An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

[yota691]

An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

2023-07-18 10:59

Shafaq News/ The American "Forbes" magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.

 

The American report, translated by Shafaq News agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.

 

Currency pricing

 

The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the "exchange rate".

 

The report indicated that most currencies are "floating", which means that their value fluctuates according to supply and demand, but some currencies are "pegged", which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.

 

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.

 

He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.

 

Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.

 

Iranian riyal

 

The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

 

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

 

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

 

Despite Iran's leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

 

Vietnamese dong

 

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978.

 

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

 

Laotian Cape

 

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

 

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency.

 

Sierra Leone

 

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

 

He added that the main exports of Sierra Leone include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

 

Indonesian rupiah

 

The Indonesian rupiah is considered the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to a free float.

 

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

 

Lebanese pound

 

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

 

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

 

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

 

Som Uzbekistan

 

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

 

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

 

Guinea franc

 

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating.

 

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

 

Paraguayan Guaraní

 

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

 

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

 

Ugandan shilling

 

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

 

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.

[rvmydinar]

12 minutes ago, yota691 said:

Iranian riyal

 

The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

 

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

 

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

 

Despite Iran's leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

 

Vietnamese dong

 

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978.

 

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

 

Laotian Cape

 

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

 

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency.

 

Sierra Leone

 

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

 

He added that the main exports of Sierra Leone include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

 

Indonesian rupiah

 

The Indonesian rupiah is considered the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to a free float.

 

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

 

Lebanese pound

 

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

 

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

 

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

 

Som Uzbekistan

 

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

 

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

 

Guinea franc

 

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating.

 

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

 

Paraguayan Guaraní

 

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

 

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

 

Ugandan shilling

 

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

 

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.

Just wonder , Among 10 weakest monetary currencies in the world , which one is going to pop first?? By the way , where is Iraq dinar?? What happens to Iraq dinar? Why is Iraq dinar not included among 10 weakest currencies in the world?

[rvmydinar]

Is Iraq dinar ALREADY considered as one of the Strongest currencies since Iraq dinar isn't included among 10 weakest currencies in the world?? Or am I missing something??

[Officiallytook]

30 minutes ago, rvmydinar said:

Is Iraq dinar ALREADY considered as one of the Strongest currencies since Iraq dinar isn't included among 10 weakest currencies in the world?? Or am I missing something??

Yeah we gotta D not an F...

[rvmydinar]

34 minutes ago, Officiallytook said:

Yeah we gotta D not an F...

What does " D " stand for? Dumb or dumber? Hopefully , we aren't dumb enough to wait for the IQD to come to fruition one day.

[horsesoldier]

Going with F for FAIL 

[rvmydinar]

39 minutes ago, horsesoldier said:

Going with F for FAIL 

Not a chance. F doesn't mean the end of the world. F still implies Hope.

[Laid Back]

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

[Dretown39]

8 minutes ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

Exactly!!💯 Hurry up Iraq!! GEEZ LAWEEZ!!

[NMP2017]

12 minutes ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

Kuwait ain't run by idiots...lol

YES GO STRONGER DINAR!

[Sneekee12]

Maybe they didn't consider the Iraqi Dinar because it isn't a globally recognized currency yet? 

[rvmydinar]

6 minutes ago, Sneekee12 said:

Maybe they didn't consider the Iraqi Dinar because it isn't a globally recognized currency yet? 

Is Iranian Riyal already a globally recognized currency yet??

[Officiallytook]

48 minutes ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

That's what I was waiting for the facts some positive facts... Looks like they could have their currency valued at 4.50$

[southbeach]

56 minutes ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

Praise Jesus here

[3n1]

Kuwait only has to take care of a little more than 4 million civilized people in contrast iraq has more than 45 million people and most all needing assistance of some kind ..... we wait

[RV-2-Day]

All are missing a critical number.   What is the amount of currency in the market for Iraq & Kuwait?   Divide the resources by that for the applicable/comparable rate

[dinareffic]

2 hours ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

Well put laidback. Numbers don’t lie. Only politicians do 

[Woldopep]

1 hour ago, RV-2-Day said:

All are missing a critical number.   What is the amount of currency in the market for Iraq & Kuwait?   Divide the resources by that for the applicable/comparable rate

Will someone please answer what RV-2 day’ question. Would love to know the answer. Thank you in advance. 

[markb57]

could it be the fact that the Iraqi Dinar is not international???????

[dinarham]

  Last I checked , the IQD is not pegged to any other currency . Only the CBI would have the authority to do this.

[southbeach]

I believe it’s paired with the USD.  Is that the same?

[3n1]

5 hours ago, Woldopep said:

Will someone please answer what RV-2 day’ question. Would love to know the answer. Thank you in advance. 

 

maybe rv 2 day should break it all down to enlighten the non enlightened ... cheers 

[screwball]

18 hours ago, Laid Back said:

“Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.”

 

 

Iraq foreign currency reserves $113 billion dollars 

Iraq gold reserves 132.6 Tons 

Iraq oil production 3.5 million barrels 

iraq oil reserves 143 billion barrels 

1 Iraqi dinar = $0.00076

 

 

Kuwait foreign currency reserves $45.9 billion dollars 

kuwait Gold reserves 78.97 Tons

kuwait oil production per day 2.7 million barrels 

kuwait oil reserves 101 billion barrels

1 kuwaití dinar = $3.26

 

Something is not right with this picture. Just compare the numbers.!
 

GO STRONGER DINAR.

Delivering the goods as usual LB! Well done! Pretty much says it all

[dinarham]

17 hours ago, southbeach said:

I believe it’s paired with the USD.  Is that the same?

I believe they are different ,we need an expert to weigh in .

[southbeach]

Can the IQD be paired with multiple currencies to qualify for Forex trading, or must it only be paired with one other currency (USD)?