A “poor world currency” refers to a currency that has a low value compared to other currencies on the international exchange market. These currencies are often associated with countries that have lower economic development, weaker financial systems, and lower standards of living. A poor world currency may have a low exchange rate relative to major global currencies, making it difficult for the people in that country to purchase goods and services from other countries.
Factors that contribute to a currency being considered “poor” include high inflation rates, political instability, economic challenges, and lack of foreign investment. It’s important to note that a currency being considered poor does not necessarily reflect the overall well-being or potential of a country; rather, it is a reflection of its current economic and financial conditions.
In this report, OSUN DEFENDER has highlighted 10 poorest currencies in the world. Check below:
1. Iranian Rial (IRR): Economic sanctions, political instability, and a lack of foreign investment have contributed to the devaluation of the Iranian Rial.
2. Vietnamese Dong (VND): High inflation rates and limited convertibility on the international market have led to the depreciation of the Vietnamese Dong.
3. Indonesian Rupiah (IDR): Inflation, a large current account deficit, and external debt have affected the Indonesian Rupiah’s value.
4. Uzbekistani Som (UZS): A lack of economic diversification, limited foreign exchange reserves, and trade imbalances have impacted the value of the Uzbekistani Som.
5. Lao Kip (LAK): Limited economic development, a reliance on agriculture, and challenges in attracting foreign investment have contributed to the depreciation of the Lao Kip.
6. Guinean Franc (GNF): Economic instability, political uncertainty, and a heavy reliance on the agriculture sector have affected the Guinean Franc’s value.
7. Sierra Leonean Leone (SLL): Poverty, low levels of industrialization, and economic disruptions from factors like civil wars have contributed to the low value of the Sierra Leonean Leone.
8. Paraguayan Guarani (PYG): Economic vulnerabilities, including inflation and a reliance on agricultural exports, have impacted the Paraguayan Guarani’s value.
9. Cambodian Riel (KHR): Limited economic diversification, low labor productivity, and a history of political instability have affected the Cambodian Riel’s value.
10. Moldovan Leu (MDL): Political uncertainty, corruption, and a lack of economic reforms have contributed to the depreciation of the Moldovan Leu.
