Eight Nations with the Cheapest Currency Rates
So what are the eight Nations with the Cheapest Currency Rates in the World?
The value of a currency shows how much power that particular currency has when compared to major exchange currencies such as the US dollar. The Zimbabwean dollar is the least valuable currency with 1 USD going for ZWR 300,000,000,000,000, and the country opted to use the South African Rand and cancel their own currency. Below is a comprehensive list of the eight least valuable currencies across the globe.
The Paraguayan Guarani
The Guarani is the official currency of the state Paraguay. The currency was issued in 1944 and it replaced the peso, which is issued by the National Bank of Paraguay known as Banco Central del Paraguay. The banknotes were introduced in 1943, whereas the coins were introduced in 1944. Currently, one Paraguayan Guarani equals 0.00017 US Dollars, making it one of the least traded currencies in the international market.
The Guinean Franc
The Guinean Franc is the official currency of the Republic of Guinea. The first Francs was issued in 1956 in the form of a coin, and this replaced the CFA Franc with a series of 25, 10, 5, and 1 denominations. In 1958 the nation’s monetary authority issued banknotes in the denominations of 50, 100, 500, 1000, 50000, and 10000 denominations. At the present, 1 Guinean Franc equals 0.00011 US Dollar.
The Lao Kip
The Kip is the official currency of the Lao. After the French army lost control of the Lao, the government introduced the Kip to replace the French Indochinese piastre. The highest denomination for the Lao Kip is 10,000. Presently, 1 Laotian Kip equals 0.00012 US Dollar.
The Belarusian Ruble
The Belarusian ruble is the official currency of Belarus, and the nation issued its first banknotes in 1992 while the coins were introduced in 1996. The highest denomination of the Belarus banknote is 5,000,000. Currently, one Belarusian Ruble equals 0.51 US Dollar.
The Indonesian Rupiah
The Rupiah is official currency of the republic of Indonesia. The currency comes in forms of Rupiah coins of 1000 to 50, and banknotes of 100,000 to 1000. One US dollar exchanges for one Indonesian Rupiah. At the moment, 1 Indonesian Rupiah equals 0.000074 US Dollar.
The São Tomé and Príncipe Dobra
The Dobra is the official currency of São Tomé and Príncipe. São Tomé and Príncipe are small islands in parts of Africa with a square area of 1001km/SQ. The Islands got their freedom from Portugal, and after two years the nation introduced the coins in the denominations of 1, 2, 5, 10, and 25 Dobras, and banknote denominations were also produced in the same year. Presently, 1 STD is equal to 0.0000422833 USD.
The Vietnamese Dong
The Dong is the official Vietnamese currency, and it was introduced in 1946 to replace the French Indochinese Piastre. The first banknotes were issued in 1976, and at its introduction, the Dong had very little value. Currently, 1 Vietnamese Dong equals 0.000044 US Dollar.
The Iranian Rial
The Rial is the official currency of the republic of Iran. Despite huge oil and gas deposits, the country has one of the least valuable currencies because of the long-term political instability and imposed sanctions, which have limited the nation’s ability and capacity to sell oil to the rest of the world or import commodities. At the moment, 1 Iranian Rial equals 0.000031 US Dollar.