Rupiah Joins List of 10 Least Valuable Currencies

The Indonesian Rupiah is among the world's least valuable currencies. Its low value is due to its extremely low exchange rate against the United States dollar (USD). The strength or weakness of a currency is usually influenced by a country's macroeconomic fundamentals. These include trade deficits, low interest rates, debt levels, and the country's economic and political conditions.

The Indonesian Rupiah (IDR) ranks among the five weakest currencies. Its exchange rate against the US dollar is around Rp 13,118. Meanwhile, the world's weakest currency against the US dollar is the Iranian Rial (IRR). On November 10, 2016, the Iranian Rial's exchange rate against the US dollar was 31,863, based on Yahoo Finance conversion.

Previously, the Zimbabwean dollar was the world's weakest currency. Its exchange rate against the US dollar reached Z$ 300 trillion. However, in 2009, the Zimbabwean government officially abandoned the Zimbabwean dollar, using foreign currencies such as the South African Rand, the Indian Rupee, and the Chinese Yuan for transactions within the country.