As you know, money is a specific, most liquid commodity, which, in turn, acts as a universal equivalent of the cost of other goods and services. There are about 180 currencies in the world today. These are monetary units with different purchasing power and different exchange rates.

Question: what is the cheapest currency in the world, we are more interested in it as a statistical indicator. That is, no matter how much this or that paper unit depreciates, in general, in any case, it will always be in a certain range in value.

However, if for some reason inflation of a currency occurs, then it is very likely that cheaper money will become much more valuable. At the same time, all this does not apply to the cheapest monetary unit in the world, since it itself is at the very end of the ranking.

A bit of history

It is easy to understand that money is a very volatile commodity, which, in turn, has been constantly changing throughout its existence, and up to the present day. At the same time, each editing of money concerned both the value and appearance of the currency, and their significance.

Finding out how and when money appeared will be useful to all people working in financial fields. This, in conclusion, will make it possible to understand what is the weakest monetary unit in the world.

1944

From the moment people began to actively print paper (and metal, but not from precious metals) money until 1944, the "gold standard" was used to value currencies. In 1944, in Bretton Wood (a resort town in the USA), the "gold standard" system resigned and was replaced by a new system that equated the US dollar to gold, which made American money an international means of payment.

In addition, on the basis of the Bretton Woods agreements, international financial institutions were established:

• IBRD - International Bank for Reconstruction and Development;
• IMF - International Monetary Fund.

These financial enterprises are successfully functioning today. What has changed is that these two institutions have become even more important for the world of finance, since in the modern world money solves literally any problem. We can say that it was the Bretton Woods agreements that formed the basis of the global financial market.

1978

In 1978, the second amendment to the Bretton Woods agreements was adopted, which legalized the regime of floating exchange rates. From now on, rates are formed exclusively by the market and are not directly linked to gold or any other means of payment.

Of course, when assessing the value of any monetary unit, the state's gold and foreign exchange reserves are taken into account.

The regime of floating rates somewhat complicated the calculation and, moreover, the forecasting of rates.

If you look at the financial condition of each individual state, especially the large countries of the world, it becomes clear that due to the domestic currency used, some countries have a smaller budget than others. At the same time, each monetary unit has its own rate of value, rising or falling against the US dollar due to some factors.

Today

To date, the situation with exchange rates in the world has not changed radically. In every civilized state, the entire budget has a unique value, respectively, to the dollar.

The only possible change is predicted to be in 2017, when a truly massive dollar crash will occur. In this regard, the value of other currencies, including the Russian ruble, will significantly increase.

It is extremely difficult to say for sure what will be the cheapest currency in the world at the moment. However, now you can easily find the top 10 cheapest currencies in the world on the Internet.

Rating - 10 cheapest

In order to understand what a particular monetary unit is, it is recommended that you familiarize yourself with the top 10 cheapest currencies from around the world. By the way, you should not be surprised that in this top you most likely will not find money that is widely known to you, for example, the ruble or the dollar, since these units have an increased value, unlike those presented.

• Rial;
• Dong;
• Dobra Sao Tome and Principe;
• Rupee;
• Ruble (Belarusian);
• Franc;
• Guarani;
• Tugrik;
• Shilling.

Each currency is tied to a specific state and has unique features, regardless of cost.

Getting acquainted with this top, do not forget that the cost of each named currency unit is extremely relative. That is, at the time you read the article, the value of a particular hard currency can change beyond recognition. And although it is almost impossible to increase the value of any money from this top, you should not translate it into an absolute.

Iranian rial (IRR)

It is strange to see a Middle Eastern currency on the list of the cheapest money in the world. Its neighbors are the monetary units of such states as:

• Kuwait;
• Bahrain.

These hard currency top the world list of expensive money. Iranian rial is the cheapest money. This is one of the most ancient monetary units on the planet.

Issued into circulation in 1798 as the national currency of Persia, since 1932 - the main money of Iran. The main reason for such low cost of the national hard currency is the fact that Iran makes all payments for exported oil in US dollars.

1 Russian ruble is worth 752 rials.

Vietnamese dong (VND)

The name itself in translation means "Copper". It was put into circulation in 1978, after the union of South and North Vietnam.

Today, 1 dong costs 0.0016 Russian rubles. For one ruble, you can buy 625 dong.

The average Russian pensioner is a Vietnamese millionaire. Such a value of the currency is explained, first of all, by the weakness of the Vietnamese economy, which has stabilized and begun to develop only in the last decade.

Dobra Sao Tome and Principe (STD)

This Central African country is a leading supplier of coconuts and coffee. The national currency was put into circulation in 1977.

Dobra rate = 0.00189 rubles, i.e. 1 ruble=529 STD

Indonesian rupiah (IDR)

Indonesia is the largest Muslim country. Bali has long been a favorite holiday destination for tourists from all over the world. Such a rapid development of the tourism business in Indonesia, not least, is due to the weakness of the national currency.

1 ruble = 340 rupees.

Laotian kip (LAK)

It was put into circulation in 1955.

1 ruble = 238 kip

Belarusian ruble (BYR)

It was put into circulation after the collapse of the Soviet Union and today is the cheapest currency of the republics of the former USSR. The Belarusian monetary unit is highly dependent on its "big brother" Russian ruble.

1 Russian ruble is equal to 300 Belarusian rubles.

Guinean franc (GNF).

Another "misunderstanding" is the list. The country produces diamonds, gold, and money is one of the cheapest in the world. As in the case of the Iranian currency, this is explained by the fact that the national hard currency is practically not used in international settlements.

Today, 1 Russian ruble is worth 204 Guinean francs.

Paraguayan Guarani (PIG)

Money of Paraguay is naturally on the list of the cheapest currencies in the world. Paraguay's economy has long been firmly in a state of depression. It has one of the highest levels of unemployment and poverty in the world.

1 Russian ruble is worth 125 guarani.

Mongolian Tugrik (MNT)

It translates as "circle" or "coin". In circulation since 1925.

Today the Russian ruble is worth 53 tugriks

Somali shilling (SOS)

It is symbolic that even the abbreviation of the Somali currency is associated with a maritime disaster. Long gone are the days when privateering significantly strengthened the economy of a piracy state.

The Somalis were several centuries late and therefore today their currency is cheap and extremely unstable.

The Russian ruble is worth up to 15 Somali shillings.

Conclusion

a cheap currency is typical for economies that do not show dynamic growth, moreover, they have some one pronounced specialization. For example:

• Iran is an oil producing (not even oil refining) industry;
• Indonesia - tourism.

Also, the low cost of the currency often indicates that this monetary unit is in little demand on the world market. This means that the foreign economic activity of such a country is served by the hard currency of another state. Most often it is the US dollar, which until recently was the only currency for paying for oil and oil products.

It is difficult to unequivocally answer the question of what should be the monetary unit - expensive or cheap. Even tracing a clear relationship between the value of a currency and the state of the economy is not easy. For example, the most dynamically and systematically developing economies are based on the hard currency of the middle price segment (that is, not the most expensive and not the cheapest). At the same time, the currencies of the two leaders in world oil exports are at opposite ends of the rankings:

• The Iranian rial is the cheapest monetary unit;
• The Kuwaiti dinar is the most expensive hard currency against the dollar.

Obviously, the value of money is not directly related to their reliability. And in order for the economy to develop dynamically and multi-vector, thereby insuring itself against crises, the currency must be stable and the financial policy of the state flexible.

Notes

Do not forget to get acquainted with modern exchange rates on your own, with the help of special services on the Internet.

Do not forget that the world has always been and will always be the cheapest money. However, the global financial situation is constantly changing, which is why already in this 2017 the rates of all currencies of the world can change radically, since according to the forecast, the dollar should soon collapse.

Although the cheapest currencies of the world in relation to the ruble are profitable, however, it will be possible to “cut money” strongly on this. In any case, everything comes down to dollars, in comparison with which, today, even the ruble is inexpensive.

Video

The exchange rate of the national currency of any state is of particular importance for determining its economic potential and level of development. That is why one of the main goals of the government is always to strengthen, stabilize and increase the exchange rate of the national currency.

According to the latest IMF data, the volume of the US dollar in the gold and foreign exchange reserves of the whole world is more than 60%. Today it is the most stable reserve currency. That is why almost all the exchange rate is determined precisely in relation to the dollar.

But it is not always possible to keep the course at the desired level. In some countries, the purchasing power of the monetary unit is falling so rapidly that people are forced to pay salaries every day so that they can at least buy something with this money, which will completely depreciate in a day.

There can be many reasons for inflation: political instability, military conflicts, wrong state policy. Many factors can contribute to the rapid fall of the national exchange rate, but the result of this will be unchanged.

Those countries whose currency can be bought inexpensively often live below the poverty line. Almost all of these countries are underdeveloped, with a deplorable state of social guarantees, the level of education and medical care. This once again confirms that the exchange rate is not just one of the formal factors, but a real indicator of the standard of living of the population.

The cheapest currency

As of 2017, the cheapest currency in the world is the Iranian rial. At the moment, its rate is 30366 rial for 1
U.S. dollar. However, the trend continues to be negative. Since 2002, inflation has been on the rise. Now the rial also continues to rapidly depreciate. The reason is the crisis state of the national economy. This is due to the fact that many sanctions have been imposed on Iran.

These sanctions were provoked by the fact that in 2002 the United States publicly accused Iran of being the main source of nuclear weapons and, as a result, a threat to the whole world. If we continue to cut the course at such a pace, it will lead to even more disastrous consequences. According to the general opinion of many experts, the world's poorest countries do pose a potential danger to developed countries. That is why so much money is often allocated to support their economy.

Based on the above data, it is easy to conclude that an equal sign can be safely drawn between the rating of cheap currencies and the poorest countries.

According to the latest data, the top 10 cheapest currencies in the world are headed by the Iranian rial, but the other 9 participants in the rating are not far gone. This list includes countries such as:

1. Dobra Sao Tome and Principe. The course is 21975 units for 1 dollar. Previously, this state was a colony of Portugal. The currency was artificially introduced into circulation specifically for this island country. But gradually the economy fell into decline due to climate problems. Now the country simply has nothing to pay its external debt, and they are forced to import all products and raw materials from other countries.
2. Vietnamese dong. 22423 units give for 1 dollar according to the latest data. The currency has existed since 1945. Due to numerous emissions, as well as a significant link to the Chinese economy, which is not interested in the rise of Vietnam, the currency is gradually depreciating and does not have positive exchange rate forecasts.
3. Belarusian ruble. Very often, its rate is tied to the Russian ruble. But if we express it in terms of the US dollar, then for 1 dollar they ask for almost 20 thousand Belarusian rubles. The reason is that it is a rather young currency, moreover, it is too tied to the Russian ruble - because of its fall, the Belarusian national currency is also losing ground.
4. Indonesian rupiah. The rate reaches 14 thousand monetary units for 1 US dollar. The country was never able to fully recover from the global Asian economic crisis. Also, many emissions had a negative impact on the exchange rate of the currency.
5. Laos Kip. More than 8,000 kip must be paid for 1 dollar. The rate is constantly falling at a rapid pace. For this reason, coins have long ceased to be issued completely, since they are valuable only for collectors, and as a monetary unit they are of no value. Their nominal value is much lower than the actual cost of issuance.
6. Guinean franc. Initially, it was an attempt to fully gain independence, abandoning the circulation of the regional currency. In fact, almost 8 thousand monetary units must be paid for the dollar.
7. Paraguayan Guaran. Almost 6 thousand per dollar. Many civil wars, a series of dictators who absolutely did not know how to conduct economic affairs have led to the fact that the country has long been below the poverty line. The reason for this was primarily military conflicts, political instability and widespread devastation.
8. Cambodian riel. Over 4 thousand units per dollar. If the dollar is exchanged for a local currency, then it is unlikely that it will be possible to convert it back. Rieli never became popular even among the locals. For a long time, they preferred to completely abandon money, using rice for settlements among themselves. Recently, Cambodians prefer to use American dollars, and riels serve only as a bargaining chip for dollars and euros. Inflation reaches such a terrible rate that the exchange rate can change drastically several times a day.
9. Colombian peso. More than 3 thousand pesos per dollar. The reason for such a high level of inflation is a protracted and serious financial crisis in the state. The peso gradually completely lost its gold and silver component. It is precisely because the peso is not backed by anything that it constantly loses its position. In fact, money has virtually no purchasing power.

Reading 6 min. Views 120 Published on 05/13/2018

The cost of the state currency in the world market is a rather significant value, it is it that determines the development of the state as a whole. The cheaper the national banknote, the lower the status of the state, and, hence, its position in the world market is low. Basically, the cheapest money is in states where a dictatorship rules or civil wars are fought or other equally important factors work.

Actually, all states that are distinguished by the low cost of the national currency cannot be proud of the high standard of living of the population and purchasing power. But at the same time, it is worth noting that the Russian ruble has noticeably lost ground in recent years, which, most likely, was due to sanctions from the United States and the European Union. However, the ruble is not yet the cheapest currency in the world, therefore, let's consider a list of monetary units that are much less expensive, and give the TOP-10 rating.

Cambodian riel

The Cambodian riel is the currency of Cambodia, which was introduced in 1955 into the circulation of the state. Among the cheapest funds, it takes 10th place, at the moment its cost is only 2 kopecks in relation to the Russian ruble.

Zimbabwean dollar

The ninth position in our rating is occupied by the Zimbabwean dollar, its current value against the ruble is 2 kopecks. Zimbabwe is an underdeveloped state with an extremely unstable economy, so the exchange rate changes quite often, it is almost impossible to predict its exchange rate against the ruble or dollar tomorrow.

Interesting! Last summer, 1 Zimbabwean dollar was worth 624 quadrillion US dollars - this is with the figure 24 zeros.

Somali shilling

The cost of a shilling in the state of Somalia is approximately 0.11 rubles. Here, the low value of the national currency is due to the fact that the state is in a protracted crisis, and the economy has not been developing for many years. The national currency began to be issued in 1962. And the main feature is that the rate of this currency has only been declining over the years.

Paraguayan Guarani

The cost of this monetary unit is only 1 kopeck, it is one of the cheapest currencies in the world. In fact, the state is recognized as one of the poorest in the world, and to be more precise, it ranks second in poverty among the states of South America. Here is the highest unemployment rate, every third Paraguayan is not only unemployed, but also lives far below the poverty line.

Laotian kip

The sixth place in the lowest value of the national currency is the Lao kip. Oddly enough, but Laos is a fairly popular tourist area, but it will be quite difficult to exchange other money for national Laos, and to be more precise, it is almost impossible to do this outside the state, since the currency is not convertible. Its cost is currently 0.0075 rubles.

Guinean franc

The fifth place in the ranking of the cheapest currencies in the world is occupied by the Guinean franc, this is the national money of the Republic of Guinea, which has been in circulation since 1986. The main feature is that the state is not devoid of natural resources and there are deposits of gold, diamonds, aluminum, therefore, having some opportunities, the country could take a more worthy place in the world ranking. At the moment, the value of the Guinean franc against the ruble is 0.7 of 1 kopeck.

Indonesian rupiah

This is the national currency of Indonesia, the state, which is the largest among Muslim countries, the capital is Jakarta. The population of the capital is more than 8 million people. The cost of national money is 0.0045 rubles.

Interesting! The state of Indonesia includes the beloved tourist paradise of Bali, but even though it brings a good profit to the treasury due to the influx of tourists, this did not affect the value of the national currency.

Of good

Dobra is the national currency of the Republic of Sao Tome and Principe, these are small states located on the coast of the African continent. They are former colonies of Portugal. It cannot be said that states do not have any resources, but, nevertheless, they are the largest suppliers of coffee and coconuts, this in no way affected the value of the currency. At the moment, the rate of good is 0.3 kopecks.

Iranian rial

The second place among the cheapest money in the world is occupied by the Iranian rial, which is the national currency of Iran from 1932 until today. It cannot be said that Iran is far from being a poor state, but due to the economic and political situation, the national currency rate is only declining. At the moment, the cost of 1 Iranian rial is 0.0015 rubles.

Vietnamese Dong

Finally, the cheapest currency in the world in relation to the ruble is the Vietnamese dong, its value is 0.000275 rubles, this currency was first issued in North Vietnam in 1947. Of course, one cannot fail to note the fact that Vietnam is an attractive tourist area for Americans, so American dollars are accepted for payment here, they also became the second currency, however, unspoken for the state.

In order to clearly understand which currency in the world is the cheapest in relation to the dollar and the ruble, we present a comparative table.

Please note that the figures indicated in the rating are relevant only at the beginning of May 2018, because the cost of monetary units is extremely unstable, which means that the cost may change over time.

So, we found out which currency is the cheapest in the world, at the moment it is the Vietnamese dong. By the way, it is worth noting that it basically always occupies the last place in the ranking of world currencies, that is, over the past few years, the exchange rate has not changed much. But not always in the territory of underdeveloped countries, only the national currency is in circulation, because of its low cost, conversion becomes difficult, so payment is accepted in US dollars.

The globe is already inhabited by seven billion people - inhabitants of hundreds of countries, the names of some of which are difficult to pronounce, and sometimes completely unknown. Of course, everyone taught (or pretended to) geography in the school curriculum. However, the topic of today's conversation is not taught at school.

Money is always good, but even better is its purchasing power. There is no need to talk about the purchasing power of the ruble, each of us has to deal with this every day. But in addition to your favorite money, there are still many interesting world currencies, which, in comparison with the ruble, have either more or (more pleasantly) less weight.

So, top 10 cheapest currencies in the world.

Tenth place. Turkmen manat - 0.0952 Russian rubles.

He and for him a Russian tourist (if, of course, there is one) will have to pay as much as 9 kopecks. One of the fifteen former Soviet republics brought its currency "to the people" in November 1993. Then he replaced the manat. However, the country does not have the necessary resources to keep the national currency at a decent level, even in relation to the Russian ruble.

Ninth place. Zimbabwean dollar - 7 kopecks.

50,000,000 Zimbabwean dollars.

The country's currency is so unstable, and the exchange rate in relation to other currencies is constantly floating, that it is impossible to predict what will happen tomorrow. For example, this summer the dollar in the country was worth 642 quadrillion Zimbabwean dollars. This incredible figure has 24! Zero, and one egg in the country's markets could be purchased for 35 billion local dollars.

Eighth place. Somali shilling - 2 kopecks.

A deep, stagnant period of crisis for piracy is a chronic condition. Since 1962, when the national currency of Somalia, the shilling, was issued, it has steadily rolled down an inclined plane, constantly losing ground.

In seventh place is the Paraguayan Guarani - 0.007034 rubles.

20,000 Paraguayan Guarani

it the cheapest currency in the world. No wonder the city of Asuncion, the capital of Paraguay, is recognized as one of the cheapest capitals in the world. The second poorest country in the vastness of South America practically does not provide its citizens even with work. The unemployment rate in the country is simply catastrophic - every third resident is not only unemployed, but also drags out a miserable existence.

Sixth place. Guinean franc - 0.004148 rub.

The national currency of the Republic of Guinea entered circulation back in 1986, replacing its predecessor, the seli.

With the natural gifts of this country, including gold, diamonds and aluminum, one could take a more worthy place in the ranking.

5000 Laotian kip

5. Lao kip - 0.003510 r.

Despite the fact that Laos is a fairly popular tourist route, exchange offices do not favor this currency due to its cheapness. Another proof of this is that it is impossible to exchange the Lao kip outside your own country, this currency is non-convertible.

4. Indonesian rupiah - 0.00339 p.

Indonesia is the largest Muslim-ruled country in the world, and Jakarta, the capital of Indonesia, is the largest city in Southeast Asia with over 8 million people. And even the country's favorite tourist paradise, Bali, which is part of the country, has not improved the situation.

3. Domra - 0.003 p.

The currency of the Democratic Republic of Sao Tome and Principe, a small state that lurks on the coast of Africa, was a former colony of Portugal. Well-known, one of the largest suppliers of coffee and coconuts to the world market, nevertheless, it has one of the cheapest currencies.

5000 Iranian reais

2. Iranian real - 0.003 rubles.

The unpopular policy pursued by the country's leadership, right and left flaunting the nuclear threat and endless attacks on Israel, has made the country's currency incredibly cheap. A gallon of oil is the real currency of Iran, not a state-recognised real. Oil costs much more than the national currency, which also does not make it popular in the world.

The first place is the cheapest currency in the world.

100,000 VND

And finally, the leader of the race, which took the top line of the rating, was the Vietnamese dong, for which you need to pay 0.0016 rubles. Vietnam, beloved by American tourists, succumbed to the ruthless influence of the West and accepted into its “embraces” the “second” (of course, unspoken) currency - Now, throughout the country, you can pay with “evergreens” almost everywhere.

The more money you have, the better. This is the opinion of a significant part of the world's population. However, this does not mean at all that if you have millions in your hands, then you are rich. It all depends on which currency these millions refer to. So in the country of Zimbabwe, almost every resident of the country had banknotes worth 100 trillion Zimbabwean dollars at home, but it was almost impossible to buy anything with them. This currency is considered the cheapest in the world.

Today, this cheapest currency in the world is completely withdrawn from circulation. The ban on the use of one's own banknotes in settlements came into force on June 30, 2009. The reason for this was the collapse of the Zimbabwean economy, which survived several currency devaluations. In 2008, the growth of inflation reached a record level for world economic practice of 231 million%. And this is only official data. Other unofficial sources claim that inflation has reached an incredible 6.5 quinquatrigintillion percent.

A little about the fall of the Zimbabwean economy and the fate of the Zimbabwean dollar

In 1980, Zimbabwe declared itself an independent state. And a year later, it introduced its own currency, the Zimbabwean dollar, into circulation. It was offered to the population as an alternative to the banknotes of another state that were in circulation at that time - the Rhodesian dollar.

At that time, the state of Zimbabwe was considered one of the most developed and successful among others located in Africa. Fields were cultivated, harvested, the grown products were effectively exported abroad. The main export commodities were tobacco, tea, cotton and sugar cane. In addition, wheat and corn fields were cultivated here, as well as vegetables for the domestic market.

21.6% of the country's GDP was provided by industry (processing of agricultural products, tobacco and textile factories, production of batteries for cars). On the territory of Zimbabwe, minerals were mined on a large scale, including gold and diamonds.

True, the local black population, despite the economic development of the country, remained below the poverty line. All the profits were received by white-skinned farmers - the owners of developed farms. This fact inevitably led to clashes of interests of different sections of society, the coming to power of the new Mugabe government, and reforms that were detrimental to the country's economy. For some 8 years (2000-2008), the country has become an importer of necessary food products and the poorest state on the continent.

Zimbabwean dollar - just a souvenir

In 2009, Zimbabwe's own currency depreciated so rapidly that commodity prices rose throughout the day. Given the current crazy inflation, we can give the following example: in the middle of the day, a standard can of cola in a store cost 100 billion Zimbabwean dollars, and after a few hours it was impossible to buy it for less than 150 billion dollars.

The government decided to stop using the national, by that time already the cheapest currency in the world, and carry out all calculations in the harder currencies of neighboring states and US dollars. This step turned out to be saving, and Zimbabwe's economy slowly began to rise, although the country still retains its position as one of the most backward states of the African continent.

And banknotes of the Zimbabwean dollar, the cheapest currency in the world, today can be brought from a trip to this country only as a souvenir. Tourists and collectors are happy to acquire this symbol of an unprecedented economic crisis.