This Muslim country's currency is weakest in world, one can become millionaire with just Rs 2000, Rs 1 equal to...
Iran is known to have the weakest currency in the world. According to Forbes' report, as of March 2024, Iran's currency, the Iranian Rial (IRR), is the weakest compared to other currencies.
Iran is known to have the weakest currency in the world. According to Forbes' report, as of March 2024, Iran's currency, the Iranian Rial (IRR), is the weakest compared to other currencies. It is reported that the Iranian Rial is about 500 times weaker than the Indian Rupee, with Rs 1 being equivalent to around 504 Iranian Rials. This means that with just Rs 5,000 (around 2524551 IRR), one could become a millionaire in Iran. Rs 2000 is equal to 1009820 IRR.
The weakening of Iran's currency can be attributed to several factors. Following the Islamic revolution in 1979, Iran experienced a decline in foreign investor interest, which contributed to the devaluation of the currency. Additionally, Iran's nuclear program and the Iran-Iraq war have also played a role in destabilizing the country's currency. The economic sanctions imposed by Western countries have directly impacted Iran's currency, contributing to its weakness.
Vietnam also faces challenges with its currency, the Vietnamese Dong. In Vietnam, the exchange rate is 301 VND Vietnamese Dong for Rs 1, indicating another instance of a country with a weakening currency.