Least valued currency unit

The least valued currency unit is the currency in which a single unit buys the least number of any given other currency or the smallest amount of a given good. Most commonly, the calculation is made against a major reserve currency such as the euro (EUR) or the United States dollar (USD). Sub-units are GeneRally not considered when looking for the least valued currency: for example, while a British pound sterling might be considered, a British penny would not be.

Historical least valued currencies

Many currencies are not permitted to float on the foreign exchange market, to prevent capital flight or for political reasons. As a result, the parallel market (black market) price of a currency may deviate substantially from its official value.

Current least valued currency units

As of 1 January, 2008, the list of the least valued currencies included 24 currencies for which 1 USD was worth more than (or almost, in the case of South Korean won) 1,000 currency units.

In addition

• If black market rates were used, the North Korean won and Myanmar kyat would be included on the list. The North Korean won is believed to be worth about 2000 to the US dollar and the Myanmar kyat is worth about 1250 to the US dollar.

• Somaliland, not widely recognised as an independent sovereign state, issues its own currency, the Somaliland shilling. As of 2001, the official exchange rate of the Somaliland Central Bank was 4,500 shillings for 1 US dollar. Unofficial exchange rates fluctuate between 4,000 and 5,000 shillings per dollar.

• Zimbabwean dollar held the first place before its redenomination and devaluation on August 1, 2006. The dollar was redenominated from 1000 old dollars to 1 revalued dollar. In addition, there was a 60% devaluation to the US dollar, from 101,000 ZWD/USD to 250 revalued (250,000 old) ZWD/USD (official rate).

On November 30, 2007, it was reported that 1 USD could be exchanged for 4.0 million Zimbabwean revalued dollars in parallel markets in electronic transactions. . In cash transactions, the rate is lower, around 2 million or so.

{|class="wikitable" ! No. !! State !! Currency !! Abbr !! December 20 2007
1 USD = !! Value in
Zimbabwean dollars !! Highest valued coin
(if any) !! Highest valued banknote |- |1. || || revalued dollar *† || ZWD || c. 2,000,000|| 1.00 || None in use || 750,000 Bearer Cheque (c. 40¢) |- |2. || || đồng || VND || 16,035.00 || 124.7 || 5,000 (31.2¢) || 500,000 ($31.18) |- |3. || || dobra || STD || 14,050.00 || 142.3 || 2,000 (14.2¢) || 50,000 ($3.56) |- |4. || || rupiah || IDR || 9,431.34 || 212.1 || 1,000 (10.6¢, uncommon)
500 (5.3¢) || 100,000 ($10.60) |- |5. || || kip || LAK || 9,367.40 || 213.5 || None in use || 50,000 ($5.34) |- |6. || || rial† || IRR || 9,331.00 || 214.3 || 500 (5.4¢) ||50,000 (legal tender; $5.36)
5,000,000 ("cash cheque"; $535.85) |- |7. || || manat || TMM || 5,200.05 || 384.6 || 1,000 (19.2¢) || 10,000 ($1.92) |- |8. || || guaraní || PYG || 4,670.00 || 428.3 || 1,000 (21.4¢) || 100,000 ($21.41) |- |9. || || franc || GNF || 4,267.75 || 468.6 || 50 (1.2¢) || 10,000 ($2.34) |- |10. || || riel || KHR || 3,939.70 || 507.7 || None in use || 100,000 ($25.38) |- |11. || || kwacha || ZMK || 3,750.00 || 533.3 || None in use || 50,000 ($13.33) |- |12. || || leone || SLL || 2,935.00 || 681.4 || 500 (17.0¢, uncommon)
100 (3.4¢) || 10,000 ($3.41) |- |13. || || ruble || BYR || 2,151.71 || 929.5 || None in use || 100,000 ($46.47) |- |14. || || peso † || COP || 1,999.00 || 1,001 || 500 (25.0¢) || 50,000 ($25.01) |- |15. || || ariary || MGA || 1,800.00 || 1,111 || 50 (2.8¢) || 10,000 ($5.56) |- |16. || || shilling || UGX || 1,690.00 || 1,183 || 500 (29.6¢) || 50,000 ($29.59) |- |17. || || pound || LBP || 1,512.00 || 1,323 || 500 (33.1¢) || 100,000 ($66.14) |- |18. || || shilling || SOS || 1,345.00 || 1,487 || 100 (7.4¢) || 1,000 (74.3¢) |- |19. || || som || UZS || 1,285.65 || 1,556 || 50 (3.9¢) || 1,000 (77.8¢) |- |20. || || dinar || IQD || 1,214.70 || 1,646 || 100 (8.2¢) || 25,000 ($20.58) |- |21. || || tögrög || MNT || 1,172.00 || 1,706 || 500 (42.7¢) || 20,000 ($17.06) |- |22. || || shilling || TZS || 1,128.00 || 1,773 || 200 (17.7¢) || 10,000 ($8.87) |- |23. || || franc || BIF || 1,117.00 || 1,791 || 10 (0.9¢) || 10,000 ($8.95)) |- |24. || || won ‡ || KRW || 942.770 || 2,121 || 500 (53.0¢) || 10,000 (banknote; $10.61)
100,000 (bank cheque; $106.07) |- | colspan=9 | Value of Zimbabwean dollar taken from Zimbabwesituation.com |- | colspan=9 | Data for other currencies taken from Xe.com |}

Notes : † – Redenomination is currently being considered.

‡ – The least valued currency of any OECD member state.

* – The official exchange rate is pegged at 30,000 ZWD = $1 USD, as of September 7, 2007

See also

• Highest valued currency unit
• Devaluation
• Inflation
• Hyperinflation
• Denomination (currency)

References

• www.xe.com
• www.oanda.com

ca:Unitat monetària de valor més baix id:Mata uang termurah vi:Đơn vị tiền tệ có giá trị thấp nhất