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
At first, it sounds like guidance—“You’d look more professional if you smiled” or “Try some makeup; it’ll help your image”. But when comments like these come from your boss and are tied to your pay, they stop being advice and start being discrimination.
If this happens to you, there are legal protections in place, and this piece unpacks how to protect yourself while keeping your job safe.
An employee's refusal to take a better job offer may seem baffling at first, but her stems from the very real fear of losing federal benefits.
If you find a large sum of cash that was hidden away in a deceased relative's home, the old saying "finders keepers" doesn't necessarily apply.
Father Jamie MacLeod’s £400 antiques-shop painting hung quietly on a retreat-house wall for years. It looked like a simple old portrait—pleasant, a little mysterious, but nothing remarkable. Then one casual visit to Antiques Roadshow turned that quiet purchase into one of the show’s most extraordinary discoveries.
Most jury duty lasts only a few days, but some trials can stretch into weeks or even months. If your employer stops paying you during this time, you may be facing a financial crisis.
Franchising a restaurant offers a ready-made business model and a path to success for those willing to take the risk and put in the work.
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
