6. Laotian Kip with the currency code of LAK is the official currency of Laos since 1952. It is considered one of the top 10 weakest currencies in the world as 1 USD on October 2018 can be exchanged with 8,515 Lao Kips.
Inflation and the Financial Crisis that occurred in Asia in 1997 are the main reasons for the decline of the country’s economy. The highest denomination currency note of Laotian Kip issued by the Bank of the Lao P.D.R. is 100,000 LAK which is equivalent to 11.74 USD.
5. Sierra Leonean Leone with the currency code SLL is the official currency of Sierra Leone. The long civil war is the main cause of the decline of the economy. It is considered one of the top 5 weakest currencies in the world as 1 USD on October 2018 can be exchanged with 8,400 SLL
Although the country exports diamonds to the entire world, still it is one of the poorest countries in the world where per capita income is as low as USD 1,500 per annum. The highest denomination currency note issued by the Bank of Sierra Leone 10,000 Leone which equals to USD 1.19.
4. Guinean Franc with the currency code GNF is the official currency of the Republic of Guinea. It cannot be missed while recording the weakest currencies of the world as on October 2018, 1 USD can be exchanged with 9,105 Guinean Francs.
Guinea got independence from France in the year 1958 and from that day onwards the country is facing political instability and corruption. The Guinean Franc has devalued by around 30% in the preceding 5 years. The highest denomination currency note issued by the Central Bank of the Republic of Guinea is 20,000 GNF which is equivalent to 2.20 USD.
3. Indonesian Rupiah with the currency code IDR is the official currency of Indonesia. It is the 3rd weakest currency in the world as of October 2018. 1 USD can be exchanged with 15,045 IDR.
Indonesia is the country with the highest Muslim population and the per capita income of Indonesia is USD 12,000 per annum which is better than many other countries in this list. The highest denomination note issued by the Bank of Indonesia is 100,000 Rupiah which can be exchanged with USD 6.65.
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Tag: Blog , Information , Weakest Currencies