Ten Countries With The Lowest Currency

Discussions on businesses and entrepreneurship: news, starting tips, ideas, challenges, proposals, plans
Comment
User avatar
Walcott
Senior
 

September 1st, 2020, 12:37 am

Iranian Rial
Country of issuance – Iran
Currency code – IRR
Value against USD – 1 USD = 41994 IRR;
Black market rate: 1 USD = 112000 IRR
Value against INR -1 INR = 611.47 IRR
Banknote denominations – 100, 200, 500,
1000, 2000, 100000
Coin denominations – 50, 100, 250, 500,
1000, 2000, 5000
2. Vietnamese Dong
Country of issuance – Vietnam
Currency code – VND
Value against USD – 1 USD = 23194 VND
Value against INR – 1 INR = 337.23 VND
Banknote denominations – 500, 1000, 2000,
5000, 10000, 20000, 50000, 100000,
200000, 500000
Coin denominations – 200, 500, 1000, 2000,
5000
3. Indonesian Rupiah
Country of issuance – Indonesia
Currency code – IDR
Value against USD -1 USD = 14237 IDR
Value against INR – 1 INR = 202.53 IDR
Banknote denominations – 2000, 5000,
10000, 20000, 50000, 100000
Coin denominations – 50, 100, 200, 500,
1000
4. Guinean Franc
Country of issuance – Guinea
Currency code – GNF
Value against USD – 1 USD = 9198 GNF
Value against INR – 132.29
Banknote denominations – 25, 50, 100, 500,
1000, 5000, 10000
Coin denominations – 1, 5, 10, 25, 50
5. Lao or Laotian Kip
Country of issuance – Laos
Currency code – LAK
Value against USD – 1 USD = 8550 LAK
Value against INR – 1 INR = 126.70
Banknote denominations – 500, 1000, 2000,
10000, 20000, 50000, 100000
6. Sierra Leonean Leone
Country of issuance – Sierra Leone
Currency code – SLL
Value against USD – 1 USD = 8446 SLL
Value against INR – 1 INR = 130.66
Banknote denominations – 1000, 2000,
5000, 10000
Coin denominations – 10, 50, 100, 500
7. Uzbekistani Som
Country of issuance – Uzbekistan
Currency code – UZS
Value against USD – 1 USD = 8336 UZS
Value against INR – 1 INR = 124.32 UZS
Banknote denomination – 100, 200, 500,
1000, 5000, 10000, 50000, 100000
Coin denomination – 1, 5, 10
8. Paraguayan Guarani
Country of issuance – Paraguay
Currency code – PYG
Value against USD – 1 USD = 5953 USD
Value against INR – 1 INR = 86.68
Banknote denomination – 2000, 5000,
10000, 20000, 50000, 100000
Coin denomination – 50, 100, 500, 1000
9. Cambodian Riel
Country of issuance – Cambodia
Currency code – KHR
Value against USD – 1 USD = 4016 USD
Value against INR – 1 INR = 59.17 KHR
Banknote denominations – 50, 100, 500,
1000, 2000, 5000, 10000, 20000, 50000,
100000
10. Ugandan Shilling
Country of issuance – Uganda
Currency code – UGX
Value against USD – 1 USD = 3714 UGX
Value against INR – 1 INR = 53,51
Banknote denominations – 1000, 2000,
5000, 10000, 20000, 50000
Coin denominations – 50, 100, 200, 500
Conclusion
It becomes increasingly difficult to arrive at
a specific order in ranking the least valuable
currency. This problem arises due to the
rapidly changing economic conditions of the
countries that issue it. In a majority of cases,
economic setbacks are the prime reason for
these to be listed as the cheapest currency
in the world. These setbacks lead to a
balance of payments deficit and growth of
the inflation rate. Economic setbacks can
occur due to decreasing GDP, war actions,
falling prices of major export goods, a
decrease in purchasing power, tightening of
credit conditions, and political instability.
The only way to control such devaluations is
by the formulation of an efficiently
organized monetary policy. An examination
of the decisions of fiscal controls can also
aid in bettering the value of the cheapest
currency in the world.

Please share...

User avatar
Truvel
Senior
 

April 4th, 2021, 3:28 pm

Na Which Number Naija Come Fall Put Na?
Comment
  • Information
  • Online

    Users browsing this section: No members and 0 guests