Top 10 Weakest Currencies In The World 2023

Weakest Currencies in the World 2023

Countries artificially reduce the value of their currency for their country’s export import and other benefits. Most people know and want to know about the strongest, most stable and powerful world currencies. But there are countries in the world whose currency is 1 USD = thousands.

Want to know what is the lowest currency in the world in 2023? Countries with lowest currency does not mean that their GDP per capita is also low, but this list also includes rich countries but their currency value is very low against the dollar. Here we have made a list of the top 10 Weakest Currencies in the world in 2023. Check out below!

The exchange rates of the weakest currencies updated in January 2023.

10. Cambodian Riels: 1 USD = 4,113 KHR

By Gorgo - Photo taken by author, Public Domain

Symbol: ៛
Value: US$1 = 4,113 KHR

The riel is the official currency of Cambodia. The Cambodian Riel is the 10th lowest priced currency in the world by 2023. There are two separate reels, the first being released between 1953 and May 1975. There was no monetary system in the country between 1975 and 1980. A second currency, also known as the “riel”, has been issued since 20 March 1980.

Popular belief suggests that the name of the currency comes from Reel, a fish from the Mekong River. It is more likely that the name derives from the high silver content of the Spanish-American dollar, worth eight reals, a coin that was widely used for international trade in Asia and the Americas from the 16th to the 19th century. Everyone knows the exchange rate of 4,000 KHR/US$ for retail trade, Reel is paid for change in fractions of a dollar.

09. Colombian Peso: 1 USD = 4,841

Symbol: $
Value: US$1 = 4,841 COP

The 9th weakest currency in the world in 2023 is the Colombian peso (COP), which is the official currency of Colombia. The official peso symbol is $ along with col$. It is also being used to differentiate it from other peso- and dollar-denominated currencies.

Theoretically one peso is divided into one hundred centavos; However, due to high inflation in the 1970s and 1980s, the minting of all centavo coins was discontinued in 1984. The 5, 10, 20 and 50 peso coins are still legal tender, but due to their low value and circulation, most cash transactions are rounded up. To the nearest 100 pesos.

Colombia used the Spanish colonial real until 1820 when it gained independence from Spain. It was replaced by the Colombian Real. In 1837, the Colombian real was replaced by the current peso at a rate of 1 peso = 8 reales and was initially subdivided into 8 reales.

08. Paraguayan Guarani: 1 USD = 6,901 PYG

Image: Theworldnote.com

Symbol: ₲
Value: US$1 = 6,901 PYG

The Guarani is the national currency unit of Paraguay. It is among the top 10 Lowest currencies in the world in 2023. The Guarani was subdivided into 100 centimos, but due to inflation the centimos are no longer in use. The law creating the Guarani was passed on October 5, 1943, and replaced the peso at a rate of 1 = $P100.

Guarani was first issued in 1944. Between 1960 and 1985, the Guarani was pegged to the United States dollar at 126 = US$1. New 5000 note has been issued. ₲5,000 was brought into circulation on 14 January 2013.

This note is printed by the Canadian Bank Note Company. Such safety features include see-through windows in the shape of locomotives, watermarks of portraits. Although the note would still feature the portrait of Don Carlos Antonio López, the reverse would also feature the López Palace design. The ₲10,000 as well as the ₲20,000 notes are produced by the Polish Security Printing Works. On 22 December 2016, new notes of ₲20,000, ₲50,000 and ₲100,000 were introduced with increased security.

07. Guinean Francs: 1 USD = 8,770 GNF

Guinean Francs is lowest currency in the world

Image: Foreigncurrencyandcoin.com

Symbol: FG (possibly also Fr or GFr)
Value: US$1 = 8,770 GNF

The Guinean franc is the official currency of Guinea. The Guinean Franc ranks 7th among the top 10 weakest currencies in the world in 2023. It is subdivided into one hundred centimes, but no centime denomination was ever issued.

On January 21, 2018, the Central Bank of the Republic of Guinea issued a revised banknote of 20,000 francs with reduced size and enhanced security features. On March 1, 2019, the 59th anniversary of the introduction of its national currency, the Central Bank of the Republic of Guinea issued a revised banknote for 10,000 francs and a new banknote for 2,000 francs.

Currently, the smallest denomination in circulation is the 500 franc note due to low purchasing power. As of 01 January 2023, 1 euro is equal to 9,335 Guinean francs, meaning that the highest denomination banknote of 20,000 francs is worth less than 3 euros.

06. Uzbekistani Sums: 1 USD = 11,254 UZS

Image: Advantour.com

Symbol: сум
Value: US$1 = 11,254 UZS

The soʻm (Sum) is the official currency of Uzbekistan in Central Asia. The sum is the official currency of Uzbekistan in Central Asia. In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble the som, and the name appeared on the reverse of banknotes between the texts on the denomination of the bills in all 15 official languages of the Union. The word som means “pure” in Kyrgyz, Uyghur and Uzbek, as well as in several other Turkic languages. The word means “pure gold”.

Additionally, the sum is the seventh weakest currency in the world in 2023. Uzbekistan replaced the ruble at par on 15 November 1993. 25, 50, 100, 200, 500, 1000, 5000 and 10,000 sum. Because it was to be a transitional currency, the design was rather simple. All notes had the coat of arms on the obverse, and the Sher-Dor madrasah of the desert in Samarkand on the reverse. Earlier no coins were issued for the som. The coins were sold for 5 cents.

05. Indonesian Rupiahs: 1 USD = 15,674 IDR

Image: Indonesia-investments.com

Symbol: Rp
Value: US$1 = 15,674 IDR

The rupiah is the official currency of Indonesia, the fifth weakest circulating currency in the world as of January 2023, with one United States dollar equal to Rp 15,674. The name “rupee” is derived from the Sanskrit word for silver, rupyakam. Occasionally, Indonesians also informally use the term “perak” (“silver” in Indonesian) to refer to the rupee in coins. The rupee is subdivided into 100 sen, although high inflation has rendered all coins and banknotes obsolete.

Introduced in 1946 by Indonesian nationalists fighting for independence, the currency replaced a version of the Netherlands Indies Gulden, which had been introduced during the Japanese occupation in World War II. In its early years, the rupee was used in conjunction with other currencies, including a new version of the Gulden introduced by the Dutch. The Riau Islands and the Indonesian half of New Guinea had their own versions of the rupiah in the past.

04. Lao Kips: 1 USD = 17,284 LAK

Image: leftovercurrency.com

Symbol: ₭ or ₭N
Value: US$1 = 17,284 LAK

The kip has been the official currency of Laos since 1955. Historically, a kip was divided into 100 att. A 100,000 kip banknote was issued on 15 November 2010 to commemorate the 450th anniversary of the establishment of the capital Vientiane and the 35th anniversary of the establishment of the Lao People’s Democratic Republic. Kaysone Phomvihane is depicted on the obverse of the 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 kip banknotes.

In addition, the governor of the Bank of Laos announced on January 25, 2012 that the people of Laos would be eligible for U.S. national currency instead of the dollar and the Thai baht. In 1945-1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 100 kip, before the French authorities took control of the region. The Lao Kip ranks 4th among the top 10 lowest calculating currencies in the world in 2023.

03. Sierra Leonean Leones: 1 USD = 18,855 SLL

Sierra Leonean Leones is a weakest currency

By: Dr.Trex - Own work

Symbol: L
Value: US$1 = 18,855 SLL

Leone is the official currency of Sierra Leone which is among the top 10 lowest valued currencies in the world in 2023. It is subdivided into 100 cents, but due to the low value of the currency, denominations in cents are no longer in use. The ISO 4217 code is ssl and it is abbreviated as leon because the li is placed before the amount. Due to inflation, the 20,000 leon banknote is suggested. As of 23 October 2018, 20,000 león is equivalent to approximately 2.09 EUR. As of January 2023, 20,000 Leones is equivalent to approximately 0.99 EUR.

Leon was introduced on 4 August 1964. It replaced the British West African pound at a rate of 1 pound = 2 leones. With the introduction of decimal currency in 1964, a new series of banknotes was introduced by the Bank of Sierra Leone. Originally called shillings, the name “leon” eventually settled on the unit. After considering (and later rejecting) several new designs, including a particularly attractive multicolored design, notes were issued in 1, 2 and 5 leone denominations. These officially replace British West African pound notes at an exchange ratio of two leones to one pound.

02. Vietnamese Dongs: 1 USD = 23,610 VND

Image: Bestexchangerates.com

Symbol: ₫/đ U+20AB ₫ DONG SIGN
Value: US$1 = 23,610 VND

As of January 2023, the Vietnamese dong is the second weakest currency unit in the world, with one United States dollar equal to approximately 23,614 dong. Dong is the official currency of Vietnam since 3 May 1978. It is issued by the State Bank of Vietnam. The dong was also the currency of the former states of North Vietnam and South Vietnam, replacing the previously used French Indochinese piastre.

Additionally, it was subdivided into 10 hao, which were further subdivided into 10 xu, neither of which are used anymore due to inflation. The Vietnamese dong has increasingly moved towards exclusively using banknotes, with lower denominations printed on paper and denominations above 10,000, approximately 40¢ dollars or euros, printed on polymer, not to be used as coins until 2023. Vietnam in general is moving towards digital payments.

01. Iranian Rial: 1 USD = 42,024 IRR

Iranian Rial is the weakest currency in the world

Image: Alarabiya.net

Symbol: ﷼
Value: US$1 = 42,024 IRR

The Iranian rial is currently the weakest circulating currency in the world in 2023, with one United States dollar equal to 42,024 Iranian rials. It is the official currency of Iran. There is no official symbol for the currency but the Iranian standard ISIRI 820 defines a symbol for use on typewriters and the two Iranian standards ISIRI 2900 and ISIRI 3342 define the character code used for it. A compatibility character defined in the Unicode Standard is U+FDFC ﷼ RIAL SIGN.

A proposal to replace the rial with a new currency called the name of the previous Iranian currency has been agreed by the Iranian parliament, with four zeros left over at a rate of 1 toman = 10,000 rials. They are issued by the Central Bank of Iran, each signed by the President of the Iranian Central Bank. Rls 100, Rls 200 and Rls 500 banknotes are becoming increasingly uncommon, with shopkeepers habitually giving away small packets of gum in exchange for the last Rs 500. Day-to-day means people will be carrying wads of Rs 100,000 notes.

Quick recap of the Top 10 Lowest Currencies in the World in 2023

01. Iranian Rial (1 USD = 42,024 IRR)
02. Vietnamese Dongs (1 USD = 23,614 VND)
03. Sierra Leonean Leones (1 USD = 18,855 SLL)
04. Lao Kips (1 USD = 17,284 LAK)
05. Indonesian Rupiahs (1 USD = 15,674 IDR)
06. Uzbekistani Sums (1 USD = 11,254 UZS)
07. Guinean Francs (1 USD = 8,770 GNF)
08. Paraguayan Guarani (1 USD = 6,901 PYG)
09. Colombian Peso (1 USD = 4,841 COP)
10. Cambodian Riels (1 USD = 4,113 KHR)

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