5 Worst Performing Currencies in Asia

Page 1 of 5

In this article, we discuss the 5 worst performing currencies in Asia. If you want to read about some more worst performing currencies, go directly to 10 Worst Performing Currencies in Asia

5. Egyptian Pound

Price Against 1 USD on January 2, 2023: 24 

Price Against 1 USD on September 20, 2023: 31

Percentage Decline in Price in 2023: 29%

The Egyptian Pound is the official currency of Egypt, a country with considerable influence in the Arab world. Some of the reasons why the Pound has fared so badly against the US dollar this year are rising food and energy prices. Egypt is one of the biggest importers of wheat in the world. The Russian war in Ukraine put a premium on wheat prices, and this has served to widen the debt of the Egyptian government. Authorities in Cairo have gone to the International Monetary Fund for help. The IMF has demanded Egypt take long-term measures to fix the economy. Some of these include the raising of interest rates and more free market policies aimed at helping businesses achieve sustainable long-term growth. 

Page 1 of 5