Top 100 Lowest Currencies In The World (2023)

The lowest currencies in the world are determined by the same forces that determine the highest currencies. A good economy creates demand for a currency, as people from outside want to participate in the country’s economy or tourism sector.

That demand is what drives the currency up; and in this case, the lack of it drives the currency down.

The lowest currencies in the world are those belonging to some of the poorest countries in the world, with the most downtrodden citizens, who live in squalor.

Top 100 Lowest Currencies In The World

1. Iranian Rial

1 USD – 42,250 IRR

The Iranian Rial is the currency at the bottom in terms of value. People argue about this, but it is safe to say that this currency’s value may not be a true reflection of its economy. The country is quite developed, and Iran is a very important country when it comes to international policies.

What then is responsible for the country’s currency decline? Many factors actually. First, the decline started during the war between Iran and Iraq, which heated up the regional polity and threatened Israel.

Years later it was discovered that Iran had been building nuclear technology and enriching uranium. This prompted international action which includes trade embargoes and the boycott of Iranian oil. This almost led to the collapse of the country’s economy, and a rapid deterioration of their currency. The theory of “Demand and supply” is once again proven right.

2. Vietnamese Dong

1 USD- 23,495 VND

The Vietnamese Dong is the second most useless currency in the world, although it does not appear that they people of the country are aware of this fact. The reason is that the country operates a socialist economy, but with some traces of market elements.

The country is working hard to build an environment that is suitable for investments, and so Vietnam may soon catch up with its neighbors in terms of development of its economy. The country is attracting investors; and one of the major attractions is –the low value of its currency which means everything is cheaper in Vietnam.

Vietnam is exporting agricultural products, processed food, and this is one of the cheapest places to build electronics factories in the world.

3. Indonesian Rupiah

1 USD- 14,958 IDR

Indonesia has one of the lowest currencies in the world; and that again seems beyond belief. Indonesia is quite developed; the infrastructure and quality of life are quite good. So why is the currency so poor?

The issue largely had to do with printing. The government thought printing 100 Rupiah notes was a good idea, instead of printing several smaller denominations. That led to hyperinflation, as traders simply sold smaller items for bigger amounts of money until things got out of hand.

Even now the government has been implementing authoritarian attempts to get things right, and as you can expect, they have largely failed because they ignored the theory of demand and supply.

4. Guinean Franc

1 USD- 8,590 GNF

The Guinean Franc is another currency of very little consequence. Guinea is a country in West Africa that actually has some great potentials such as access to the sea, rich deposits of gold, aluminum and diamonds, as well as plenty of human capital.

However, years of mismanagement has done little to capitalize on these potentials. Instead, what you have is a near lawless country where gangsters and drug dealers run wild, and where poverty is the norm. These conditions are bad for demand of the currency, and as a result devaluation is inevitable.

Fixing this currency will mean first fixing the country; restoring law and order, ensuring security, empowering the people to be productive, and encouraging foreign investments.

5. Laotian Kip

1 USD- 17,135.80 LAK

The Laotian Kip was introduced at a very low rate, and has largely remained low all through its existence. The currency was introduced in 1952, and has not managed to be very significant internationally.

Laos is a country located in Southeast Asia. It is landlocked, and has neighbors such as Myanmar, China, Vietnam, Cambodia and Thailand.

Apart from China, it does not have any particularly vibrant neighbors, and the country itself does not have much potentials in terms of economic strengths which can attract investors. Nevertheless, Laos has good relationships with its neighbors and is surviving thus far.

6. Sierra Leonean Leone

1 USD- 22,493 SSL

Sierra Leone is a West African country; one that nearly fell apart due to a long and bloody war. Things have not really taken shape since then; the country is beset by poverty, economic stagnation, and very low levels of social development.

The Sierra Leonean Leone is not surprisingly low in terms of value; even in Africa, it ranks among the least valuable currencies.

Fixing this currency will require fixing the country. Social cracks still exist, but requiring more urgent attention needs to be given to the lack of infrastructure, including healthcare facilities. Then, when the infrastructure is in place, the economy can grow.

7. Uzbekistani Som

1 USD = 8336 UZS

The Uzbekistani Som has been low for many years, and that has been recognized as a problem all the while. However, the corrective moves have not really been to much effect.

The old notes were abolished, and new ones were issued. By presidential decree, a new exchange rate was set, which was better than before, and which was hoped to stimulate the country’s currency, setting it on the way to recovery.

The result has been inconclusive; the Som is still low in value, and showing very little signs of improvement. Perhaps, a more long term approach would be better; one that takes note of demand and supply.

8. Paraguayan Guarani

1 USD = 5953 USD

Paraguay is the poorest country in South America; but it has itself to blame for that position. Unbridled corruption, political instability, and a lack of will on the part of the people to effect change has put this country in the unfavorable position that it is in today.

Ideally, before groaning about the exchange rate, many things have to be fixed. Security of lives and property has to be improved, infrastructure has to be provided and adequately maintained, the education sector has to be revamped, and unemployment has to be tackled.

Rather than think of quick fixes such as presidential decrees, long term solutions should be sought, such as growing the economy, and increasing exports. Maybe in the next 20 years, this country can be good enough to have a currency that has some value.

9. Cambodian Riel

1 USD = 4016 USD

Cambodia is a country in Southeast Asia. The country has much in common with its neighbors such as Thailand, Vietnam and Laos which are equally poor countries with currencies that have very little value.

The country’s currency has been low since inception; and sections of the country’s public did not accept it. Hence, the Riel is used with the American dollar, as well as other notable currencies.

10. Ugandan Shilling

1 USD = 3714 UGX

The Ugandan Shilling is also a low value currency- it belongs to the east African country of Uganda. Uganda has had it really bad in terms of leadership; and the country has had a long history of social instability from which it has never really recovered.

The countries has ridiculously high denominations of its banknotes in circulation, and these high denominations have little or no value.

It will take a lot of work to get this currency back on track; first the economic prospects have to be improved for the people.

The following is a more extensive list of the lowest currencies in the world.

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Closing

The above is a robust list of the 100 lowest currencies in the world; the currencies occupying the top of the list being those whose value are scandalously low, while those nearer the bottom are those that least weak, or rather strong.

Disclaimer: The information above is for educational purposes only; it should not be used as financial information. Neither the writer nor the owners of this website are liable for any losses incurred by the use or misuse of this article.