Analysis of the 50 most depreciated coins against the dollar in 2024

Global financial markets reveal a concerning landscape: dozens of nations are suffering severe economic crises reflected in the collapse of their national currencies. This exploration examines the cheapest currency in the world and other cases of extreme devaluation that characterize the current economic scenario.

Extreme Cases: Catastrophic Depreciation

The most critical situation is led by Venezuela with its Bolívar (VES), where 1 USD is approximately 4,000,815 VES. Iran follows with the Rial (IRR) at 514,000 per dollar. Syria presents another acute crisis with its Pound (SYP) trading at 15,000 per US dollar. These three cases represent virtually irreversible monetary collapses.

Latin America Under Pressure

The Latin American region is experiencing significant inflationary pressures. Colombia sees its Peso (COP) at 3,915 per dollar, while Paraguay quotes its Guarani (PYG) at 7,241. Haiti faces a serious situation with its Gourde (HTG) at 131 per dollar, reflecting prolonged political and economic instability. Nicaragua maintains its Córdoba (NIO) at 36.5, indicating constant devaluation pressures.

Asia-Pacific: Variety of Pressures

Indonesia, with the Rupiah (IDR) at 14,985 per dollar, deals with regional inflation. Laos records its Kip (LAK) at 17,692, while Cambodia quotes the Riel (KHR) at 4,086. Vietnam maintains the Dong (VND) at 24,000, Bangladesh operates with the Taka (BDT) at 110, and the Philippines presents the Peso (PHP) at 57 per US dollar.

African Currencies Under Pressure

Sierra Leone deals with the Leone (SLL) at 17,665 per dollar, while Guinea maintains the Franc (GNF) at 8,650. Tanzania quotes the Shilling (TZS) at 2,498, Uganda does so at 3,806, and Kenya at 148. Madagascar operates with the Ariary (MGA) at 4,400, Malawi with the Kwacha (MWK) at 1,250, Mozambique with the Metical (MZN) at 63, Nigeria with the Naira (NGN) at 775, Somalia with the Shilling (SOS) at 550, Zambia with the Kwacha (ZMW) at 20.5, Ghana with the Cedi (GHS) at 12, Ethiopia with the Birr (ETB) at 55, and Togo with the Franc (XOF) at 620.

Middle East and Central Asia

Lebanon records its Pound (LBP) at 15,012 per dollar, Iraq maintains the Dinar (IQD) at 1,310, Yemen quotes the Rial (YER) at 250, and Afghanistan operates with the Afghani (AFN) at 80. In Central Asia, Uzbekistan presents the Sum (UZS) at 11,420, Turkmenistan quotes the Manat (TMT) at 3.5, Tajikistan maintains the Somoni (TJS) at 11, and Kyrgyzstan operates with the Som (KGS) at 89.

Other Transition Economies

Belarus records the Ruble (BYN) at 3.14 per dollar, Moldova maintains the Leu (MDL) at 18, Armenia quotes the Dram (AMD) at 410, Georgia presents the Lari (GEL) at 2.85, Pakistan operates with the Rupee (PKR) at 290, Nepal quotes the Rupee (NPR) at 132, Sri Lanka maintains the Rupee (LKR) at 320, Myanmar presents the Kyat (MMK) at 2,100, and North Korea maintains the Won (KPW) at 900.

General Economic Context

Survis highlights the Dollar (SRD) at 37, Iceland records the Krona (ISK) at 136, Kazakhstan maintains the Tenge (KZT) at 470, Egypt quotes the Pound (EGP) at 31, and Fiji presents the Dollar (FJD) at 2.26.

Conclusions on Global Depreciation

These fifty cases demonstrate common patterns: rampant inflation, political crises, international sanctions, unsustainable external debt, and excessive dependence on imports. The cheapest currency in the world is not merely a statistical phenomenon but a symptom of deep macroeconomic difficulties that directly affect the purchasing power of ordinary citizens and the stability of their national financial systems.