Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

10 Cheapest Currencies in the World in 2017

If you want to know the 10 cheapest currencies in the world in 2017, then you’ve come to the right place. Interest rates, inflation, public debt and political stability are just some of the factors that affect a nation’s currency. While it is oftentimes assumed that a weak currency is a sign of an ailing economy, it is important to note that this is not always the case. One sector that benefits from a cheap currency is the export industry. When exporters trade their goods in a low-currency environment, they get better market share, as products become relatively cheaper than those being sold from stronger currencies.

What does it really mean when we say “cheap” currency? Let’s look at it from a traveler’s perspective. If you come from the United States and visit a country with a so-called cheap currency, you can buy more things or services in that country with your buck than you could elsewhere, though there are exceptions of course, as certain things may be rarer in other countries, which makes them costlier there due to supply and demand factors. Cheap currencies should not be confused with “undervalued” currencies, which means those currencies are changing hands for less than they maybe should be due to various factors and economic conditions.

If you like this list of 10 cheapest currencies, you should also love our list of the 10 most expensive currencies in the world.

In this article, we combined this year’s weakest currencies as listed by The Telegraph and Naija Quest. From there, we picked out the 10 lowest-valued currencies against the US dollar using XE Currency Converter. The US dollar is one of the most popular global currencies, along with the Euro and Japanese yen, and is considered the benchmark currency against which all others are judged. It accounts for more than 60% of all recognized central bank foreign exchange reserves and is widely accepted in many international transactions.

Based on their value against the US dollar on June 30, 2017, the 10 cheapest currencies in the world in 2017 are the Belarusian Ruble (BYR), Cambodian Riel (KHR), Guinean Franc (GNF), Indonesia Rupiah (IDR), Iranian Rial (IRR), Lao Kip (LAK), Paraguayan Guarani (PYG), Sao Tomean Dobra (STD), Sierra Leonean Leone (SLL), and the Vietnamese Dong (VND).

See how they rank beginning on the next page. And for further reading, check out our list of the 10 most expensive currencies in the world in 2017.

10. Cambodian Riel (KHR)

1 USD = 4,087.08 KHR

Our list of the 10 Cheapest Currencies in the World in 2017 begins with the Cambodian Riel. The first riel was issued between 1953 and 1975. In 1980, the second currency, also known as riel, was rolled out. Today, most significant purchases in Cambodia are paid for in US dollars. ATMs likewise dispense money in this global currency. It is very rare to spot riel coins, as the Cambodian central bank has ceased to produce anything metallic.



9. Paraguayan Guarani (PYG)

1 USD = 5,562.89 PYG

Just like in Cambodia, the centavo coins are no longer in use in Paraguay due to high inflation. At 5,562.89 PYG against one US dollar, the Paraguayan Guarani is the weakest currency in the Americas. According to Trading Economics, it reached its record low of 3,642.70 in August 2011.

Man in ox cart

Image Credit: Pixabay/Public Domain

8. Sierra Leonean Leone (SLL)

1 USD = 7,427.78 SLL

Foreign exchange instability has always been a problem in Sierra Leone. In 2016, the country’s President called on citizens to use leones in daily transactions instead of the US dollar in an attempt to boost the currency’s value. Historically, the SLL hit its all-time high of 7,537.50 in April of this year.

Countries with the Highest Hunger Rates


7. Lao or Laotian Kip (LAK)

1 USD = 8,248.44 LAK

With Laos’ external deficit expected to widen to about 20% of its GDP this year, the weak Laotian Kip is posing a serious threat to the Southeast Asian state’s economy. Last year, a Laos’ trade ministry official stressed that the LAK was not overvalued after an assessment from the International Monetary Fund said that the kip was “too strong” given the state’s wide deficit, Reuters reported.

Laos Mekong River

Image Credit: Pixabay/Public Domain

6. Guinean Franc (GNF)

1 USD = 9,011.78 GNF

The Guinean franc was first issued in 1959 and then reintroduced in 1985. In January 2017, the currency reached its weakest value against the USD at 9,395.60. It hit its record low of 1,267.50 in December 1998.

Papua New Guinea

Image Credit: Pixabay/Public Domain

5. Indonesian Rupiah (IDR)

1 USD = 13,327.48 IDR

Despite being one of the least-valued currencies in emerging markets, the Indonesian rupiah managed to appreciate by 4.97% against the US dollar last year, according to Indonesia Investments. Also in 2016, the country’s central bank proposed to redenominate the rupiah by cutting three zeroes from it.

Indonesian Rupiah

Image Credit: Pixabay/Public Domain

4. Belarusian Ruble (BYR)

1 USD = 19,400.00 BYR

Belarus issued its own currency in 1992. In 2000, the country rolled out a new ruble. Only the banknotes are available for circulation, as coins are issued exclusively for commemorative purposes. Because of its devaluation, the highest Belarusian ruble banknote available today is 200,000.

Belarus money

Image Credit: Pixabay/Public Domain

3. Vietnamese Dong (VND)

1 USD = 22,699.00 VND

Also making it to our list of the 10 cheapest currencies in the world in 2017 is the Vietnamese dong, which became the official currency of Vietnam in 1978. The dong is expected to be valued at 23,600 against the US dollar over the next 12 months, according to Trading Economics.

John Bill/

John Bill/

2. Sao Tomean Dobra (STD)

1 USD = 21,537.34 STD

The dobra is the official currency of Sao Tome and Principe. In 2009, the island country inked a deal with Portugal, permitting the dobra to be linked with the Euro. As of June 30, 1 Euro is equivalent to 24,607.16 dobras.

Sao Tome flag

Image Credit: Pixabay/Public Domain

1. Iranian Rial (IRR)

1 USD = 32,502.89 IRR

Ranking in the number one spot on our list of the 10 cheapest currencies in the world in 2017 is the Iranian Rial. Trading at more than 32,000 IRR against the US dollar, the Iranian real is the least-valued currency on our list. It was called “toman” until the 1930s and many Iranians still refer to their currency using that name. Technically, one toman is equivalent to 10 rials. To boost the currency, Iran President Hassan Rouhani approved a bill last year to revalue the rial upwards by tenfold, Reuters reported.



DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.