&imwidth=800&imheight=600&format=webp&quality=medium "Nations with the weakest currencies against the US dollar")
The US dollar is one of the strongest currenciesin the world because most of the global trade takes place by exchanging US dollars. Many other countries, including China, have been attempting to break the status quo. US President Donald Trump last month alleged that BRICS nations had been trying to challenge the supremacy of the US dollar in global trade. While the currencies of many countries can compare with the US dollar as far as their values are concerned, severalnations' currencies are struggling with their values against the dollar impossibly low.
Here's a list of countries with badly performing currencies
Lebanon
Lebanon is in the midst of the Israel-Gaza war. The war has taken a toll on the Lebanese economy. Its currency, the Lebanese Pound, is very weak. One US dollar is equal to 89,953.94 Lebanese pounds. The country suffers from inflation, political issues, and the meltdown of the banking system. These factors have led to the downfall of the country's currency.
Iran
Iran is one of the biggest strategic rivals of the United States. It is also an enemy of US allies, including Israel. Iran's economy has been suffering from the US-led Western countries' sanctions. The country suffers from hyperinflation. It is one of the weakest currencies in the world. One US dollar fetches 42,050 Iranian rials.
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Vietnam
Vietnamese Dong is another such country. The Southeast Asian nation is fast emerging as a manufacturing hub. It is also a tourism haven because of the cheaper cost of vacationing. However, its currency is very low compared to the US dollar. One US dollar equals26,432. It is a deliberate strategy as it wants to keep its exports competitive.
Sierra Leone
Sierra Leone'scurrency is valued very low. 22,500 leones equals one dollar. The African nation is afflicted with rickety infrastructure. It relies on mineral exports and is fraught with inflation. These economic issues lead to the currency's poor performance.
Indonesia
Indonesia is one of the countries in Southeast Asia that is doing well economically. However, its currency sells at 16,500 Rupiah per US dollar.