and others sailent about this.
Iranian rial is Approx. 260,000 IRR per 1 USD…. other rate are just official Rate as per demonstration purpose only.
As a foreigner, when you go to exchange office and want to sell 100 USD in exchange of IRR.. you will get approx 26,000,000 IRR.. which is even more than labor wage in Islamic Republic of IRAN..
Its 255,000 nowadays and we (Iranian people) are getting broken…
Now 1 $ equals 298000 Rials in iran
Iranian Rial dropped to 300,000 for 1$
Now 1 $ equals 317000 Rials in iran
Iran is one of oil producing country why there currency so low
How can I buy iranian Rials?