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 currency 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 2020
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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 = 1,898.37 Burundian Franc
Currency code = BIF
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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 = 2,315.7 Tanzanian Shilling
Currency code = TZS
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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 = 3,833.01 Colombian Peso
Currency code = COP
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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 = 3,835.47 Malagasy Ariary
Currency code = MGA
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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 = 3,800.69 Ugandan Shilling
Currency code = UGX
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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 = 4,115.25 Cambodian Riel
Currency code = KHR
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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 = 6,605.90 Paraguayan Guarani
Currency code = PYG
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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 = 10,171.82 Uzbekistani Som
Currency code = UZS
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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 = 9,014.61 Laotian Kip
Currency code = LAK
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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 = 9,730.00 Sierra Leonean Leone
Currency code = SLL
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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 = 9,582.62 Guinean Franc
Currency code = GNF
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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 = 14,715.50 Indonesian Rupiah
Currency code = IDR
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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 = 21,425.62 STD
Currency code = STN
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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 = 23,363.67 Vietnamese Dong
Currency code = VND
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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 = 42,105.00 Iranian Rial
Currency code = IRR
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 currency in the world as of 2020. 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 = 42,105.00 Iranian Rial.
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
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..