The exchange rates of the least valued currencies were updated as at July 2022, here are the weakest curated by real money online pokies Australia.
1 – Iranian Rial (~320,500 IRR/USD)
The cheapest currency in the world is the Iranian rial.the most worthless currency in the world is the Iranian rial.
Currency code – IRR.
Iranian rial rates:
1 USD = ~320,500 IRR (US dollar to Iranian rial – black market rate).
1 USD = 42,508 IRR (US dollar to Iranian rial – official rate).
1 EUR = ~321,700 IRR (Euro to Iranian rial – black market rate).
1 EUR = 42,612 IRR (Euro to Iranian rial).
The cheapest currency in the world is the Iranian Rial. Its devaluation started in 1979 after the Islamic Revolution when many businesses left the country because of the uncertain situation. Then came the Iran-Iraq War, and the economic sanctions because of the country’s nuclear program. The Iranian government also restricted access to foreign currency for their citizens, which led to the significant black market lift. All of this damaged economics and devalued the currency almost by 400%.
In 2015, the Iranian government agreed to sign the nuclear agreement with the U.S., France, UK, China, Russia, and Germany for the sanctions mitigation. It improved the situation and stabilized the local currency, and its credit card can be used to play games at online casinos US.
However, in 2018 the U.S. claimed that Iran proceeds its nuclear program. The sanctions were sharpened, restricting the country’s access to the world commodity markets. Iran could no longer export its petroleum, which brought about 69% of income annually. It created a critical deficit in its national budget. The sanctions also covered other industries, including petrochemistry and metallurgy.
2 – Vietnamese Dong (23,376 VND/USD)
The third weakest currency in the world is the Vietnamese Dong.The third weakest currency in the world is the Vietnamese Dong.
Currency code – VND.
Vietnamese Dong rates:
1 USD = 23,376 VND (US dollar to Vietnamese Dong).
1 EUR = 23,420 VND (Euro to Vietnamese Dong).
The second-cheapest currency in the world is the Vietnamese Dong. Vietnam is still on its hard path from a centralized economy to a market one, and consequently, this country’s currency is very devalued today. At the moment, the Dong takes the third place in our “poorest currencies” list.
However, experts insist that the Vietnamese government is going the right way and may soon catch up with its closer Asian neighbors.
3 – Lao or Laotian Kip (15,106 LAK/USD)
Lao kip.Lao kip.
Currency code – LAK.
Lao or Laotian Kip rates:
1 USD = 15,106 LAK (US dollar to Lao or Laotian Kip).
1 EUR = 15,134 LAK (Euro to Lao or Laotian Kip).
The Lao is the only currency on this list, which did not devalue but was originally issued with a very low rate. Besides, since its issue in 1952, the currency did strengthen against the US Dollar and continues to improve its value.
4 – Indonesian Rupiah (15,038 IDR/USD)
The fourth cheapest currency in the world is the Indonesian rupee.The fourth cheapest currency in the world is the Indonesian rupee.
Currency code – IDR.
Indonesian Rupiah rates:
1 USD = 15,038 IDR (US dollar to Indonesian Rupiah).
1 EUR = 15,070 IDR (Euro to Indonesian Rupiah).
Due to the low value of old-style banknotes, by presidential decree of September 5, 2016, 7 new banknotes were issued in denominations from 1 thousand to 100 thousand rupiahs. Indonesia is an economically stable and quite developed country in Southeast Asia. However, its money has a very low exchange rate. The country’s regulatory authorities are taking all measures to strengthen the national currency, but all their efforts led only to insignificant changes.
5 – Sierra Leonean Leone (13,314 SLL/USD)
Sierra Leone Leone – Top 5 Cheap Currencies.Sierra Leone Leone – Top 5 Cheap Currencies.
Currency code – SLL.
Sierra Leonean Leone rates:
1 USD = 13,314 SLL (US dollar to Sierra Leonean Leone).
1 EUR = 13,340 SLL (Euro to Sierra Leonean Leone).
Sierra Leone is a very poor African country, which handled out many serious tests that caused the local money to devalue. Recently, a war took place there, and the deadly Ebola virus is recurrent. In August 2021 the Bank of Sierra Leone has made a decision to redenominate the Sierra Leonean Leone. Old banknotes will be replaced with new ones called the New Leone with the rate of 1 New Leone to 1,000 old SLL.
