By Milcah Tanimu
Currency strength varies worldwide due to economic factors like inflation, debt, and foreign investment. Below is a list of the world’s weakest currencies in 2024, highlighting why they are valued low against the U.S. dollar:
1. Iranian Rial (IRR) – Impacted by sanctions, with USD 1 equaling IRR 42,000.
2. Vietnamese Dong (VND) – Despite growth, high supply keeps it low at VND 23,000 per dollar.
3.Indonesian Rupiah (IDR) – Faces inflation challenges, currently at IDR 15,000 per dollar.
4. Sierra Leonean Leone (SLL) – Inflation and instability set it at SLL 21,000 per dollar.
5. Uzbekistani Som (UZS) – Despite reforms, USD 1 trades for UZS 11,000.
6. Guinean Franc (GNF) – Limited foreign investment keeps it low at GNF 8,500 per dollar.
7. Lao Kip (LAK) – Low exports and investment value it at LAK 17,000 per dollar.
8. Paraguayan Guarani (PYG) – Heavily reliant on agriculture, at PYG 7,400 per dollar.
9. Cambodian Riel (KHR)– Trading at KHR 4,000 per dollar despite some growth.
10. Ugandan Shilling (UGX) – Economic challenges keep it at UGX 3,700 per dollar.
These currencies reflect how global economic factors, including inflation
