Top 10 Weakest Currencies In The World 2017

Top 10 Weakest Currencies In The World 2017

The Iranian Rial is the currency of Iran and it is the weakest currency in the world. 32,037
Iranian Rial is exchanged with 1 US dollar. This is an irony considering the fact that Iran is blessed with oil. But then, the Iran-Iraq war, Israeli attack as well as the sanctions (very important one is not being able to export oil) from the world superpower are the reason for making the Iranian currency weak.

The Sao Tome and Principe Dobra is the official currency used in Sao Tome and Principe, Island countries in West Africa. These countries are into the exportation of Coffee, Cocoa and Coconut. The profit generated from these is not enough to supporting the economy at the appropriate level. The currency is exchanged 23,081 Sao Tome and Principe Dobra to 1 USD.There’s hope for this currency to increase in strength as oil had been discovered in Sao Tome.

The Vietnamese Dong is the third lowest currency in the world, it is the currency of
Vietnam, a socialist country in South East Asia. 22,482 Vietnamese Dong is exchanged with
one dollar. Vietnam is still on its hard path from the centralized economy type to the market one and consequently, it currency almost devalued today. However, experts insist that Vietnamese Government is going the right way and soon it can catch up with its closer Asian neighbors.

Belarusian republic is the emigrant country after USSR collapse in 1992. This country created its own national currency known as Belarusian Ruble that is still falling as per its exchange rate (currently, 1 USD = 20,486 Belarusian Ruble). High taxes and inflation as well as corruption and political restrictions led to significantly low price for this currency inside the global market.

5. INDONESIAN RUPIAHUnexpected on our list of top 10 lowest currency in the world. Simply put, Indonesia is economically stable and developed country in South East Asia, though the currency has a low exchange rate, despite all effort to make it strong by the economic team of the country. A USD is worth 13,425 Indonesian Rupiah.

6. LAO KIPLao Kip was initially introduced with a very low exchange rate. 8,263 Lao kip is exchanged with 1 USD. In recent years, this currency is gradually increasing in value.

7. GUINEAN FRANCThe Guinean Franc is the currency of Guinea, country in Africa. Considering the natural
resources of the country such as gold, adamant and aluminum, the country’s currency is supposed to be of high value but due to the high inflation rate as well as the progressing poverty and gangsters prosperity,the currency is being devalued. 9,120 GuineanFrancs are exchanged for 1 USD.

Paraguay is the second poorest country in South America. It is characterised by what can be said to be a disastrous economic downturn. High rate of inflation, corruption, low education quality, enormous number of poor people, high unemployment rate, etc are the problems bedeviling the country. Paraguay exports cotton and soybean but this is hardly enough to cover expenses. 5,757.5 Paraguayan Guaraní is equal to 1 USD.

9. SIERRA LEONEAN LEONESierra Leone is a very poor African country which handled out many serious tests and this caused the local currency to devalue. The country has also experience war and also the outbreak of the Ebola Virus. 5,605 Sierra Leonean Leone is exchanged with 1 USD.

The Cambodian Riel is the currency of Monarch State in South East Asia. Currently tenth on our list of top 10 lowest currency in the world, It was implemented in 1995 to change Indochinese Piaster. Even when it was introduced, Riel had a low exchange rate and was not popular among locals who had decided to use foreign currencies (USD) for payment. This had led to the currency being devalued. 4,016 Cambodian Riel is exchanged for 1 USD.

Source; Nairaland