3 among the world’s weakest currencies, with 1 kip buying 0.000057 dollar (or $1 equals 17,692 Lao kip). Vietnam now is one of the most dynamic emerging countries in East Asia region.” 3. Vietnam’s currency has been undermined by a bad real estate market, restrictions on foreign investment and a recent slowdown in export activity.ĭespite any shortcomings, the World Bank says Vietnam has been transforming “from one of the poorest in the world into a lower middle-income country. The Vietnamese dong is the second-weakest currency in the world, with 1 dong buying 0.000043 dollar (or $1 equals 23,485 Vietnamese dong). “Risks to Iran’s economic outlook remain significant,” the World Bank concludes. Political unrest and an annual inflation rate that has been topping 40% are additional factors contributing to currency and economic weakness in Iran. reimposed in 2018 and others the European Union has repeatedly imposed. Iran’s currency has been squeezed by economic sanctions, including those the U.S. The Iranian rial is the weakest currency in the world, with 1 rial buying a mere 0.000024 dollar (or, put another way, $1 equals 42,300 Iranian rials). The exchange rates are sourced from our currency converter, based on data from Open Exchange and are accurate as of May 26, 2023. We start with the currency with the lowest value relative to the dollar. dollars that will buy one unit of each currency. Here are today’s 10 weakest international currencies, based on the amount of U.S. What Are the World’s Top 10 Weakest Currencies? How does that work? Check out our guide explaining the basics of foreign exchange movements. because the rupee will buy fewer dollars at a foreign currency exchange.įluctuating exchange rates give investors opportunities to profit from trading in foreign currencies. But it becomes pricier for people from India to visit the U.S. When, say, the dollar strengthens against India’s rupee, American travelers to India can get more rupees for their dollars and effectively score cheaper vacations to see Mumbai or the Taj Mahal. But some currencies are “pegged”: Their value against another currency, like the dollar, holds steady at an agreed-upon rate.Įxchange rates affect the cost of goods and services from one country to another. The majority of currencies are “floating,” meaning their value moves around in response to supply and demand factors. This trading puts a price on one currency relative to another, and that price is called the exchange rate. So, for example, you swap-more accurately, buy-U.S. Via CurrencyFair's Website How Is Foreign Currency Priced?
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