Top 10 cheapest currencies in the World

1. Iranian Riyal or Rial – Iran

           
       Iranian Riyal is the official currency of Iran and the currency code is IRR. Even by the end of December, 2018, it is still the Iranian Riyal that is considered as the most weak and cheapest currency in the world. 42, 105 Iranian Riyals are equal to 1 US Dollar. One of the main reasons for damage of the economic conditions of Iran is the sanctions imposed on it. In just the last five years, the Iranian Riyal has lost its value to 100 percent. The maximum currency ,available in IRR is 1,00,000 and that is equal to just 2. 38 US dollars.

2. Vietnamese Dong – Vietnam

               Vietnamese Dong is the official currency of Vietnam and the currency code is VND. This currency holds the second place among the weakest currencies in the world. 23,428 Vietnamese Dongs are equal to 1 US Dollar. It was the Vietnam War that destroyed the economy of this country. Most of the people must be aware of this war and this was a great victory to defeat the superpowers. The maximum currency note available in VND is 5,00,000 and that is equal to just 21. 34 US dollars.

3. Indonesian Rupiah – Indonesia

               Indonesian Rupiah is the official currency of Indonesia and the currency code is IDR. 14,303 Indonesian Rupiah are equal to 1 US Dollar and this holds the third place in the cheapest currencies in the world. Most of the people in this country are Muslims and 12,000 US Dollars is the per capita income per annum, which is the best among all the countries listed here. The maximum currency available in IDR is 1,00,000 and that is equal to just 6.99 US dollars.

4. Guinean Franc – Republic of Guinea

                When talking about the cheapest currencies in the world, you cannot miss Guinean Franc. Guinean Franc is the official currency of the Republic of Guinea and the currency code is GNF. This currency holds the fourth place among the weakest currencies in the world. 9,138  are equal to 1 US Dollar. There is a lot of corruption and political instability in the country since 1958 and that is when they got independence from France. The maximum currency available in GNF is 20,000 and that is equal to just 2.19 US dollars.

5. Sierra Leonean Leone – Sierra Leone

                 Sierra Leonean Leone is one among the top 5 cheapest currencies in the world as on December, 2018. Sierra Leonean Leone is the official currency of Sierra Leone and the currency code is SLL. 8,350 Sierra Leonean Leones are equal to 1 US Dollar and this holds the fifth place in the cheapest currencies in the world. This is a country that exports Diamonds to many parts of the world, but is still one of the poorest countries in the world. 1,500 USD is the per capita income in this country and that is pretty low. The maximum currency available in SLL is 10,000 and that is equal to just 1.2 US dollars.

6. Laotian Kip – Laos

                       Next in the list of the cheapest currencies, you have the Laotian Kip. Laotian Kip is the official currency of the Laos, since 1952. The currency code of Laotian Kip is LAK and is sixth in the list. 8,583 Laotian Kips is equal to 1 US Dollar. In 1997, the financial crisis and inflation occurred in Asia and that is the main reason for the economic crisis in Laos. The maximum currency available in LAK is 1,00,000 and that is equal to just 11.65 US dollars.

7. Uzbekistani Som - Uzbekistan

                 Uzbekistani Somis the official currency of Uzbekistan and the currency code is UZS. It is considered as one of the most weak and cheapest currency in the world today. 8,339 Uzbekistani Somare equal to 1 US Dollar. In just the last five years, the Uzbekistani Somhas lost its value to 275 percent. The maximum currency note available in UZS is 50,000 and that is equal to just 6.00 US dollars.

8. Paraguayan Guarani – The Republic of Paraguay

              Paraguayan Guaraniis the official currency of the Republic of Paraguay and the currency code is PYG. One of the top 10 cheapest currencies in the world and it stands in the eighth place for this December, 2018. 5,971 Paraguayan Guaranis is equal to 1 US dollar. Trademark corruption and the black market are the most common reasons for the decline in the financial condition of this country. The maximum currency note available in PYG is 1,00,000 and that is equal to just 16.75 US dollars.

9. Cambodian Riel – Cambodia

              Cambodian Rielis the official currency of Cambodia and the currency code is KHR. Another cheapest currency in the world is Cambodian Riel and 4,050 Cambodian Riels are equal to 1 US Dollar. Police and the Judiciary of Cambodia are spoiled due to the corruption and that is one of the main reasons for the declined economic condition in Cambodia. Per Capita income per annum is 4,000 USD. The maximum currency note available in KHR is 1,00,000 and that is equal to just 24.69 US dollars.

10. Ugandan Shilling – The Republic of Uganda

               Ugandan Shillingis the official currency of the Republic of Uganda and the currency code is UGX. 3,739 Ugandan Shillings are equal to 1 US Dollar and stands in the tenth place among the top 10 cheapest currencies in the world. This country is known as one of the poor countries in the world, where the per capita income per annum is 2,400 USD and the main source of income is the import and export of tea and coffee. The maximum currency note available in KHR is 50,000 and that is equal to just 13.38 US dollars.