In the global financial landscape, currency values fluctuate due to various factors, including economic stability, inflation rates, and political conditions. As we look into 2024, several currencies have depreciated significantly, making them some of the weakest in the world. Here is a detailed look at the weakest currency in 2024.
The term “weakest currency” refers to a national currency that has a very low value compared to other currencies in the global market. This weakness is often due to factors such as high inflation, economic instability, political unrest, and poor economic policies. A weak currency means that it has low purchasing power internationally, making imports expensive and reducing the currency’s attractiveness for foreign investment.
In 2024, the Iranian Rial stands as the world’s weakest currency, with 1 Indian Rupee equaling 506.76 IRR. This depreciation is primarily due to ongoing political unrest, past conflicts like the Iran-Iraq war, and concerns surrounding the country’s nuclear program. These factors have contributed to the Rial’s significant devaluation, making it the least valuable currency globally.
Iranian Rial (IRR) with 1 INR equaling 506.76 IRR, stands as the weakest currency in the world 2024, followed by Vietnamese Dong, Laotian Kip and Sierra Leonean Leone.
Here is the list of top-10 weakest currencies in the world 2024:
| Top-10 Weakest Currencies in the World 2024 | |||
| Rank | Currency | 1 INR Value | 1 USD Value |
| 1. | Iranian Rial (IRR) | 506.76 | 42037.50 |
| 2. | Vietnamese Dong (VND) | 295.77 | 24535.00 |
| 3. | Loa/ Laotian Kip (LAK) | 251.22 | 20839.52 |
| 4. | Sierra Leonean Leone (SLL) | 238.09 | 19750 |
| 5. | Indonesian Rupiah (IDR) | 188.48 | 15635 |
| 6. | Uzbekistan Som (UZS) | 150.37 | 12473.99 |
| 7. | Guinean Franc (GNF) | 103.49 | 8584.75 |
| 8. | Paraguayan Guarani (PYG) | 87.92 | 7293.68 |
| 9. | Ugandan Shilling (USH) | 46.75 | 3878.05 |
| 10. | Iraqi Dinar (IQD) | 15.77 | 1308.35 |
Iranian Rial (IRR) with 1 INR equaling 506.76 IRR, stands as the weakest currency in the world.
Vietnamese Dond with 1INR equaling to 295.77 VND, stands as the second weakest currency in the world.
The top-5 weakest currencies in the world are: Iranian Rial (IRR), Vietnamese Dong (VND), Loa/ Laotian Kip (LAK), Sierra Leonean Leone (SLL) and Indonesian Rupiah (IDR).
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