What are the Lowest Currencies in the World?
Due to international restrictions, Venezuelan Bolívar is the weakest currency in the world in 2022. Most of the people know and want to know about the strongest, most stable and most powerful currencies in the world. But there are also countries in the world whose currency is 1 USD = thousands. Here we have made a list of the Top 10 Lowest Currencies in the World by 2022. Check out below!
10. Cambodian Riels (1 USD = 4,033 KHR)
The riel is the official currency of Cambodia. The Cambodian Riel is the tenth lowest currency in the world by 2022. There are two different reels, the first was 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 states that the name of the currency comes from the reel, a fish of the Mekong River. It is more likely that the name derives from the high silver content Spanish-American dollar valued at eight reals, a coin widely used for international trade in Asia and the Americas from the 16th to the 19th centuries.
- Symbol: ៛
- Value: US$1 = 4,033 KHR
09. Paraguayan Guarani (1 USD = 6,848 PYG)
The Guarani is the national currency unit of Paraguay. It is one of the top 10 weakest currency in the world in 2022. Guarani was subdivided into 100 centimos, but due to inflation, centimos are no longer in use.
The law creating the Guarani was passed on October 5, 1943, and the peso was replaced at a rate of 1 = $P100. Guarani were first issued in 1944. Between 1960 and 1985, the Guarani was pegged to the United States dollar at 126 = US$1.
A new ₲5,000 note has been issued. ₲5,000 was put into circulation on 14 January 2013. This note is printed by the Canadian Bank Note Company. Such safety features include see-through window in the shape of locomotive, watermark of portrait. Although the note will still have a portrait of Don Carlos Antonio López, the reverse will also have the same design of the López Palace. ₲10,000 as well as ₲20,000 notes are produced by Polish Security Printing Works.
On 22 December 2016, new notes of ₲20,000, ₲50,000 and ₲100,000 were introduced with enhanced security.
- Symbol: ₲
- Value: US$1 = 6,848 PYG
08. Guinean Francs (1 USD = 8,764 GNF)
The Guinean franc is the official currency of Guinea. The Guinean franc is one of the top 10 lowest currencies in the world in 2022. It is subdivided into one hundred centimes, but no centime denominations were 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 advanced security features. On March 1, 2019, on 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 23 October 2018, 1 Euro is equal to 10,417.46 Guinean Francs, which means that the highest valued banknote, of 20,000 Francs, has a value of less than 2 Euros.
- Symbol: FG (possibly also Fr or GFr)
- Value: US$1 = 8,764 GNF
07. Uzbekistani Sums (1 USD = 11,274 UZS)
The soʻm (Sum) is the official currency of Uzbekistan in Central Asia. In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble som, and the name appeared on the back of banknotes, among texts on the value of bills in all 15 official languages of the Union. The word som means “pure” in Kyrgyz, Uyghur and Uzbek as well as several other Turkic languages. The word means “pure gold”.
Also, the soʻm is the seventh lowest currency in the world in 2022. Uzbekistan replaced the ruble at par on November 15, 1993. No subdivision of this soʻm was issued and only banknotes were issued in denominations of 1, 3, 5, 10, 25, 50, 100, 200, 500, 1000, 5000, and 10,000 soʻm. Because it was meant to be a transitional currency, the design was rather simple. All notes had the coat of arms on the obverse, and on the rear the Sher-Dor Madrasah of Registan in Samarkand. No coins were issued for the first soʻm. Coins were sold for 5 cents
- Symbol: сум
- Value: US$1 = 11,274 UZS
06. Lao Kips (1 USD = 12,006 LAK)
The kip is the official currency of Laos since 1955. Historically, one kip was divided into 100 att (ອັດ). A 100,000 kip banknote was issued on 15 November 2010 to commemorate the 450th anniversary of the founding of the capital Vientiane and the 35th anniversary of the founding 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 Bank of Laos would issue 100,000 kip banknotes as a regular issue on February 1, 2012, to enable Lao people to enter the U.S. To encourage the use of the national currency instead of the dollar and the Thai baht. The Kip ranks sixth among the top 10 lowest calculating currencies in the world in 2022.
- Symbol: ₭ or ₭N
- Value: US$1 = 12,006 LAK
05. Sierra Leonean Leones (1 USD = 12,314 SLL)
The leone is the official currency of Sierra Leone. It is one of the top 10 lowest currencies in the world in 2022. It is subdivided into 100 cents, but the denominations in cents are no longer in use due to the low value of the currency. The ISO 4217 code is ssl and is abbreviated to leon because li is placed before the sum.
Due to inflation, a 20,000 leon banknote has been suggested. As of 23 October 2018, 20,000 leone is approximately equal to 2.09 EUR. As of January 2022, 20,000 leone is equivalent to approximately 1.56 EUR.
In addition, Leone was introduced on 4 August 1964. It replaced the British West African pound at the rate of 1 pound = 2 leone.
- Symbol: Le
- Value: US$1 = 12,314 SLL
04. Indonesian Rupiahs (1 USD = 14,387 IDR)
The Rupiah is the official currency of Indonesia. Issued and controlled by Bank Indonesia, its ISO 4217 currency code is IDR. The Indonesian rupiah is the fourth weakest circulating currency in the world as of April 2022, with one United States Dollar equaling Rp 14,387.
The name “Rupaya” is derived from the Sanskrit words silver, rupayakam. Sometimes, Indonesians also informally use the term “perak” to refer to the rupiah in coins. The rupiah is subdivided into 100 sen, although high inflation has made all coins and banknotes denominations in sen obsolete.
- Symbol: Rp
- Value: US$1 = 14,387 IDR
03. Vietnamese Dongs (1 USD = 23,010 VND)
The dong has been the official currency of Vietnam since 3 May 1978. It is the third weakest currency in the world in 2022. It is issued by the State Bank of Vietnam. The dong was also the currency of the predecessor states of North Vietnam and South Vietnam, which replaced the previously used French Indochinese piastre.
The Vietnamese dong is increasingly moving towards using banknotes exclusively – As of 2012 the use of the coins has greatly decreased, and since 2014 the coins are not generally accepted at retail, but will still be accepted at some banks.
The Vietnamese dong is currently the third weakest circulating currency as of April 2022, with one United States dollar being equal to 23,010 dong.
- Symbol: ₫/đ U+20AB ₫ DONG SIGN
- Value: US$1 = 23,010 VND
02. Iranian Rial (1 USD = 42,025 IRR)
The Rial is the official currency of Iran. The Iranian Rial is currently the second weakest circulating currency in the world as of April 2022, with one United States Dollar being equal to 42,025 Iranian Rial.
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. The Unicode Standard has a compatibility character defined U+FDFC ﷼ RIAL SIGN (HTML ﷼).
The proposal to leave four zeros has been agreed upon by the Iranian parliament. By replacing the rial with a new currency, called the toman, the name of a previous Iranian currency, at the rate of one toman = 10,000 riyals. This change is expected to happen between 2020 and 2022.
- Symbol: ﷼
- Value: US$1 = 42,025 IRR
01. Venezuelan Bolívares (1 USD = 443,195 VES)
The bolivar is currently the lowest circulating currency in the world by 2022. In this, 1 United States Dollar has been converted into approximately 443,195 bolivars as of April 2022.
The Bolivar Soberano has been the official currency of Venezuela since 20 August 2018. Bolivar Soberano replaced Bolivar Fuerte after a transition period. The primary reason for the replacement was hyperinflation, at a rate of 1 Bs.S to 100,000 Bs.F.
On 1 January 2008, due to inflation, the Bolivar Fuerte itself was replaced, the original Bolivar having been introduced in 1879. It did so at a rate of 1 bs.f to 1000 bs.
- Symbol: Bs.S, Bs.
- Value: US$1 = Bs.S 443,195
Quick recap of the Top 10 Lowest Currencies in the World in 2022
- 01. Venezuelan Bolívares (1 USD = 443,195 VES)
- 02. Iranian Rial (1 USD = 42,025 IRR)
- 03. Vietnamese Dongs (1 USD = 23,010 VND)
- 04. Indonesian Rupiahs (1 USD = 14,387 IDR)
- 05. Sierra Leonean Leones (1 USD = 12,314 SLL)
- 06. Lao Kips (1 USD = 12,006 LAK)
- 07. Uzbekistani Sums (1 USD = 11,274 UZS)
- 08. Guinean Francs (1 USD = 8,764 GNF)
- 09. Paraguayan Guarani (1 USD = 6,848 PYG)
- 10. Cambodian Riels (1 USD = 4,033 KHR)