Global Currency Crisis 2024: Which Currencies Hit Lowest Valuations Against the Dollar? 🌍

Understanding the World’s Most Weakened Currencies

The international financial landscape in 2024 reveals a stark reality: dozens of nations are grappling with severe currency depreciation against the US dollar. From hyperinflationary economies to nations facing geopolitical turmoil and structural economic challenges, these currencies represent some of the lowest valuations globally. Let’s examine where the dollar commands the highest purchasing power and what drives these currency collapses.

Extreme Hyperinflation Zone: The Worst Performers

At the extreme end of currency weakness, a handful of nations have experienced catastrophic devaluation. Venezuela’s Bolivar stands as perhaps the most dramatic case, with 1 USD equivalent to approximately 4,000,815 VES. Iran’s Rial follows closely, requiring roughly 514,000 IRR to match a single dollar. Syria’s Pound tells a similar story of economic breakdown, trading at around 15,000 SYP per USD. These three represent the world’s lowest currencies by valuation, each tied to political instability, sanctions, or prolonged economic mismanagement.

Severe Currency Weakness: Southeast Asia & Africa

The next tier of currency challenges spans multiple regions. Indonesia’s Rupiah (≈14,985 IDR/USD) remains Southeast Asia’s most devalued major currency, while Vietnam’s Dong holds relatively stronger at 24,000 VND per dollar. Across Africa, the situation proves equally dire: Lebanon’s Pound (≈15,012 LBP/USD) reflects Middle Eastern economic crisis, while Laos’ Kip and Sierra Leone’s Leone both hover around 17,000-17,700 per dollar.

Additional significant devaluations include:

• Pakistan’s Rupee: ≈290 PKR/USD
• Nigeria’s Naira: ≈775 NGN/USD
• Uganda’s Shilling: ≈3,806 UGX/USD
• Kenya’s Shilling: ≈148 KES/USD
• Tanzania’s Shilling: ≈2,498 TZS/USD

Moderate Weakness Across Emerging Markets

A broader category of developing economies shows moderate-to-significant currency depreciation. Colombia’s Peso (≈3,915 COP/USD), Cambodia’s Riel (≈4,086 KHR/USD), and Belarus’ Ruble (≈3.14 BYN/USD) represent the middle ground of currency challenges. Central Asian nations similarly struggle: Uzbekistan’s Som (≈11,420 UZS/USD), Tajikistan’s Somoni (≈11 TJS/USD), and Kyrgyzstan’s Som (≈89 KGS/USD) reflect regional economic headwinds.

South Asian currencies also show marked weakness:

• Bangladesh Taka: ≈110 BDT/USD
• Nepal’s Rupee: ≈132 NPR/USD
• Sri Lanka’s Rupee: ≈320 LKR/USD
• Haiti’s Gourde: ≈131 HTG/USD

Why These Currencies Hit Lowest Values: Common Factors

Several interconnected causes drive such extreme currency depreciation across these nations:

Political Instability & Sanctions: Venezuela, Iran, Syria, and Afghanistan all face or faced international sanctions and geopolitical isolation, destroying external trade capacity and currency demand.

Hyperinflation & Monetary Policy Failure: Unchecked money printing in countries like Venezuela and Syria has rendered currencies nearly worthless, with inflation rates sometimes exceeding 1000% annually.

Structural Economic Weakness: Many developing nations lack diversified export bases, strong manufacturing sectors, or stable governance—leaving their currencies vulnerable during global economic downturns.

External Debt & Currency Crises: Countries carrying massive foreign debt in hard currency (particularly USD) face constant pressure on their own currency valuations.

Regional Conflict: Myanmar, Somalia, Yemen, and other conflict zones experience currency collapse as economic activity halts and international confidence evaporates.

The Complete Global Picture: All 50 Weakest Currencies

Beyond the most extreme cases, the following currencies rank among the world’s lowest valuations:

Middle East & Central Asia Tier: Iraq’s Dinar (≈1,310 IQD/USD), Sudan’s Pound (≈600 SDG/USD), Yemen’s Rial (≈250 YER/USD), Afghanistan’s Afghani (≈80 AFN/USD), Turkmenistan’s Manat (≈3.5 TMT/USD), Armenia’s Dram (≈410 AMD/USD), Georgia’s Lari (≈2.85 GEL/USD), Kazakhstan’s Tenge (≈470 KZT/USD).

African Currencies: Madagascar’s Ariary (≈4,400 MGA/USD), Guinea’s Franc (≈8,650 GNF/USD), Togo’s Franc (≈620 XOF/USD), Ethiopia’s Birr (≈55 ETB/USD), Ghana’s Sedi (≈12 GHS/USD), Malawi’s Kwacha (≈1,250 MWK/USD), Mozambique’s Metical (≈63 MZN/USD), Zambia’s Kwacha (≈20.5 ZMW/USD), Egypt’s Pound (≈31 EGP/USD), Somalia’s Shilling (≈550 SOS/USD), Nigeria listed above.

Latin American & Caribbean: Paraguay’s Guarani (≈7,241 PYG/USD), Suriname’s Dollar (≈37 SRD/USD), Nicaragua’s Cordoba (≈36.5 NIO/USD), plus Colombia and Haiti listed previously.

Asia-Pacific: Myanmar’s Kyat (≈2,100 MMK/USD), Philippines’ Peso (≈57 PHP/USD), Fiji’s Dollar (≈2.26 FJD/USD), Iceland’s Krona (≈136 ISK/USD), North Korea’s Won (≈900 KPW/USD), plus Southeast Asian currencies noted above.

Eastern Europe: Moldova’s Leu (≈18 MDL/USD), Belarus noted above.

What This Means for Global Finance

The pattern is unmistakable: weaker currencies concentrate in regions facing political upheaval, structural poverty, inflation crises, or international isolation. The dollar’s strength against these currencies reflects both USD stability and fundamental economic challenges in these nations. For investors, crypto traders, and those monitoring world economic trends, these currency valuations serve as crucial indicators of which economies face the most severe headwinds.

Understanding where the dollar holds its lowest valuations—and why—provides critical insight into global financial vulnerability, geopolitical risk, and emerging market fragility in 2024.