Top 10 The Weakest Currencies In The World in 2022 (Updated November)

Weakest Currencies
Pandemic brought alot of economic disruption. Read on to find out the weakest & lowest currencies in the world in 2022.

With the world suffering from the COVID-19 pandemic, economic conditions have worsened exponentially. The weakest Currencies have either remained stagnant or fallen even below what they were in 2022.

The world’s weakest currencies belong to the world’s third-world countries, where perhaps the economic crisis has hit the hardest. Let’s get into it.

1. Venezuelan Bolivar- The Weakest Currency Of The World

The Venezuelan Bolivar ranks as the weakest currency in the world, with some of the highest exchange rates. Venezuela is situated at the north end of the South American region.

It was already trying to recover from a steep economic decline and trying to shift to the market economy when the pandemic hit, spiraling it down to the worst on the list. 

Venezuelen Bolivar Currency Code = VEF

1 USD = 1,038,865.00 VEF

1 EUR = 1,081,530.32 VEF

1 SAR= 277,030.67 VEF 

Updated on 27-11-2022

2. Iranian Rial 

The Iranian Rial ranks as the second weakest currency in the world.

Its economic downfall started as far back as 1979 in the wake of the Islamic Revolution, which led to many businesses leaving the country due to uncertainty.

Since then, Iran has faced a further downfall in the Iran-Iraq war and nuclear sanctions. The sanctions were lifted briefly in 2016 but reinstated more harshly in 2018 and then again in 2022. 

Iranian Rial Currency Code = IRR 

1 USD = 42,400.00 IRR 

1 EUR = 44,157.48 IRR

1 SAR= 11,281.29 IRR 

Updated on 27-11-2022

3. Vietnamese Dong 

The Vietnamese Dong ranks as the third weakest currency in the world.

Still recovering from wars and shifting from a centralized to a market economy has taken its toll on the country and its operations. Vietnam is currently amongst the poorest countries in the world.

However, leading economic experts reassure us that Vietnam is on the right path and will catch up to other countries sooner rather than later. 

Vietnamese Dong Currency Code = VND

1 USD = 24,770.00 VND 

1 EUR = 25,796.72 VND

1 SAR= 6,590.51 VND

Updated on 27-11-2022

4. Sierra Leonean Leone Currency

Sierra Leone, located in Africa, is one of the poorest countries and has one of the world’s weakest currencies.

Civil uproars, a recent war, and recurring combats with deadly viruses like Ebola keep the country from focusing on economic prosperity, resulting in one of the weakest economies.

That, coupled with the COVID-19 pandemic, has made matters even worse for the country as its economy devalued even more in the last two years than it had previously. 

Sierra Leonean Leone Currency Code = SLL

1 USD = 18,225.00 SLL

1 EUR = 18,980.43 SLL

1 SAR= 4,849.09 SLL

Sierra Leonean Leone
Updated on 27-11-2022

5. Indonesian Rupiah 

Indonesia is one of the relatively well-off countries in Southeast Asia. Their economy is stable, and the country is well on the developing side of things and pretty well off. However, their currency rates are meager.

The regulatory bodies have been trying to fix this by issuing new banknotes in denominations of 1 thousand to 100 thousand to replace the older banknotes and other changes to no avail.

The Indonesian Rupiah remains one of the weakest currencies and hopes to advance soon. 

Indonesian Rupiah Currency Code = IDR

1 USD = 15,693.50 IDR

1 EUR = 16,344.00 IDR

1 SAR= 4,175.54 IDR

Updated on 27-11-2022

6. Laotian Kip Currency

The Laotian Kip, belonging to Laos in Southeast Asia, is rare. This is because it is the only currency on our list that has not been devalued.

At its independence, the Laotian Kip was already issued at very low rates to the people back in 1953.

In fact, the Laotian Kip has actually strengthened and grown against the global currencies like the USD and will probably keep doing so shortly. 

Laotian Kip Currency Code = LAK

1 USD = 16,935.00 LAK

1 EUR = 17,636.96 LAK

1 SAR= 4,505.86 LAK

Weakest Currencies
Updated on 27-11-2022

7. Uzbekistani Som Currency

Central-Asian country, Uzbekistan, ranks fifth on the list of the weakest currencies in the world. Part of the third world, Uzbekistan, has not been very well off.

In 2018, however, many regulatory measures were taken to elevate the Uzbekistani Som in the global economy.

While they have been mildly successful in helping the economy grow, Uzbekistan still has a long way to go to compete on an equal footing in the global market. 

Uzbekistani Som Currency Code = UZS

1 USD = 11,222.00 UZS

1 EUR = 11,687.15 UZS

1 SAR= 2,985.82 UZS

Updated on 27-11-2022

8. Guinean Franc Currency

Africa is chock-full of immensely valuable minerals, especially in Guinea. However, the country remains one of the world’s weakest currencies.

The country remains among the world’s poorest, with high poverty rates, gang issues, and inflation. Its economy is one of the most inflated worldwide.

However, it has shown some improvements in the last few months, with the currency growing strong by about a few hundred Franc. 

Guinean Franc Currency Code = GNF

1 USD = 8,800.00 GNF

1 EUR = 9,164.76 GNF

1 SAR= 2,341.40 GNF 

Updated on 27-11-2022

9. Paraguayan Guarani Currency

Paraguay is the second poorest South-American country and the ninth weakest currency in the world.

Due to a combination of economic failure, poverty rates, high corruption, and a small service sector, Paraguay has not been able to advance economically in recent years.

It is a frequent exporter of soybeans and cotton. However, this has not been enough to combat the country’s growing poverty and economic disruption. 

Paraguayan Guarani Currency Code = PYG

1 USD = 7,204.98 PYG 

1 EUR = 7,503.63 PYG

1 SAR= 1,917.40  PYG

Weakest Currencies
Updated on 27-11-2022

10. Cambodian Riel

Cambodia is a monarch state in Southeast Asia and the tenth on our list of the weakest currencies. The Cambodian Riel began its life in 1995 in an effort to replace the Indochinese Piaster.

It was issued at very low rates and was not popular among the locals, making it unable to progress in the global market.

Even now, the Cambodian Riel remains one of the more unpopular currencies in the area.

The locals prefer to make payments using US dollars and other, stronger currencies, leading the currency to devalue even more so. 

Cambodian Riel Currency Code = KHR

1 USD = 4,137.50 KHR

1 EUR = 4,309.00 KHR

1 SAR= 1,101.08 KHR

Weakest Currencies
Updated on 27-11-2022

11. Ugandan Shilling

Despite the devastating effects of COVID-19 on economies, some currencies remained as weak as they were in 2020. Ugandan Shilling(UGX) is one of them. 

The currency Uganda uses is known as the Shillings. Its banknotes have the following face values:

  • 1000 shillings
  • 2000 shillings
  • 5000 shillings
  • 10000 shillings
  • 20000 shillings
  • 50000 shillings

Ugandan Shilling Currency Code = UGX

1 USD = 3,738.62 UGX

1 EUR = 3,893.58 UGX

1 SAR= 994.93 UGX

The value of UGX over time has been stable. It even improved in the past few years.

However, regardless of this currency’s stability, 1 US Dollar is still equal to 3850.60 UGX. Therefore, proving how relatively weak UGX is to other currencies. 

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