Weakest currencies in the world in 2024

Jan15,2024

Credit: Google

The rupiah is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam.

Credit: Wikipedia

Indonesian Rupiah

The Lao or Laotian Kip is not a devalued currency but a currency that has had a low rate since the time of its introduction in 1952

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Lao kip

Sierra Leonean Leone is an African currency that is highly affected by poverty. Africa has had a history of financial scandals, corruption and conflicts including a heinous civil war in the western African region

Credit: Wikipedia

Sierra Leonean Leone

The Iranian rial tops the list of the cheapest currencies in the world. The fall in the value of the currency can be explained by various factors. To begin with, the termination of the Islamic Revolution in 1979 was followed by foreign investors’ withdrawal from the country. 

Credit: Wikipedia

Iranian rial

Paraguay is undergoing a terrible economic downturn as a result of high inflation, a high unemployment rate, increase in poverty and corruption. 

Credit: Wikipedia

Paraguayan Guarani

The country has long followed a centralized economy. Although the country embarked on a path of forming a market economy, it still has a long road to walk.

Credit: Wikipedia

Vietnamese Dong

Uganda faced several setbacks under Idi Amin’s governance. The country’s policies including immigration policies have impacted the country’s economy negatively. 

Credit: Wikipedia

Ugandan Shilling

Guinea as a country faces corruption and political instability that leads to a weakened currency. The country’s currency value is getting devalued by the passing years.

Credit: Wikipedia

Guinean Franc

There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system.

Credit: Wikipedia

Cambodian riel