When a country’s currencies’ stability is corrupted, so is its economy. A country’s economy is always dynamic, meaning that it is always changing over time. Below is a list of the top ten countries with the poorest and weakest currencies in the world:
Iran is among the countries which have the poorest and weakest currencies in the world. In other terms, you can state it as having cheapest currency in the world. This was caused mainly by the Iran- Iraq wars against Israel and the imposition of sanctions by the USA. Its currency is known as the Iranian Rial whose exchange rate against the USD is 144,000. READ FULL STORY
2. Venezuela
The Venezuelan currency is known as the Venezuelan Sovereign Bolivar. It is the most inflated currency in the world and this was caused by hyperinflation and creation of a crypto currency by its government. Its current exchange rate against the USD is 45,000.
3. Vietnam
The Vietnamese currency is known as the Vietnamese Dong. Its exchange rate against the USD is 23, 188.
READ: Top 10 Countries with The Strongest Currencies in Africa 2020/2021
4. Sao Tome and Principe
Sao Tome and Principe has the weakest currency in Africa, known as the Sao Tome and Principe Dobra. Its ratio against the USD is 21,560.
5. Indonesia
Despite it being one economically stable country, it has a very low exchange rate. Its exchange rate against the USD is 13,996.
6. Sierra Leone
Sierra Leone is one of the poorest currencies in Africa. The country usually has wars that happen time to time plus Ebola virus that is eminent in the country. Its currency is known as the Sierra Leonean Leone, whose ratio to the USD is 9,711.
7. Uzbekistan
The Uzbekistan currency is known as the Uzbek Sum. Its exchange rate against the USD is 9,536.
8. Guinea
Guinea is one country whose inflation rate is among the highest in Africa. It is well endowed with resources such as diamond and gold yet it is still rotting in poverty. Its currency is known as the Guinean Franc and its ratio to the USD is 9,515.
9. Laotia
The Laotian currency is known as the Lao or Laotian Kip. It is the only currency on this list which did not devalue but was officially issued with a low currency rate in 1952. Its current exchange rate against the USD is 8,849.
10. Paraguay
Paraguay is the second poorest South American country. This is mainly caused by corruption, poverty, high level of unemployment, low education level and inflation. Its current exchange rate against the USD is 6,428.
