The following currencies are the weakest in value in the month of october
Iranian Riyal: Iran has the weakest currency rate in the world as compared with US Dollar. Iranian Riyal is shortly written as IRR and the highest denomination currency note of Iranian Riyal is 100,000 which is equivalent to 3.18 USD. These days one US Dollar is equal to31,460 Irani Riyals. People of other countries think that they are having a weak currency rate because one US Dollar equals tens or hundreds of their currency notes but Iranians are top on the list of having weakest currency as US Dollar equals to thousands of their currency notes. The sanctions imposed on Iran have damaged its economic condition they are also the major reason of downfall of Irani Currency as well. The banking system of Iran is totally cut off from the global system of banking. The sanctions include a ban on trade of Irani oil as well, resultantly Iran is either unable to sell the black gold to other countries or if someone is willing to trade, Iran is not in a position to demand suitable rates for its asset. Situation becomes more critical when those who try to trade and deal with the central bank of Iran have to face threats from USA. These sanctions have damaged the personal lives of Irani citizens at large.
São Tomé & Príncipe Dobra:Dobra ranks at number 2 among the weakest currencies of the world. It is the currency of Democratic Republic of São Tomé and Príncipe, shortly written as STD. One US Dollar is equal to21,794 STD. The economy is based on imports. The highest denomination currency note of Dobra is 100,000 which is equivalent to4.59 USD.
Vietnam Dong: Dong ranks at number 3 among the weakest currencies of the world. Almost every one of the generation living in their 30’s knows well about the famous war of Vietnam. That war was a defeat for the super powers but it ruined the economy of Vietnam at large. At the moment 1 US Dollar equals 22,452 Dongs. The situation gets much interesting when it is discussed with a resident of Vietnam and instead of being worried about the downfall of currency a rather unique comparison is made. The argument is that a good breakfast costs 30,000 VND on an average and when converted this cost is less than 2 Dollars and again, 2 Dollar is not enough money even to buy a Muffin in USA. The highest denomination currency note of Dong is 500,000 which is equivalent to 22.27 USD.
Paraguayan Guarani: Gaurani ranks at number 8 among the weakest currencies of the world. Guarani is the currency of the Republic of Paraguay. 5,572 units of Guarani equal One US Dollar. Inflation, a large and mostly uncontrollable black market, and trade mark of Corruption are the main causes of this much decline of the economy. The highest denomination currency note of Paraguayan Guarani is 100,000 which is equivalent to 17.95 USD.
Sierra Leonean Leone: Leone ranks at number 9 among the weakest currencies of the world. Official currency of Sierra Leone is Leone, one of the weakest currencies. 1$ is equal to 5,645 Leones. The long civil war is the main cause of decline of economy. It is a great loss that cannot be repaired by the money received in exchange of export of diamonds. The highest denomination currency note of Sierra Leonean Leone is 10,000 which is equivalent to 1.77 USD.
Cambodian Riel: Riel ranks at number 10 among the weakest currencies of the world. Kingdom of Cambodia is having its official currency as Riel. It is also a trade mark of weakest currency of present time as well as of past.One US Dollar is equal to 4,116 Riel. Cambodia is one of the countries highly affected by corruption. Corruption has ruined important institutions of state such as Judiciary and Police. Obtaining license for a new business or dealing with violations alleged by police and getting a verdict from court, everything needs under table money or undue influence. These are the root causes who damaged the economy. The highest denomination currency note of Cambodian Riel is 100,000 which is equivalent to 24.29 USD.
Malagasy Ariary: The Malagasy Ariary is the official currency of Madagaskar. The Malagasy Ariary was introduced in the year 2005. It is a very weak currency as you can exchange 3,090 Malagasy Ariary with 1 USD. The highest denomination currency note of The Malagasy Ariary is 10,000 The Malagasy Ariary which is equivalent to 3.24 USD.
Ugandan Shilling: Shilling ranks at number 11 among the weakest currencies of the world. Currency of the Republic of Uganda is shilling. It is one of the weakest currencies of world. One US Dollar equals 3,367 shillings approximately. Uganda’s economy is mainly based on imports of Coffee and Tea. Despite many obstacles and regional wars Uganda’s economy is a growing economy and the economic situation is getting better. The highest denomination currency note of Ugandan Shilling is 50,000 which is equivalent to 14.85 USD.