Global Currency Landscape: Which Countries Have the World's Lowest-Value Currencies in 2024?

The lowest currency in the world often reflects deeper economic struggles beyond simple market fluctuations. As of 2024, examining exchange rates against the US dollar reveals a striking disparity across nations, with some currencies requiring hundreds of thousands of units to equal just one dollar.

The Extreme End: Countries Facing Severe Currency Collapse

The most dramatic devaluations tell stories of economic crisis. Venezuela’s Bolivar stands as the most extreme case, with 1 USD equivalent to approximately 4,000,815 VES. Similarly, Iran’s Rial trades at roughly 514,000 IRR per dollar, reflecting years of sanctions and inflationary pressure. These represent not merely weak currencies but indicators of systemic economic breakdown.

Syrian Pound follows with approximately 15,000 SYP per USD, while Iraq’s Dinar requires about 1,310 units. These Middle Eastern examples underscore how geopolitical instability directly impacts currency valuation and purchasing power.

Southeast Asian Markets: The Middle Tier of Depreciation

Southeast Asia presents an interesting case study of moderately weakened currencies. Laos stands at 17,692 LAK per dollar, while Cambodia’s Riel trades around 4,086 KHR. Indonesia’s Rupiah, representing one of the region’s larger economies, sits at approximately 14,985 IDR per USD. Vietnam’s Dong, with 24,000 VND per dollar, demonstrates that even relatively stable emerging markets experience significant currency depreciation against the greenback.

African Nations: Widespread Currency Pressure

Africa hosts numerous entries in the lowest currency rankings. Sierra Leone’s Leone requires 17,665 units per dollar, while Tanzania’s Shilling trades at roughly 2,498 TZS. Madagascar’s Ariary (4,400 MGA), Uganda’s Shilling (3,806 UGX), and Zambia’s Kwacha (20.5 ZMW) further illustrate continent-wide pressure on local currencies.

Nigeria’s Naira has devalued to approximately 775 NGN per dollar, while Kenya’s Shilling stands at 148 KES, reflecting the complex interplay of commodity prices, capital flows, and structural economic challenges across the continent.

South Asian and Central Asian Dynamics

The world’s lowest currency valuations in South Asia include Pakistan’s Rupee at 290 PKR per dollar and Sri Lanka’s Rupee at 320 LKR. Bangladesh’s Taka trades around 110 BDT, while Nepal’s Rupee sits near 132 NPR per dollar.

Central Asia shows similar patterns, with Uzbekistan’s Som at 11,420 UZS and Tajikistan’s Somoni at approximately 11 TJS per dollar. Kazakhstan’s Tenge remains relatively more stable at 470 KZT per USD.

Latin American Challenges

Paraguay’s Guarani (7,241 PYG) and Colombia’s Peso (3,915 COP) reflect regional economic pressures. Suriname’s Dollar trades at 37 SRD per USD, while Haiti’s Gourde has depreciated to approximately 131 HTG. Nicaragua’s Cordoba reaches 36.5 NIO, highlighting persistent currency weakness across the hemisphere.

Common Threads Across Weakest Currencies

Countries with the lowest currency valuations typically share common characteristics: elevated inflation rates, limited foreign exchange reserves, political instability, or dependency on commodity exports. Structural economic issues rather than isolated incidents drive sustained currency depreciation.

Understanding these global currency dynamics remains essential for investors tracking international financial health. The persistence of weak currencies in specific regions underscores the interconnection between macroeconomic policy, geopolitical factors, and currency markets throughout 2024.