"You have now reached infatuation's final destination—the complete and merciless devaluation of self." -- Elizabeth GilbertThe above quote may be from Ms. Gilbert's memoir "Eat, Pray, Love" on the subject of spirituality and romance, but it best describes the value and strength of the currencies discussed in this article. Without further ado, the following five currencies make our list of the least valued currencies of this century, with old price quotes and charts dating back only to 1996 when we saw the first generation of Forex online trading platforms available for retail Forex traders via the internet.
Please note, that many other currencies that may have topped or equally been worthy enough to be mentioned here has at some point during the past two decades denominated their currency to reduce the unwieldiness of its old value. Also, more emphasis has been given over each nation's current GDP data ranking among all of the present 187 International Monetary Fund (IMF) members.
#1: Uzbekistani Som
Estimated GDP: 187,947 millions of international$ , RANK: 62/187
One US dollar was equal to 40.00 UZS on the 1st January of 1996 and since it has gained 7487% to an unimaginable exchange rate of 2994.90 Uzbekistani som.
For more info on the Uzbekistani Som, please visit: https://en.wikipedia.org/wiki/Uzbekistani_som
#2: Angolan Kwanza
Estimated GDP: 184,438 millions of international$ , RANK: 63/187
Despite Angola's old currency known as the "kwanza reajustado (AOR) " being replaced by "kwanza (AOA)" on the 1st of December, 1999 - at a ratio of 1,000,000 : 1 ; this currency is devaluing itself faster than the force of gravity on earth. USD has gained around 5337% over the AOA within the past 16 years and 8 months, going from 1 : 3.18 to 1 : 169.70.
For more information about the Angolan Kwanza, please visit: https://en.wikipedia.org/wiki/Angolan_kwanza
#3: Iranian Rial
Estimated GDP: 1,439,295 millions of international$ , RANK: 18/187
USD/IRR had a price range around 1600.00 in the year of 1996 and has since risen over 1945% to an overwhelming exchange rate of 3110.00 Iranian rial for $1 US. Imagine retiring with a pension in Iran.
Iran's highest denomination banknote is of the 100,000 Iranian Rial bill. Perhaps, it is time for the Iranian bank to really knock three to four zeros off its currency.
For more info on the Iranian Rial, visit: https://en.wikipedia.org/wiki/Iranian_rial
#4: Nigerian Naira
Estimated GDP: 1,091,700 millions of international$ , RANK: 23/187
One USD could buy approximately 19.94 naira in 1996 but today, $1 USD can buy up to 349.00 naira. A total gain of over 1750%!
For more information about the Nigerian naira, please visit: https://en.wikipedia.org/wiki/Nigerian_naira
#5: Argentine Peso
Estimated GDP: 971,967 millions of international$ , RANK: 26/187
While $1 USD could just buy about $1 ARS, the USDARS is trading in a price range of over 15.85. The Argentine peso has lost 1585% of its value against the US dollar.
100 Argentine pesos bill is the highest available banknote. An assurance that every wallet in Argentina has money in it.
For more information about the Argentine peso, please visit: https://en.wikipedia.org/wiki/Argentine_peso
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