The values of all financial assets depend on factors of the economy, inflation rates, and demand for that currency. Some currency is said to be “cheap’ in relation to other currencies such as the US Dollars or euros meaning that, the value of the currency is low. Below is the list of the cheapest currencies in the world: 

1. Iranian Rial (IRR)  

1 INR= 500-600 IRR 
The Iranian currency – the Rial – has been long regarded one of the world’s weakest currencies. Owing to the stiff economic sanctions, high inflation and a very complicated economic structure the Rial has greatly declined in value. Therefore, one needs many Rials to obtain only a glimpse of the value of the foreign currency.  

2. Vietnamese Dong (VND) 

1 INR= 320-350 VND 
Another currency is the Vietnamese Dong, and it is also relatively cheap, in comparison to other currencies in the world.

High inflation levels accompanied by a lot of Dong to bid for foreign currencies, which reduces its value. The Dong is relatively low in value giving a perception of an emerging market economy coupled with the ongoing reforms in the Vietnamese economy.  

3. Laotian Kip (LAK)  

1 INR= 254.28 LAK 
The other low-valued currency used in Laos is the Laotian Kip. Factors that have helped determine the low exchange rate include inflation and the country’s relatively young economy.  

4. Sierra Leonean Leone (SLL)  

1 INR= 1500-1600 SLL 
Sierra Leonean is the name of the local currency of Sierra Leone. Current inflation rates and fluency of the global economy have led to the low value of the currency.

The value of Leone has been in accordance with the country’s economic development levels. It includes factors such as civil conflict recovery and continuing developmental requirements.  

5. Indonesian Rupiah (IDR)  

1 INR= 191.03 IDR 
The Indonesian Rupiah is one of the lesser valuable currencies when compared to the world’s celebrated currencies. This reservation in value has been attributed to inflation as well as a large fluctuation of Rupiah in the market.

Nevertheless, Indonesia’s minuscule economy is one of the fastest growing in the world, drawing in investment .  

6. Uzbekistani Som (UZS)  

1 INR= 151.33 UZS 
The official currency of Uzbekistan is known as the Uzbekistani Som. It has a low value that is due to high inflation and other economic measures in the country.

However, the various problems can no longer prevent Uzbekistan from making liberal economic changes and progressing in its development.  

7. Guinean Franc (GNF)  

1 INR= 102.31 GNF 
The currency to use in Guinea is the Guinean Franc Guinee which is a state in West Africa. The Franc being cheaper is a result of inflation, and other economic problems facing the country.

At present one could almost need several billion Guinean Francs to make even a single figure in major currencies.  

8. Paraguayan Guarani (PYG)

1 INR= 89.35 PYG 
In contrast to most of the currencies listed here, the Guarani has not been subjected to very high devaluation. The low amount illustrates Paraguay’s seemingly emergent economy, and an overwhelming dependence on the agricultural industry.

The Guarani have received a good chance to be involved in tourism since their area has a rich culture and scenery that may attract tourists.  

9. Ugandan Shilling (USH)  

1 INR= 44.82 USH 
Under Idi Amin’s leadership, Uganda, a country in East Africa, experienced a significant setback. The President put into effect policies that hurt the country’s economy, like immigration laws. The consequences of the president’s economic decline continue to impede the nation’s progress.  

10. Iraqi Dinar (IQD) 

1 INR= 15.6 IQD The story of Dinar is based on the experiences of war and the process of transforming a soldier into a civilian again. After suffering through a war, it has since risen but is still most affected by political problems and its reliance on the exportation of oil. Bridging the economy and opening avenues for foreign investment as well as the relationship with other currencies is vital for the Dinar. 

Exchange rates major determinants include purchasing power parity, employment rate, and other financial rates such as inflation rates and interest rates. Even as these currencies are commonly regarded as ‘cheap’ when compared to global standards today, they represent the peculiar socio-economic circumstances as well as the economic adversities that most of the countries face. By comprehending these currencies, one can get a picture of the state of the world and the intricacies of the financial system.