When Indian citizens go to another country for studies, business, or travel, the first thing they usually check is how the Indian Rupee compares to that country’s currency. There are some countries where the local currency is so weak compared to the Indian Rupee that for just ₹100, you can get thousands or even lakhs in their currency. Let’s find out which country has the weakest currency in the world and why.
Iran has the world’s weakest currency
According to Forbes’ 2024 economic report, Iran currently has the weakest currency in the world. The Iranian currency, called the “Iranian Rial,” is almost 500 times weaker than the Indian Rupee.
₹1000 becomes nearly 5 lakh Rials
This means if you exchange just ₹100 for Iranian currency, you will get around 48,810 Rials. And if you convert ₹1000, it turns into about 4.88 lakh Rials.
Why is Iran’s currency so weak?
There are several major reasons behind such a weak currency. The biggest factors are Iran’s nuclear program and the long-standing Iran-Iraq war.
Falling foreign reserves worsened the situation
This conflict created political and economic instability in the country. International sanctions and a continuous decline in foreign currency reserves made the situation even worse.
Also Read-: Low on Budget but Want to Travel Abroad? Here Are the Cheapest Tourist Destinations for Indians
Vietnam’s currency is also weak
Apart from Iran, many other countries also have currencies that are much weaker than the Indian Rupee. One example is Vietnam, where the currency is called the “Vietnamese Dong” (VND). One Indian Rupee equals about 299 Vietnamese Dong, which means the Indian Rupee has high value in Vietnam too.
Other weak currencies
Currencies like Sierra Leone’s “Leone,” Laos’ “Kip,” Indonesia’s “Rupiah,” and Uzbekistan’s “Som” are also considered very weak compared to the Indian Rupee.