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The world’s most worthless currencies

Devaluation is a reduction in the value of a currency with respect to other monetary units. In common modern usage, it specifically implies an official

lowering of the value of a country’s currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency. In contrast, (currency) depreciation is most often used for the unofficial decrease in the exchange rate in a floating exchange rate system.

There could be many motives of the devaluation. It stimulates exports of commodities, it restricts import demand for goods and services, and it helps in creating a favourable balance of payments. Almost all the countries of the world have devalued their currencies at one time or the other with a view to achieving certain economic objectives. During the great depression of 1930 devaluation was carried by most countries of the world for the objecting of correcting over-valuation of currencies. For some weak currencies, devaluation is a process without end that leads to completely worthless currencies, such as the ones below:

CurrecyCountryExchange rateRielCambodia4035.55 per dollarGuaraniParaguay4659.27 per dollarGuinean FrancGuinea6884.50 per dollarKipLao7948.92 per dollarRupiaIndonesia8826.13 per dollarRialIran10,224.9 per dollarManatTurkmenistan14,250 per dollarDobraSao Tome and Principe17,783.13 per dollarDongVietnam19,327.13 per dollar
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