Details of the ranking of the 20 most volatile currencies in the world
According to Iran Economist, Steve Hanke, professor of economics at Johns Hopkins University, after examining the fluctuations of the world’s national currencies last year, introduced the 20 national currencies that have faced the greatest decline in value this year.
Contrary to the negative advertisements against the Iranian Rial in cyberspace, the ranking provided by this well-known professor of American economics shows that there are many national currencies that have experienced more unfavorable conditions than the Iranian Rial in 2022.
In fact, 16 national currencies have experienced a greater drop in value than the Iranian rial this year, among which are relatively reliable currencies such as the Argentine peso, the Egyptian pound, and the Turkish lira. The Iranian rial has been ranked 17th in the world in terms of its depreciation rate.
The Zimbabwean dollar has ranked first in the world in terms of depreciation against the US dollar during 2022. The value of this currency decreased by 77.78% in one year and the equivalent value of each American dollar reached 900 Zimbabwean dollars at the end of this year. At the beginning of 2022, each US dollar was traded for 4,450 Zimbabwean dollars.
The Venezuelan Bolivar has taken the second place in the world in this regard and lost 72.62% of its value against the US dollar during 2022. Each US dollar traded at 17.82 bolivars at the end of 2022.
The national currency of Cuba, which is called the peso, has been ranked third in the world in terms of the rate of depreciation and has experienced a 58.38% drop in its value this year. The value of each US dollar has reached 173 Cuban pesos at the end of 2022.
The national currencies of Sri Lanka, named Rupee, and Sierra Leone, named Leone, have also lost 49% and 46.4% of their value during 2022, respectively, ranking fourth and fifth in the world.
The Syrian pound has been the sixth most unstable currency in the world in 2022 with a 44.49% drop in its value against the dollar.
Argentina, with an economy larger than Iran’s, has ranked seventh in the world in terms of devaluation of its national currency. The value of each US dollar at the end of 2022 is equal to 346 Argentine pesos, which means that we have seen the loss of 39.88% of the peso’s strength this year.
Kadi or the national currency of Ghana, the national currency of Egypt called the pound and the kip as the national currency of Laos have ranked eighth to tenth in this regard.
Ukraine, which has faced the attack of Russia in 2022, has seen a 33.05% decrease in the value of its national currency, the hryvnia, and has been ranked 13th in the world in this regard.
Turkey, with an economy almost twice the size of Iran’s economy, has been the 15th country in the world in terms of devaluation of its national currency in 2022. The value of lira has decreased by 28.89% this year and each dollar is traded at 18.71 lira at the end of 2022.
According to this report, the value of the Iranian rial has decreased by 27.8% in 2022, and each US dollar has been traded for 410,000 rials at the end of this year. In this way, the Iranian rial has been ranked 17th in the world in terms of depreciation.
Pakistani rupee also lost 21.9% of its value during 2022 and ranked 19th in the world in this respect.
