Least valued currency unit
Encyclopedia
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 United States
dollar
(USD) or the euro
(EUR). Sub-units are 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.
In addition:
Notes : + – Redenomination
is currently being considered.
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.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
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
Reserve currency
A reserve currency, or anchor currency, is a currency that is held in significant quantities by many governments and institutions as part of their foreign exchange reserves...
such as the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
(USD) or the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
(EUR). Sub-units are not considered when looking for the least valued currency: for example, while a British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
pound sterling
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
might be considered, a British penny
Penny
A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...
would not be.
Current least valued currency units
As of January 23, 2011, there were 42 currencies for which 1 USD was worth over 100 units.In addition:
- SomalilandSomalilandSomaliland is an unrecognised self-declared sovereign state that is internationally recognised as an autonomous region of Somalia. The government of Somaliland regards itself as the successor state to the British Somaliland protectorate, which was independent for a few days in 1960 as the State of...
, not widely recognised as an independent sovereign stateSovereign stateA sovereign state, or simply, state, is a state with a defined territory on which it exercises internal and external sovereignty, a permanent population, a government, and the capacity to enter into relations with other sovereign states. It is also normally understood to be a state which is neither...
, issues its own currency, the Somaliland shillingSomaliland shillingThe Somaliland shilling is the official currency of Somaliland, a de facto independent republic which is recognized as a part of Somalia. It was introduced on 18 October 1994 at one new Somaliland shilling to 100 Somali shillings...
. The Somaliland Central Bank currently has no official exchange rate. As of December 2008, the rate of the shilling was 7,500 to the US dollar
- Zimbabwe's currency, the Zimbabwean dollarZimbabwean dollarThe Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009....
, was indefinitely suspended on 12 April 2009, and is not included on this list.
| No. | State | Currency | Abbr | 1 US dollar United States dollar The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies.... = (as of Jan 1, 2011) | 1 Euro Euro The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,... = (as of Jan 1, 2011) | Highest valued coin (if any) | Highest valued banknote | Notes |
|---|---|---|---|---|---|---|---|---|
| 1. | shilling Somali shilling The Somali shilling is the official currency of Somalia... |
SOS | 33,300 | 44,600 | None in use | 1,000 (3¢) | Official rate: 1 USD = 1,625.62 SOS (as of 6/11/2011) | |
| 2. | đồng | VND | 19,487.70 | 26,093.06 | 5,000 (26¢) | 500,000 ($25.66) | ||
| 3. | dobra São Tomé and Príncipe dobra The dobra is the currency of São Tomé and Príncipe. It is abbreviated Db and is divided into 100 cêntimos, although inflation has rendered the cêntimo obsolete. The dobra was introduced in 1977, replacing the escudo at par.... |
STD | 18,260.00 | 24,449.23 | 2,000 (11¢) | 100,000 ($5.48) | ||
| 4. | + | rial Iranian rial The rial is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting.... |
IRR | 10,349.59 | 13,857.58 | 5000 (48¢) | 100,000 (legal tender; $9.66) 2,000,000 ("cash cheque"; $193.26) |
To be redenominated Redenomination Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented.... in 2011 |
| 5. | + | rupiah Indonesian rupiah The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah... |
IDR | 8765.01 | 12,421.76 | 1,000 (11¢, uncommon) 500 (5¢, common) |
100,000 ($11.41) | |
| 6. | kip Lao kip The kip "Currency Lao Kip") is the currency of Laos since 1952. One kip is divided into 100 att . The official name is: ເງີນກີບລາວ, lit. Other languages say: ; code: LAK; sign: ' or ', encoded .-Free Lao Kip:... |
LAK | 8,051.30 | 10,780.29 | None in use | 50,000 ($6.21) | ||
| 7. | franc Guinean franc -First Guinean franc:The first Guinean franc was introduced in 1959 to replace the CFA franc. There were 1, 5, 10 and 25 francs coins with banknotes in 50, 100, 500, 1000, 5000 and 10,000 francs denominations. A second series of banknotes was issued in 1960, without the 10,000 francs... |
GNF | 6,925.00 | 9,272.23 | None in use | 10,000 ($1.44) | ||
| 8. | kwacha Zambian kwacha The kwacha is the currency of Zambia. It is subdivided into 100 ngwee.-Etymology:The name derives from the Nyanja and Bemba word for "dawn", alluding to the Zambian nationalist slogan of a "new dawn of freedom"... |
ZMK | 4,797.51 | 6,423.63 | None in use | 50,000 ($10.42) | ||
| 9. | + | guaraní Paraguayan guaraní The guaraní is the national currency unit of Paraguay. The guaraní was divided into 100 céntimos but, because of inflation, céntimos are no longer in use.The currency sign is .-History:... |
PYG | 4,642.55 | 6,216.14 | 1,000 (22¢) | 100,000 ($21.54) | To be redenominated Redenomination Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented.... in 2011 |
| 10. | leone Sierra Leonean leone -Banknotes:In 1964, the Bank of Sierra Leone introduced notes in denominations of 1, 2 and 5 leones. 50 cents notes were added in 1979, followed by 10 leones in 1980 and 20 leones in 1982... |
SLL | 4,120.00 | 5,516.47 | 500 (12¢, uncommon) 100 (2¢) |
10,000 ($2.43) | ||
| 11. | riel Cambodian riel For earlier Cambodian currencies, see Cambodian tical and Cambodian franc.The riel is the currency of Cambodia. There have been two distinct riel, the first issued between 1953 and May 1975. Between 1975 and 1980, the country had no monetary system. A second currency, also named "riel", has been... |
KHR | 4,037.86 | 5,516.47 | None in use | 100,000 ($24.77) | ||
| 12. | ruble Belarusian ruble The ruble is the currency of Belarus. The symbol for the ruble is Br and the ISO 4217 code is BYR.-First ruble, 1992–2000:The breakup of supply chain in the former Soviet enterprises demanded that goods be bought and sold on the market, often requiring cash settlement... |
BYR | 2,999.14 | 4,015.70 | None in use | 100,000 ($33.34) | ||
| 13. | shilling Ugandan shilling The Shilling is the currency of Uganda. Technically, the shilling is subdivided into 100 cents but no subdivisions have been issued since the revaluation of the shilling in 1987.-History:... |
UGX | 2,308.28 | 3,090.67 | 500 (22¢) | 50,000 ($21.66) | ||
| 14. | ariary Malagasy ariary The ariary is the currency of Madagascar. It is subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating . The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary being the name for a silver dollar... |
MGA | 2,120.00 | 2,838.57 | 50 (2¢) | 10,000 ($4.72) | ||
| 15. | won North Korean won The won is the currency of North Korea . It is subdivided into 100 chon. The won is issued by the Central Bank of the Democratic People's Republic of Korea... |
KPW | 2,050 | 2,750 | 1 (0.05¢) | 5,000 ($2.44) | Official rate: 1 USD = 143 KPW | |
| 16. | + | peso Colombian peso The peso is the currency of Colombia. Its ISO 4217 code is COP and it is also informally abbreviated as COL$. However, the official peso symbol is $. As 20 July 2011, the exchange rate of the Colombian peso is 1750 Colombian pesos to 1 U.S. dollar.-History:The peso has been the currency of Colombia... |
COP | 1,850 | 2,526 | 500 (27¢) | 50,000 ($27.02) | |
| 17. | som Uzbekistani som The som is the currency of Uzbekistan in Central Asia. The ISO 4217 currency code is UZS.-Etymology:In the Soviet Union, speakers of Kazakh, Kyrgyz and Uzbek called the ruble the som, and this name appeared written on the back of banknotes, among the texts for the value of the bill in all 15... |
UZS | 1,640.15 | 2,196.08 | 100 (6¢) | 1,000 ($0.61) | ||
| 18. | shilling Tanzanian shilling The shilingi is the currency of Tanzania, although widespread use of U.S. dollars is accepted. It is subdivided into 100 senti .The Tanzanian shilling replaced the East African shilling in 1966 at par.... |
TZS | 1,504.22 | 2,014.08 | 200 (13¢) | 10,000 ($6.65) | ||
| 19. | pound Lebanese pound The Lebanese pound is the currency unit of Lebanon. It is divided into 100 piastres but inflation has eliminated the subdivisions.... |
LBP | 1,504.22 | 2,009.35 | 500 (33¢) | 100,000 ($66.64) | Pegged to USD | |
| 20. | tögrög | MNT | 1,230.00 | 1,646.91 | 500 (41¢) | 20,000 ($16.26) | ||
| 21. | franc Burundian franc The franc is the currency of Burundi. It is nominally subdivided into 100 centimes, although coins have never been issued in centimes since Burundi began issuing its own currency... |
BIF | 1,218.86 | 1,631.99 | None in use | 10,000 ($8.20) | ||
| 22. | + | dinar Iraqi dinar The dinar is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1,000 fils , although inflation has rendered the fils obsolete.-History:... |
IQD | 1,168.69 | 1,564.82 | 100 (9¢) | 25,000 ($21.39) | |
| 23. | won South Korean won The won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates... ‡ |
KRW | 1,120.90 | 1,500.83 | 500 (45¢) | 50,000 ($44.61) | ||
| 24. | franc Congolese franc The franc is the currency of the Democratic Republic of Congo. It is subdivided into 100 centimes.-First franc, 1887-1967:During Belgian colonial rule, currency denominated in centimes and francs was issued for use in Congo. These francs were equal in value to the Belgian franc. From 1916, the... |
CDF | 915.07 | 1,225.23 | None in use | 500 (55¢) | ||
| 25. | kyat | MMK | 860 | 1,150 | 100 (12¢) | 5,000 ($5.81) | Official rate: 1 USD = 6.41 MMK | |
| 26. | franc Rwandan franc The Rwandan franc is the currency of Rwanda. It is subdivided into 100 centimes.-History:... |
RWF | 591.69 | 792.24 | 100 (17¢) | 5,000 ($8.45) | ||
| 27. | colón Costa Rican colón The colón is the currency of Costa Rica. The plural is colones in Spanish, but English speakers often say colons instead. The ISO 4217 code is CRC.... |
CRC | 507.58 | 679.62 | 500 (99¢) | 50,000 ($98.51) | ||
| 28. | Central Africa | CFA franc Central African CFA franc The Central African CFA franc is the currency of six independent states in central Africa, Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon. CFA stands for Coopération financière en Afrique centrale... |
XAF | 489.91 | 655.96 | 500 (102¢) | 10,000 ($20.41) | Pegged rate: 1 € = 655.957 XAF |
| 28. | West Africa | CFA franc West African CFA franc The West African CFA franc is the currency of eight independent states in West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Sénégal and Togo. The acronym CFA stands for Communauté financière d'Afrique... |
XOF | 489.91 | 655.96 | 500 ($1.02) | 10,000 ($20.41) | Pegged rate: 1 € = 655.957 XOF |
| 29. | peso Chilean peso The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. The symbol used locally for it is $. The ISO 4217 code for the present peso is CLP. It is subdivided into 100 centavos, although no centavo denominated coins... |
CLP | 467.71 | 626.24 | 500 ($1.07) | 20,000 ($42.76) | ||
| 30. | franc Comorian franc The franc is the official currency of Comoros. It is nominally subdivided into 100 centimes, although no centime denominations have ever been issued.-History:... |
KMF | 367.43 | 491.97 | 100 (27¢) | 10,000 ($27.22) | Pegged rate: 1 € = 491.968 KMF | |
| 31. | dram Armenian dram The dram is the monetary unit of Armenia and the Nagorno-Karabakh Republic. It is subdivided into 100 luma . The word "dram" translates into English as "money" and is cognate with the Greek drachma... |
AMD | 363.44 | 486.63 | 500 ($1.38) | 100,000 ($275.15) | ||
| 32. | ouguiya Mauritanian ouguiya The ouguiya , also spelt "ougiya," is the currency of Mauritania. It is the only circulating currency other than the Malagasy ariary whose division units are not based on a power of ten, each ouguiya comprising five khoums .The ouguiya was introduced in 1973, replacing the CFA franc at a rate of 1... |
MRO | 281.20 | 376.51 | 20 (7¢) | 2,000 ($7.11) | ||
| 33. | rial Yemeni rial The rial or riyal is the currency of Yemen. It is technically divided into 100 fils, although coins denominated in fils have not been issued since Yemeni unification.-History:... |
YER | 213.50 | 285.87 | 20 (9¢) | 1,000 ($4.68) | ||
| 34. | forint Hungarian forint The forint is the currency of Hungary. It is divided into 100 fillér, although fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step of the post-WWII stabilization of the Hungarian economy, and the currency remained relatively stable until... |
HUF | 207.50 | 285.87 | 200 (96¢) | 20,000 ($96.39) | ||
| 35. | dollar Guyanese dollar The Guyanese dollar has been the unit of account in Guyana since 29 January 1839. Originally it was intended as a transitionary unit to facilitate the changeover from the Dutch guilder system of currency to the British pound sterling system... |
GYD | 203.20 | 272.07 | 10 (5¢) | 1,000 ($4.92) | ||
| 36. | franc Djiboutian franc The franc is the currency of Djibouti. The ISO 4217 currency code is DJF. Historically it was subdivided into 100 centimes.- History :... |
DJF | 177.71 | 238.00 | 500 ($2.81) | 10,000 ($56.26) | Pegged rate: 1 USD = 177.711 DJF | |
| 37. | naira Nigerian naira The naira is the currency of Nigeria. It is subdivided into 100 kobo.The Central Bank of Nigeria is the sole issuer of legal tender money throughout the Federation. It controls the volume of money supply in the economy in order to ensure monetary and price stability... |
NGN | 152.07 | 203.61 | 2 (1¢) | 1,000 ($6.58) | ||
| 38. | kwacha Malawian kwacha The kwacha is the currency of Malawi as of 1971, replacing the Malawian pound. It is divided into 100 tambala. The kwacha replaced other types of currency, namely British, South African and Rhodesian, that had previously circulated through the Malawian economy... |
MWK | 151.52 | 202.88 | 10 (7¢) | 500 ($3.30) | ||
| 39. | tenge Kazakhstani tenge The tenge is the currency of Kazakhstan. It is divided into 100 tïın . It was introduced on 15th of November 1993 to replace the Soviet ruble at a rate of 1 tenge = 500 rubles... |
KZT | 147.29 | 197.21 | 100 (68¢) | 10,000 ($67.89) | ||
| 40. | krona Icelandic króna The króna is the currency of Iceland. The króna is technically subdivided into 100 aurar , but in practice this subdivision is no longer used.... |
ISK | 115.05 | 154.05 | 100 (87¢) | 5,000 ($43.46) | The krona is currently not traded freely, with the last ECB reference rate having been set on 3 Dec 08 | |
| 41. | rupee Sri Lankan rupee The rupee is the currency of Sri Lanka, divided into 100 cents. It is issued by the Central Bank of Sri Lanka and is generally written Rs. The rupee (Sinhala: රුපියල , Tamil: ரூபாய்) (sign: ₨; code: LKR) is the currency of Sri Lanka, divided into 100 cents. It is issued by the Central Bank of Sri... |
LKR | 110.89 | 148.48 | 10 (9¢) | 2,000 ($18.04) | ||
| 42. | lek Albanian lek The lek is the official currency of Albania. It is subdivided into 100 qindarka , although qindarka are no longer issued.-Names:... |
ALL | 104.78 | 140.30 | 100 (95¢) | 5,000 ($47.72) | ||
| Data for all other currencies taken from exchange-rates.org & xe.com unless noted otherwise. | ||||||||
Notes : + – Redenomination
Redenomination
Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented....
is currently being considered.
- ‡ – The least valued currency of any OECDOrganisation for Economic Co-operation and DevelopmentThe Organisation for Economic Co-operation and Development is an international economic organisation of 34 countries founded in 1961 to stimulate economic progress and world trade...
member state
Historical least valued currencies
| Start Date | Finish Date | Country | Currency Unit | Units per US Dollar | Notes |
|---|---|---|---|---|---|
| - | 21 May 1911 | Portuguese real Portuguese real The real was the unit of currency of Portugal from around 1430 until 1911. It replaced the dinheiro at the rate of 1 real = 840 dinheiros and was itself replaced by the escudo at a rate of 1 escudo = 1000 réis... |
900 | new currency: 22 May 1911: 1 escudo Portuguese escudo The escudo was the currency of Portugal prior to the introduction of the Euro on 1 January 1999 and its removal from circulation on 28 February 2002. The escudo was subdivided into 100 centavos.... = 1,000 réis |
|
| 22 May 1911 | Mid-1920 | Brazilian real Brazilian real (old) The first official currency of Brazil was the real . Its sign was Rs$. It was adopted as the official currency of Brazil in 1790, and remained in use until 1942, when it was replaced by the cruzeiro.... |
900 - 5,000 | ||
| Mid-1920 | 31 Dec 1921 |  RussiaRussia Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects... |
Soviet first ruble Soviet ruble The Soviet ruble or rouble was the currency of the Soviet Union. One ruble is divided into 100 kopeks, .... |
5,000 - 60,000 | new currency 1 Jan 1922: 1 second Soviet ruble = 10,000 first Soviet rubles |
| 1 Jan 1922 | September 1922 | Austrian krone Austrian krone The Krone was the currency of Austria and Liechtenstein after the dissolution of the Austro-Hungarian Empire until the introduction of the Schilling and the Franken, respectively.-Coins:... |
4,500 - 12,500 | German papiermark German papiermark The name Papiermark is applied to the German currency from the 4th August 1914 when the link between the Mark and gold was abandoned, due to the outbreak of World War I... inflates |
|
| September 1922 | 31 Dec 1923 | .svg.png) Weimar RepublicWeimar Republic The Weimar Republic is the name given by historians to the parliamentary republic established in 1919 in Germany to replace the imperial form of government... |
Mark German papiermark The name Papiermark is applied to the German currency from the 4th August 1914 when the link between the Mark and gold was abandoned, due to the outbreak of World War I... |
12,500 - 4,000,000,000,000 | new currency 1 Jan 1924: 1,000,000,000,000 Papiermark = 1 Rentenmark |
| 1 Jan 1924 | 13 Apr 1924 | Polish marka Polish marka The marka was the currency of the Kingdom of Poland and of the Republic of Poland between 1917 and 1924... |
5,000,000 - 9,324,000 | new currency 14 Apr 1924 1 Polish zloty Polish zloty The złoty , which literally means "golden", is the currency of Poland. The modern złoty is subdivided into 100 groszy . The recognized English form of the word is zloty, plural zloty or zlotys... = 1,800,000 marek |
|
| 14 Apr 1924 | 19 Dec 1924 | Austrian krone | 26,000 - 45,000 | new currency 20 Dec 1924: 1 schilling Austrian schilling The schilling was the currency of Austria from 1924 to 1938 and from 1945 to 1999, and the circulating currency until 2002. The euro was introduced at a fixed parity of €1 = 13.7603 schilling to replace it... = 10,000 Austrian kronen Austro-Hungarian krone The Krone or korona was the official currency of the Austro-Hungarian Empire from 1892 until the dissolution of the empire in 1918... |
|
| 20 Dec 1924 | 31 Dec 1926 | Hungarian korona Hungarian korona The Hungarian korona was the replacement currency of the Austro-Hungarian Krone/korona amongst the boundaries of the newly created post-World War I Hungary. It suffered a serious inflation and was replaced by the pengő in 1925... |
7,000 - 63,000 | new currency 1 Jan 1927: 1 pengő Hungarian pengo The pengő was the currency of Hungary between 1 January 1927, when it replaced the korona, and 31 July 1946, when it was replaced by the forint. The pengő was subdivided into 100 fillér... = 12,500 Hungarian korona Hungarian korona The Hungarian korona was the replacement currency of the Austro-Hungarian Krone/korona amongst the boundaries of the newly created post-World War I Hungary. It suffered a serious inflation and was replaced by the pengő in 1925... |
|
| 1 Nov 1942 | 9 Nov 1944 | Greek drachma Greek drachma Drachma, pl. drachmas or drachmae was the currency used in Greece during several periods in its history:... |
3,500 - 7,500,000,000,000 | new currency : 50,000,000,000 old drachmai = 1 new drachma | |
| Nov 10 1944 | August 1945 | leu Romanian leu The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL... |
3,500 - 25,000 | ||
| August 1945 | August 1946 |  HungaryHungary Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The... |
pengő Hungarian pengo The pengő was the currency of Hungary between 1 January 1927, when it replaced the korona, and 31 July 1946, when it was replaced by the forint. The pengő was subdivided into 100 fillér... |
changed daily | Hungarian pengő hyperinflates; new currency 18 Aug 1946: 1 forint = 400,000,000,000,000,000,000,000,000,000 pengő |
| 19 Aug 1946 | 14 Aug 1947 | leu Romanian leu The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL... |
100,000 - 5,050,000 | new currency 15 Aug 1947: 20,000 leu = 1 new Romanian leu Romanian leu The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL... |
|
| 15 Aug 1947 | 30 Nov 1948 | Fabi Chinese yuan The yuan is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.A yuán is also known colloquially as a kuài . One yuán is divided into 10 jiǎo or colloquially máo... |
250,000 - 105,000,000 | new currency 1 Dec 1948: 1 gold yuan = 3,000,000 fabi | |
| 1 Dec 1948 | 30 Apr 1954 | drachma Greek drachma Drachma, pl. drachmas or drachmae was the currency used in Greece during several periods in its history:... |
20,000 - 30,000 | new currency 1 May 1954: 1,000 drachmai = 1 new drachma | |
| 1 May 1954 | 28 Feb 1955 | yuan Chinese yuan The yuan is the base unit of a number of modern Chinese currencies. The yuan is the primary unit of account of the Renminbi.A yuán is also known colloquially as a kuài . One yuán is divided into 10 jiǎo or colloquially máo... |
24,600 | new currency 1 March 1955: 10,000 First Series Renminbi yuan Renminbi The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC... = 1 Second Series Renminbi yuan |
|
| 1 Mar 1955 | 5 Jan 1958 | Italian lira Italian lira The lira was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro... |
625 | ||
| 6 Jan 1958 | 31 Dec 1959 | Chilean peso Chilean peso The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. The symbol used locally for it is $. The ISO 4217 code for the present peso is CLP. It is subdivided into 100 centavos, although no centavo denominated coins... |
650 - 1,051 | new currency 1 January 1960 : 1,000 pesos = 1 Chilean escudo Chilean escudo The escudo was the currency of Chile between 1960 and 1975, divided into 100 centésimos. It replaced the peso at a rate of 1 escudo = 1000 pesos and was itself replaced by a new peso, at a rate of 1 peso = 1000 escudos... |
|
| 1 Jan 1960 | 31 Dec 1962 | Bolivian boliviano Bolivian boliviano The boliviano is the currency of Bolivia. It is divided into 100 centavos. Boliviano was also the name of the currency of Bolivia between 1864 and 1963.-First boliviano:... |
750 - 11,875 | new currency 1 January 1963: 1,000 bolivianos = 1 Bolivian peso Bolivian peso The peso boliviano , divided into 100 centavos, was the currency of Bolivia from January 1, 1963 until December 31, 1985. It replaced the boliviano at 1 peso boliviano = 1000 bolivianos... |
|
| 1 Jan 1963 | 12 Dec 1965 | Indonesian rupiah Indonesian rupiah The rupiah is the official currency of Indonesia. Issued and controlled by the Bank of Indonesia, the ISO 4217 currency code for the Indonesian rupiah is IDR. Informally, Indonesians also use the word "perak" in referring to rupiah... |
1,205 - 4,995 | new currency 13 December 1965: 1,000 old rupiah = 1 new rupiah | |
| 13 Dec 1965 | 12 Feb 1967 | Brazilian cruzeiro Brazilian cruzeiro The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993. The name refers to the constellation of the Southern Cross, known in Brazil as Cruzeiro do Sul, or simply Cruzeiro .... (BRZ) |
1,950 - 2,710 | new currency 13 February 1967: 1,000 cruzeiros = 1 Cruzeiro novo Brazilian cruzeiro The cruzeiro was the currency of Brazil from 1942 to 1986 and again between 1990 and 1993. The name refers to the constellation of the Southern Cross, known in Brazil as Cruzeiro do Sul, or simply Cruzeiro .... |
|
| 13 Feb 1967 | Mid-June 1974 | Italian lira Italian lira The lira was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro... |
620 - 640 | ||
| Mid-June 1974 | 28 Sep 1975 | Chilean escudo Chilean escudo The escudo was the currency of Chile between 1960 and 1975, divided into 100 centésimos. It replaced the peso at a rate of 1 escudo = 1000 pesos and was itself replaced by a new peso, at a rate of 1 peso = 1000 escudos... |
640 - 6,000 | new currency 29 Sep 1975 : 1000 escudo = 1 Chilean peso Chilean peso The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. The symbol used locally for it is $. The ISO 4217 code for the present peso is CLP. It is subdivided into 100 centavos, although no centavo denominated coins... |
|
| 29 Sep 1975 | November 1978 | Italian lira Italian lira The lira was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro... |
680 - 850 | ||
| November 1978 | 31 May 1983 | Argentine peso ley Argentine peso ley The peso ley 18.188, usually known as either peso or, to distinguish it from the earlier peso moneda nacional, informally as peso ley, was the currency of Argentina between January 1, 1970 and May 5, 1983. It was subdivided into 100 centavos. Its symbol was $, sometimes $L. Its name comes from law... |
850 - 81,105 | new currency 1 June 1983 : 10,000 pesos ley = 1 peso argentino Argentine peso argentino The peso argentino was the currency of Argentina between June 6, 1983 and June 14, 1985. It was subdivided into 100 centavos. The symbol was $a. The ISO 4217 code was ARP.-History:... |
|
| 1 June 1983 | 21 Nov 1984 | Peruvian sol Peruvian sol The sol, was the currency of Peru between 1863 and 1985. It had the ISO 4217 currency code PEH. It was subdivided into 10 dineros or 100 centavos.-History:... |
1,494 - 4,969 | Bolivian peso Bolivian peso The peso boliviano , divided into 100 centavos, was the currency of Bolivia from January 1, 1963 until December 31, 1985. It replaced the boliviano at 1 peso boliviano = 1000 bolivianos... devalues |
|
| 22 Nov 1984 | 4 January 1987 | Bolivian peso Bolivian peso The peso boliviano , divided into 100 centavos, was the currency of Bolivia from January 1, 1963 until December 31, 1985. It replaced the boliviano at 1 peso boliviano = 1000 bolivianos... |
8,786 - 2,000,000 | new currency 5 January 1987 : 1,000,000 pesos = 1 boliviano Bolivian boliviano The boliviano is the currency of Bolivia. It is divided into 100 centavos. Boliviano was also the name of the currency of Bolivia between 1864 and 1963.-First boliviano:... |
|
| 5 January 1987 | 31 January 1988 | Nicaraguan córdoba Nicaraguan córdoba - History :The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba & was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.... |
6,000 - 50,000 | new currency 1 February 1988 : 10,000 old córdobas = 1 new córdoba | |
| 1 February 1988 | June 1988 | Vietnamese đồng (VND) | 1,700 - 4,500 | Dong devalued from 900 to 3000 http://books.google.com/books?id=JXZMH8W-JtgC&pg=PA182&lpg=PA182&dq=devaluation+of+dong+1989&source=web&ots=sJuDJbz5pE&sig=PuQPDOV44Ex8VJvcjxzBUcP842M&hl=en&sa=X&oi=book_result&resnum=1&ct=result | |
| June 1988 | 31 December 1989 | Yugoslav dinar Yugoslav dinar The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para... (YUD) |
4,500 - 40,000 | new currency 1 January 1990 : 10,000 hard dinar = 1 convertible dinar | |
| 1 January 1990 | 30 April 1991 | Nicaraguan córdoba Nicaraguan córdoba - History :The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba & was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.... |
40,000 - 25,000,000 (official) 350,000 - 30,000,000 (parallel) |
new currency 1 May 1991 : 5,000,000 1988 cordóbas = 1 hard córdoba Nicaraguan córdoba - History :The first córdoba was introduced on March 20, 1912. It replaced the peso at a rate of 12½ pesos = 1 córdoba & was initially equal to the US dollar. It was named after the founder of Nicaragua, Francisco Hernández de Córdoba.... |
|
| 1 May 1991 | 30 June 1991 | Peruvian inti Peruvian inti The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 céntimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.-History:The inti was... (PEI) |
705,000 - 835,000 | new currency 1 July 1991 : 1,000,000 intis = 1 nuevo sol Peruvian nuevo sol The nuevo sol plural: nuevos soles; currency sign: S/.) is the currency of Peru. It is subdivided into 100 cents, called céntimos in Spanish. The ISO 4217 currency code is PEN. It is most commonly referred to just as sol... (inti valid until 31 December 1991) |
|
| 1 July 1991 | October 1993 | Zairean Zaire Zairean zaire The zaïre was the unit of currency of the Democratic Republic of the Congo and then of the Republic of Zaïre from 1967 until 1997. There were two distinct currencies.-Zaïre, 1967-1993:... (ZRN) |
61,900 - 7,915,000 | new currency October 1993 : 3,000,000 Old Zaire = 1 New Zaire | |
| October 1993 | 10 Jan 1994 | Angolan novo kwanza Angolan kwanza The kwanza is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.-First Kwanza, AOK, 1977-1990:... (AON) |
34,200 | - | |
| 11 Jan 1994 | 23 Jan 1994 |  YugoslaviaYugoslavia Yugoslavia refers to three political entities that existed successively on the western part of the Balkans during most of the 20th century.... |
Yugoslav "1994 dinar" Yugoslav dinar The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para... |
46,000 - 6,850,000 | Changed daily due to hyperinflation new currency 24 Jan 1994: 10~13 million "1994 dinara" = 1 novi dinar (YUM) (pegged to 1 German mark German mark The Deutsche Mark |mark]], abbreviated "DM") was the official currency of West Germany and Germany until the adoption of the euro in 2002. It is commonly called the "Deutschmark" in English but not in German. Germans often say "Mark" or "D-Mark"... ) |
| 24 Jan 1994 | 30 June 1995 | Angolan novo kwanza Angolan kwanza The kwanza is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.-First Kwanza, AOK, 1977-1990:... (AON) |
34,200 - 2,100,000 | new currency 1 July 1995: 1,000 novos kwanzas (AON) = 1 new kwanza reajustado (AOR) | |
| 1 Jul 1995 | 1 Sep 1996 | Ukrainian karbovanets Ukrainian karbovanets The karbovanets has been a distinct unit of currency in Ukraine during three separate periods. The name is also used in the Ukrainian language for the Imperial ruble and the Soviet ruble, but not for the modern Russian ruble.... (UAK) |
147,300 - 176,000 | new currency 2 Sep 1996: 100,000 karbovanets (UAK) = 1 hryvnia Ukrainian hryvnia The hryvnia, sometimes hryvnya or grivna ; sign: ₴, code: , has been the national currency of Ukraine since September 2, 1996. The hryvnia is subdivided into 100 kopiyok. In medieval times, it was a currency of Kievan Rus'.... (UAH) |
|
| 2 Sep 1996 | 30 Nov 1999 | Angolan kwanza reajustado Angolan kwanza The kwanza is the currency of Angola. Four different currencies using the name kwanza have circulated since 1977.-First Kwanza, AOK, 1977-1990:... (AOR) |
150,000 - 5,400,000 | new currency 1 Dec 1999: 1,000,000 kwanzas reajustados (AOR) = 1 new Angolan kwanza (AOA) | |
| 1 Dec 1999 | 31 Dec 2004 | Turkish lira Turkish lira The Turkish lira is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş... (TRL) |
518,000 - 1,339,000 | new currency 1 Jan 2005: 1,000,000 old Turkish lira (TRL) = 1 new Turkish lira (TRY) (old lira valid to end of 2005) | |
| 1 Jan 2005 | 30 June 2005 | Romanian leu Romanian leu The leu is the currency of Romania. It is subdivided into 100 bani . The name of the currency means "lion". On 1 July 2005, Romania underwent a currency reform, switching from the previous leu to a new leu . 1 RON is equal to 10,000 ROL... (ROL) |
29,110 - 29,850 | new currency 1 July 2005: 10,000 old Romanian lei (ROL) = 1 new Romanian leu (RON) (old leu valid to 30 June 2006) | |
| 1 July 2005 | 24 Aug 2005 | Mozambican metical Mozambican metical The metical is the currency of Mozambique, abbreviated with the symbol MZN or MTn. It is nominally divided into 100 centavos.-First metical :... (MZM) |
24,400 | new currency 1 July 2006: 1,000 old Mozambique meticais (MZM) = 1 new Mozambique metical (MZN) (old metical valid to end of 2006) | |
| 24 Aug 2005 | 31 Jul 2006 | Zimbabwean dollar Zimbabwean dollar The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009.... (ZWD) |
25,000-101,000 (official) 45,000-550,000 (parallel) |
Changed daily due to hyperinflation Hyperinflation In economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases... Redenominated Redenomination Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented.... currency 1 Aug 2006: 1,000 first Zimbabwean dollars = 1 second Zimbabwean dollar |
|
| 1 Aug 2006 | ca. 21 Mar 2007 | Vietnamese đồng (VND) | 16,000 - 16,736 | - | |
| ca. 21 Mar 2007 | ca. 6 Apr 2007 | Second Zimbabwean dollar Zimbabwean dollar The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009.... (ZWN) |
250 (official) 16,000 - 30,000 (parallel) |
Changed daily due to hyperinflation | |
| ca. 6 Apr 2007 | 8 Apr 2007 | Vietnamese đồng (VND) | 16,022 | Zimbabwean dollar briefly rose in value | |
| ca. 8 Apr 2007 | 31 Jul 2008 | | | Second Zimbabwean dollar Zimbabwean dollar The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009.... (ZWN) |
250 - 69,484,070,056 (official) 20,000 - 751,089,467,956 (parallel) |
Changed daily due to hyperinflation. Redenominated Redenomination Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented.... currency 1 Aug 2008: 10,000,000,000 second Zimbabwean dollars = 1 third Zimbabwean dollar |
| 1 Aug 2008 | 21 Sep 2008 | Somali shilling Somali shilling The Somali shilling is the official currency of Somalia... (SOS) |
35,000 | ||
| 22 Sep 2008 | 2 Feb 2009 | | | Third Zimbabwean dollar Zimbabwean dollar The Zimbabwean dollar was the official currency of Zimbabwe from 1980 to 12 April 2009.... (ZWR) |
96 - 12,336,416,667 (official) 80,000 - 300,000,000,000,000 (parallel/cash) |
Changed daily due to hyperinflation. Redenominated Redenomination Redenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented.... currency 2 Feb 2009: 1,000,000,000,000 third Zimbabwe dollars = 1 fourth Zimbabwe dollar |
| 3 Feb 2009 | present | | | Somali shilling Somali shilling The Somali shilling is the official currency of Somalia... (SOS) |
28,250 - 33,000 | |
Many currencies are not permitted to float on the foreign exchange market
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
, to prevent capital flight
Capital flight
Capital flight, in economics, occurs when assets and/or money rapidly flow out of a country, due to an economic event and that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic...
or for political reasons. As a result, the parallel market (black market) price of a currency may deviate substantially from its official value.
See also
- Highest-valued currency unit
- DevaluationDevaluationDevaluation is a reduction in the value of a currency with respect to those goods, services or other monetary units with which that currency can be exchanged....
- InflationInflationIn economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
- Deflation
- HyperinflationHyperinflationIn economics, hyperinflation is inflation that is very high or out of control. While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases...
- Denomination (currency)Denomination (currency)Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
- RedenominationRedenominationRedenomination is the process of changing the face value of banknotes or coins used in circulating currency.When redenomination occurs, financial data that spans the change must be correctly accounted for. For example, the GDP is properly documented....