10 Weakest Currencies: 2023 Global Ranking

Aug 26, 2023, 03:55 PM IST

10 Weakest Currencies: 2023 Global Ranking

Heena Sharma

Let’s see which currencies  in the world are the cheapest  compared to Indian rupees,  and can make you feel rich. 

1. Iranian Rial (IRR) 

1 INR = 508.53 IRR. Due to political unrest, the Iran-Iraq war, and the nuclear programme, the Iranian Rial is the least valuable.  

2. Vietnamese Dong (VND) 

1 INR = 286.53 VND. Vietnam is trying to transition from centralised to a market economy but it is still an ongoing process. 

3. Sierra Leonean Leone (SLL) 

1 INR = 237.59 SLL. Severe poverty, scandals, corruption, and wars have put the economy in peril and caused SLL to decline. 

4. Lao/Laotian Kip (LAK) 

1 INR = 232.94 LAK. Lao value has gradually increased since its 1952 establishment. 

5. Indonesian Rupiah (IDR) 

1 INR = 184.40 IDR. IDR’s depreciation is due to declining reserves, central bank issues, and commodity export reliance. 

6. Uzbekistani Som (UZS) 

1 INR = 145.06 UZS. Weak economy and decline in industrial output have affected the value of UZS. 

7. Guinean Franc (GNF) 

1 INR = 103.20 GNF. Widespread corruption and political unrest have weakened GNF year after year. 

8. Paraguayan Guarani (PYG) 

1 INR = 87.21 PYG. Economic collapse, inflation, and corruption have left a negative imoact on PYG’s value. 

9. Ugandan Shilling (USH) 

1 INR = 44.86 USH. Under Idi Amin, USH’s value dropped, however, the currency value has seen a recent slight recovery. 

10. Iraqi Dinar (IQD) 

1 INR = 15.73 IQD. Inflation, political unrest are said to have contributed to a low IQD exchange rate.