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Currency is a legal medium of exchange in conducting transactions in a country, each country has its own currency. However, the currency is not free to use in other countries. Because each country has a different exchange rate, it can also be said that the value of the country’s currency is classified as low or high.
The background factors for a world currency to have a low or high exchange rate are influenced by political conditions, economic growth, natural resources, and historical value.
Reporting from detikcom, the Kuwaiti dinar is the highest currency in the world in 2023. Even though the US dollar is the most traded and strongest currency in the world, it is not the most expensive currency. Because of that many currencies use the US dollar as a reference in determining the high and low exchange rates of their respective currencies.
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So which countries, including world currencies, have low exchange rates? The following is a list of 10 countries with the lowest currency in the world.
The lowest Indonesian currency at what level?
World currencies that are classified as low are still occupied by countries in Asia. On the Asian Continent, the country that has the lowest world currency is still occupied by Iran, with the Iranian Rial (IRR) currency.
While Indonesia is ranked sixth in the world, where the value of 1 Rupiah is equivalent to 0.000065 US Dollars, while 1 US Dollar is 15298.10 Rupiah. This data is taken as of Friday, August 25, 2023.
one hundred dollars bank note of new zealand/ Foto: Getty Images/iStockphoto/suriya silsaksom
10 Countries with the Lowest Currency in the World
Apart from the Iranian Rial and Indonesian Rupiah, here are the 10 lowest currencies in the world:
1. Bolivar Venezuela
The lowest currency exchange rate in the world comes from the South American Continent, where the value of 1 Venezuelan Bolivar (VEF) is 0.000003811 US Dollars. Meanwhile, 1 US Dollar is equivalent to 262,408.1 Venezuelan Bolivars (VEF).
2. Rial Iran
Iran is a country originating from the Asian Continent, namely Iran with the Iranian Rial (IRR) currency. The value of 1 Iranian Rial (IRR) is 0.000024 and 1 US Dollar is equivalent to 42,275.00 Iranian Rial (IRR).
3. Dong Vietnam
The lowest currency in the world is the Vietnamese Dong (VND), the value of 1 Vietnamese Dong (VND) is 0.000042 or 1 US Dollar is equivalent to 24,005.00 Vietnamese Dong (VND).
4. Leone Sierra Leone
The country of Sierra Leone (SLL), has the lowest exchange rate in the world where the exchange rate for US$ (1 USD) is 19,750.00 SLL.
5. Chicken Laos
Laos (LAK), a country originating from the Asian Continent, has an exchange rate with US Dollars US$ (1 USD) equivalent to 19,606.72 LAK
6. Indonesian Rupiah
Indonesia has the lowest currency exchange rate in the world, 1 Indonesian Rupiah (IDR) is worth 0.000065 US Dollars or 1 US Dollar is equivalent to 15,298.10 Rupiah (IDR)
7. Some Uzbekistan
The fifth position is filled by the State of Uzbekistan, the exchange rate of the currency of the country of Uzbekistan is 1 Uzbekistan Sum (UZS) worth 0.000083 or the equivalent of 1 US Dollar worth 12,063.65 Uzbekistan Sum (UZS).
8. Guinea Franc
The lowest Guinean currency in the world, where 1 Guinean Franc (GNF) is worth 0.00012 US Dollars or the equivalent of 1 US Dollar is worth 8,584.91 Guinean Francs (GNF)
9. Guaranteed
The country of Paraguay (PYG) originates from the South American continent, has an exchange rate of US $ (1 USD) worth 7,283.78 PYG.
10. Cambodian Riel
The State of Cambodia (KHR) originates from the Asian Continent, has an exchange rate of US $ (1 USD) worth 4,151.44 KHR.
Those are the 10 countries with the lowest currencies in the world, many of which are the reason that the currencies in each country have exchange rates, both low and high, and every day these exchange rates can change. This adjusts to conditions in each country.
(Risdawati/he)
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