The Iranian rial is the “weakest currency in the world as economic sanctions have put pressure on Iran’s currency, along with political unrest and high inflation,” Forbes said in a recent report.
According to the economic magazine, one rial buys only 0.000024 dollars – or 1 dollar equals 42,273 rials. However, the report addressed the official exchange rate for its ranking – not the rate in the open market, which currently stands at 488,000 rials for one dollar.
Forbes ranked the Vietnamese dong and the Laotian kip as the world’s second and third weakest currencies. Kuwait, Bahrain, and Oman had the strongest currencies.
