The top 10 lowest-valued currencies in the world in 2024

Lowest-Valued Currency in the World: Here are the top 10 least valuable currencies globally and the factors behind their declining value in 2024.

*Data based on the current international stock exchange as of July 25, 2024.*

1. Iranian Rial (IRR):

Iran‘s official currency, the Iranian Rial (IRR), is currently the world’s least valuable currency, with 1 Pakistani Rupee (PKR) equaling 150.949 IRR. This depreciation is primarily influenced by political unrest, the lasting effects of the Iran-Iraq war, and the country‘s nuclear programme. 

2. Vietnamese Dong (VND):

Vietnam’s official currency, the Vietnamese Dong (VND), is the second least valued currency, with 1 PKR equaling 90.383 VND. This devaluation can be attributed to Vietnam’s transition from a centralised economy to a market economy, a process that has presented challenges and uncertainties.

3. Lao Kip (LAK):

The official currency of Laos, the Lao Kip (LAK), is valued at 79.55 against 1 Pakistani Rupee. Established in 1952, the Lao currency has shown gradual appreciation over time, reflecting the country’s economic progress.

4. Leone (SLL):

With 1 Pakistani rupee equivalent to 80.387 SLL, Sierra Leone’s currency, the Leone, faces significant challenges stemming from poverty, corruption, and historical conflicts. These factors have contributed to the economic struggles faced by Sierra Leone, impacting both the currency’s value and the overall economy.

5. Indonesian Rupiah (IDR):

The official currency of Indonesia, the Indonesian Rupiah (IDR), stands at 58.475 against 1 Pakistani Rupee owing to various factors such as declining reserves, heavy reliance on commodity exports, and external investments.

6. Uzbekistani Som (UZS):

At a rate of 45.357 UZS to 1 Pakistani Rupee, Uzbekistan’s Uzbekistani Som reflects the economic challenges faced by the country. However, despite recent difficulties, there are indications of economic recovery in the country.

7. Guinea-Franc (GNF):

With 1 Pakistani Rupee equaling 30.733 GNF, Guinea’s official currency, the Franc, has been adversely affected by corruption and political instability. Guinea continues to grapple with economic challenges that impact the value of the currency.

8. Paraguayan Guarani (PYG):

The Paraguayan Guarani (PYG) is valued at 27.223 against 1 Pakistani Rupee. Paraguay’s currency has been impacted by economic collapse, inflation, corruption, and poverty, leading to challenges in maintaining its value.

9. Ugandan Shilling (UGX):

Uganda’s Ugandan Shilling (UGX) has a value of 13.342 against 1 Pakistani Rupee, as the currency has a history of economic challenges, including difficulties during Idi Amin’s rule, though recent improvements have been observed in the currency’s value, reflecting the positive developments in the country’s economy.

10. Iraqi dinar (IQD):

At a rate of 4.705 IQD to 1 Pakistani Rupee, Iraq’s currency, the Iraqi Dinar, has faced inflation and political unrest, impacting its exchange rate.