The Weakest Currencies In 2020
The Weakest Currencies In 2020
Let's face it: 2020 hasn't been the best year for the world economy. But however bad things are going... they could always be worse. Much worse, as it turns out. To demonstrate this, let's take a look at the weakest currencies in 2020. We'll see how they stack up compared to the good old USD.
Image by HeatherPaque from Pixabay
5. Uzbek Sum
1 USD = 10,134 UZS
Image by LoggaWiggler from Pixabay
Uzbekistan is a former Soviet Republic, so it's only had its own currency since 1994. Unfortunately, the country's economy has struggled in recent years, leading the Sum to have a very low exchange rate.
4. Indonesian Rupiah
1 USD = 14,786 IDR
Photo by Jeremy Bishop on Unsplash
Indonesia is a large, populous, and lush country. However, slow GDP growth in recent years has led to a currency crash that lands the Rupiah on this list. The same could be said for other Asian currencies, which leads us to...
3. Vietnamese Dong
1 USD = 23,260 VND
Photo by Ammie Ngo on Unsplash
The Vietnamese Dong is famously one of the most anemic currencies on earth. The main reason is that Vietnam has a balance of trade deficit, and there's low demand for the Dong.
2. Iranian Rial
1 USD = 42,043 IRR
Photo by Foroozan Faraji on Unsplash
Years of sanctions have taken their toll on Iran's currency. Recently, the Iranian government announced they will be taking steps to address this. Soon, they will replace the rial with a new currency called the toman. One toman will be worth 10,000 rial under this new system.
1. Venezuelan Bolívar
1 USD = 201,300 VES
Pixabay
It's no surprise that Venezuela finds itself on this list. Despite its oil wealth, the country has been in a state of anarchy for years. Political instability has caused the economy to spiral out of control, resulting in a currency that is effectively worthless.
We hope you enjoyed reading about the world's weakest currencies!
READ MORE
Opening an electric bill that suddenly looks nothing like last month’s can make a landlord wonder what is happening downstairs. That concern is especially understandable when the rent includes electricity and a tenant has recently brought in several appliances. Still, an unexpectedly expensive bill does not automatically give you the right to switch off power to the basement apartment.
Taking an elderly parent into your home can change nearly every part of daily life, from household expenses to work schedules and privacy. Meanwhile, siblings who live elsewhere may still assume that whatever remains in the estate will eventually be divided equally. That creates a difficult question: should the child who supplied years of hands-on care receive something financially different from the children who did not?
Locked grocery store items can double shopping time. Learn why retailers use security cases, how they affect sales, and practical ways consumers can save time, money, and frustration while shopping.
You can carefully budget for groceries, housing, transportation, and entertainment and still watch money disappear through dozens of smaller charges. The frustrating part is that many of these charges arrive after you have already committed mentally or financially to the transaction. That makes understanding the fees, rather than simply accepting it, one of the easiest ways to protect a household budget.
Driving across town for cheaper groceries can feel like smart shopping, but gas and extra mileage may erase the savings. Here’s how to do the math—and why some old-school grocery strategies from the 1980s no longer make much sense.
Disclaimer
The information on MoneyMade.com is intended to support financial literacy and should not be considered tax or legal advice. It is not meant to serve as a forecast, research report, or investment recommendation, nor should it be taken as an offer or solicitation to buy or sell any securities or adopt any particular investment strategy. All financial, tax, and legal decisions should be made with the help of a qualified professional. We do not guarantee the accuracy, timeliness, or outcomes associated with the use of this content.
Dear reader,
It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.
Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!
Warmest regards,
The Moneymade team
Image by HeatherPaque from Pixabay
Image by LoggaWiggler from Pixabay
Photo by Jeremy Bishop on Unsplash
Photo by Ammie Ngo on Unsplash
Photo by Foroozan Faraji on Unsplash
