5 Weakest Currencies in The World in 2024

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In this article, we will take a look at the 5 weakest currencies in the world in 2024. If you would like to read our discussion on the foreign exchange market, you can go to the 15 Weakest Currencies in The World in 2024.

5. Indonesian Rupiah (IDR)

1 USD = 15,619.25 IDR

Indonesia faced many challenges, including the 1997 Asian financial crisis, the 2007-2008 Great Recession, and the Covid-19 pandemic, all contributing to the weakness of the rupiah. Furthermore, declining foreign exchange reserves worsened the depreciation of the currency. With limited reserves, Indonesia’s central bank, Bank Indonesia, faces difficulties protecting its currency from rising US interest rates.

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