Global Currency Devaluation: 50 Weakest Currencies Against USD in 2024

In an era of increasing economic uncertainty, the value of national currencies provides crucial insights for both traditional and crypto investors. As cryptocurrencies continue gaining adoption as potential hedges against inflation, understanding which countries face the most severe currency devaluation becomes particularly relevant. Here's a comprehensive ranking of the 50 weakest currencies globally against the US dollar in 2024.

The World's Most Devalued Currencies

1. 🇻🇪 Venezuela - Bolivar (VES) - 1 USD ≈ 4,000,815 VES Venezuela's hyperinflation crisis has made its currency practically worthless in international markets

2. 🇮🇷 Iran — Rial (IRR) — 1 USD ≈ 514,000 IRR Sanctions and economic isolation continue to impact Iran's currency stability

3. 🇱🇦 Laos — Cyprus (LAK) — 1 USD ≈ 17,692 LAK

4. 🇸🇱 Sierra Leone — Leone (SLL) — 1 USD ≈ 17,665 SLL

5. 🇱🇧 Lebanon — Pound (LBP) — 1 USD ≈ 15,012 LBP Banking sector collapse and economic crisis have devastated the Lebanese pound

6. 🇮🇩 Indonesia - Rupiah (IDR) - 1 USD ≈ 14,985 IDR

7. 🇺🇿 Uzbekistan — Som (UZS) — 1 USD ≈ 11,420 UZS

8. 🇬🇳 Guinea — Franc (GNF) — 1 USD ≈ 8,650 GNF

9. 🇵🇾 Paraguay - Guarani (PYG) - 1 USD ≈ 7,241 PYG

10. 🇰🇭 Cambodia — Riel (KHR) — 1 USD ≈ 4,086 KHR

11. 🇨🇴 Colombia — Peso (COP) — 1 USD ≈ 3,915 COP

12. 🇺🇬 Uganda - Shilling (UGX) - 1 USD ≈ 3,806 UGX

13. 🇹🇿 Tanzania — Shilling (TZS) — 1 USD ≈ 2,498 TZS

14. 🇲🇬 Madagascar — Ariari (MGA) — 1 USD ≈ 4,400 MGA

15. 🇮🇶 Iraq - Dinar (IQD) - 1 USD ≈ 1,310 IQD

16. 🇻🇳 Vietnam — Dong (VND) — 1 USD ≈ 24,000 VND Despite economic growth, Vietnam maintains one of Asia's weakest currency values

17. 🇧🇾 Belarus — Ruble (BYN) — 1 USD ≈ 3.14 BYN

18. 🇵🇰 Pakistan — Rupee (PKR) — 1 USD ≈ 290 PKR Political instability and IMF bailout conditions continue pressuring the rupee

19. 🇲🇲 Myanmar to Kyat (MMK) — 1 USD ≈ 2,100 MMK

20. 🇿🇲 Zambia — Kwacha (ZMW) — 1 USD ≈ 20.5 ZMW

21. 🇳🇵 Nepali — Rupee (NPR) — 1 USD ≈ 132 NPR

22. 🇸🇩 Sudan — Pound (SDG) — 1 USD ≈ 600 SDG

23. 🇸🇷 Suriname — Dollar (SRD) — 1 USD ≈ 37 SRD

24. 🇹🇬 Togo - Franc (XOF) - 1 USD ≈ 620 XOF

25. 🇪🇹 Ethiopia — Birr (ETB) — 1 USD ≈ 55 ETB

26. 🇰🇵 North Korea — Won (KPW) — 1 USD ≈ 900 KPW

27. 🇹🇲 Turkmenistan — Manat (TMT) — 1 USD ≈ 3.5 TMT

28. 🇹🇯 Tajikistan — Somoni (TJS) — 1 USD ≈ 11 TJS

29. 🇸🇾 Syrian Pound (SYP) — 1 USD ≈ 15,000 SYP Ongoing conflict has devastated Syria's economic infrastructure

30. 🇬🇭 Ghana — Sedi (GHS) — 1 USD ≈ 12 GHS

31. 🇰🇪 Kenya — Shilling (KES) — 1 USD ≈ 148 KES

32. 🇪🇬 Egypt — Pound (EGP) — 1 USD ≈ 31 EGP

33. 🇱🇰 Sri Lanka — Rupee (LKR) — 1 USD ≈ 320 LKR Default on sovereign debt in 2022 continues affecting currency stability

34. 🇲🇼 Malawi — Kwacha (MWK) — 1 USD ≈ 1,250 MWK

35. 🇲🇿 Mozambique — Metical (MZN) — 1 USD ≈ 63 MZN

36. 🇾🇪 Yemen — Rial (YER) — 1 USD ≈ 250 YER

37. 🇦🇫 Afghanistan - Afghani (AFN) - 1 USD ≈ 80 AFN

38. 🇰🇬 Kyrgyzstan — Som (KGS) — 1 USD ≈ 89 KGS

39. 🇭🇹 Haiti - Gourde (HTG) - 1 USD ≈ 131 HTG

40. 🇳🇬 Nigeria — Naira (NGN) — 1 USD ≈ 775 NGN Recent attempts at currency digitalization have not stabilized the naira

41. 🇲🇩 Moldova — Leu (MDL) — 1 USD ≈ 18 MDL

42. 🇦🇲 Armenia - Dram (AMD) - 1 USD ≈ 410 AMD

43. 🇬🇪 Georgia — Lari (GEL) — 1 USD ≈ 2.85 GEL

44. 🇸🇴 Somalia - Shilling (SOS) - 1 USD ≈ 550 SOS

45. 🇫🇯 Fiji - Dollar (FJD) - 1 USD ≈ 2.26 FJD

46. ​​🇳🇮 Nicaragua to Cordoba (NIO) — 1 USD ≈ 36.5 NIO

47. 🇧🇩 Bangladesh Taka (BDT) - 1 USD ≈ 110 BDT

48. 🇰🇿 Kazakhstan - Tenge (KZT) - 1 USD ≈ 470 KZT

49. 🇮🇸 Iceland - Krona (ISK) - 1 USD ≈ 136 ISK

50. 🇵🇭 Philippines — Peso (PHP) — 1 USD ≈ 57 PHP

Why Currency Devaluation Matters for Investors

Currency devaluation significantly impacts wealth preservation strategies worldwide. In countries like Venezuela and Lebanon, where traditional banking systems have failed to protect value, digital assets have emerged as alternative stores of value. Recent data indicates growing crypto adoption rates in several countries on this list, particularly where inflation rates exceed 10%.

For traders on digital asset platforms, these currency valuations highlight potential market entry points in emerging economies. The correlation between national currency instability and increased cryptocurrency trading volumes presents opportunities for market participants to diversify their portfolio exposure across both traditional and digital assets.

Key Insights:

• Countries experiencing hyperinflation often see increased digital asset adoption
• Several nations on this list have begun exploring central bank digital currencies (CBDCs)
• Stablecoin usage has grown significantly in countries with the weakest currencies
• Digital asset trading volumes tend to spike during periods of acute currency devaluation

Understanding these global currency dynamics provides essential context for anyone navigating today's increasingly interconnected financial markets.