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 one would consider a British pound sterling, one would not consider a British penny. A reserve currency (or anchor currency) is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. ... The euro (currency sign: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as the... This article is about general United States currency. ... The pound (symbol:£ banking code:GBP) is the official currency of the United Kingdom (UK). ... A variety of coins considered to be lower-value, including an Irish 2p piece and many US pennies. ...

Start Date	Finish Date	Country	Currency Unit	Units per US Dollar	Notes
1 Jan 1994	13 Jan 1994	Angola	Angolan kwanza (AON)	34.2 thousand	-
14 Jan 1994	26 Jan 1994	Yugoslavia	old Yugoslav dinar	250 thousand	new currency 27 Jan 1994: 1 new Yugoslav dinar (YUM) (pegged to 1 German Mark)
27 Jan 1994	6 July 1995	Angola	Angolan kwanza (AON)	34.2 thousand - 2.1 million	new currency 7 July 1995: 1,000 novo kwanza (AON) -> 1 new kwanza readjustado (AOR)
7 Jul 1995	30 Apr 1996	Turkey	Turkish Lira (TRL)	43.1 - 69.2 thousand	-
1 May 1996	31 Dec 1999	Angola	Angolan kwanza (AOR)	150,000 - 5.4 million	new currency 1 January 2000: 1 million kwanza reajustado (AOR) -> 1 new Angolan kwanza (AOA)
1 Jan 2000	31 Dec 2004	Turkey	Turkish lira (TRL)	533,000 - 1.35 million	new currency 1 Jan 2005: 1 million old Turkish lira (TRL) -> 1 new Turkish lira (TRY) (old lira valid to end of 2005)
1 Jan 2005	30 June 2005	Romania	Romanian leu (ROL)	29.11 - 29.85 thousand	new currency 1 July 2005: 10 thousand old Romanian lei (ROL) -> 1 new Romanian leu (RON) (old leu valid to end of 2006)
1 July 2005	24 Aug 2005	Mozambique	Mozambican metical (MZM)	24.4 thousand	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	present	Zimbabwe	Zimbabwean dollar (ZWD)	25-101 thousand (official) 45-410 thousand (parallel)	changes daily due to hyperinflation

It should be noted that 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. Image File history File links Flag_of_Angola. ... The kwanza (ISO currency code: AON, abbreviation also: Kz) is the currency of Angola. ... Image File history File links Flag_of_SFR_Yugoslavia. ... Official language Serbo-Croatian, Serbian, Croatian, Slovenian, Bosnian, Macedonian Capital Belgrade Largest city Belgrade Area (1991)  - Total  - % water Ranked xxst 255,804 km² Negligible Population  - Total (2004)  - Density Ranked xxth 20,522,972 80/km² Currency Yugoslav dinar Time zone  - in summer CET (UTC+1) CEST (UTC+2) National anthem... Obverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Reverse of 10 Yugoslav Dinars issued by the National Bank of Yugoslavia during 1960s Yugoslav dinar was the official valute in former Yugoslavia. ... Image File history File links Flag_of_Angola. ... The kwanza (ISO currency code: AON, abbreviation also: Kz) is the currency of Angola. ... Image File history File links Flag_of_Turkey. ... The Turkish lira was the currency of Turkey until 2005. ... Image File history File links Flag_of_Angola. ... The kwanza (ISO currency code: AON, abbreviation also: Kz) is the currency of Angola. ... Image File history File links Flag_of_Turkey. ... The Turkish lira was the currency of Turkey until 2005. ... Image File history File links Flag_of_Romania. ... The Romanian leu (, plural: lei ; ISO 4217 code RON; numeric code 946) is the national currency of Romania. ... Image File history File links Flag_of_Mozambique. ... The metical (plural: meticais) is the currency of Mozambique. ... Image File history File links Flag_of_Zimbabwe. ... The Zimbabwean dollar (currency code ZWD) is the currency of Zimbabwe since 1980. ... In economics, hyperinflation is inflation which is out of control, a condition in which prices increase rapidly as a currency loses its value. ... A floating currency is a currency that uses a floating exchange rate as its exchange rate regime. ... The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. ... Seen in Asian markets in the 1990s capital flight is when assets and/or money rapidly flow out of a country. ... The black market or underground market is the part of economic activity involving illegal dealings, typically the buying and selling of merchandise or services (for example sexual services in many countries) illegally. ...

List of least valued currency units

As of July 1, 2006, the list of the least valued currencies included 26 currencies for which 1 USD was worth more than (or almost, in the case of South Korean Won to US Dollar) 1,000 currency units. July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...

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 the same as the South Korean won, and the Myanmar kyat is worth about 1/1200 of a 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.

• Azerbaijani manat held the 11th place before its 1:5000 redenomination on January 1, 2006.

• Mozambique metical held the 2nd place before its conversion to the New Metical on July 1, 2006. The new metical (MZN) is worth 1,000 old meticais (MZM).

Note: While the official market rate for the ZWD on July 1, 2006 was 101,195.54 ZWD per USD, the parallel market rate for the ZWD was 400,000 to 410,000 ZWD per USD . North Korea, officially the Democratic Peoples Republic of Korea (DPRK; Korean: Chosŏn Minjujuŭi Inmin Konghwaguk; Hangul: 조선민주주의인민공화국; Hanja: 朝鮮民主主義人民共和國), is a country in eastern Asia, covering the northern half of the peninsula of Korea. ... 5000 KPW issued in 2002 The won is the currency of North Korea. ... The kyat (ISO 4217 code MMK) is the official currency of Myanmar. ... Motto: 널리 인간 세계를 이롭게 하라 (Broadly bring benefit to humanity, 弘益人間) Anthem: Aegukga Capital Seoul Largest city Seoul Official language(s) Korean Government Presidential democracy  - President Roh Moo-hyun  - Prime Minister Han Myung-sook Establishment    - Gojoseon 2333 BC   - Declaration of Republic March 1, 1919   - Liberation August 15, 1945   - First Republic August 15, 1948  Area    - Total... The won is the currency of South Korea. ... The kyat (ISO 4217 code MMK) is the official currency of Myanmar. ... It has been suggested that British Somaliland be merged into this article or section. ... This article discusses states as sovereign political entities. ... This article contains information that has not been verified and thus might not be reliable. ... The manat (currency code: AZN) is the currency unit of Azerbaijan. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... The Mozambique metical is a currency used in the African nation of Mozambique. ... July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...

As rates change daily and for ease of calculation, the rates of 101,196 ZWD per USD (official) and 404,784 ZWD per USD (parallel) will be used in this table.

No.	State	Currency	Abbr	July 1, 2006 Official Rate 1 USD =	Value in ZWD (Official Rate)	Value in ZWD (Parallel Rate)	Highest valued banknote
1.	Zimbabwe	Dollar †	ZWD	101,196 RBZ	1	1	1,000 (Banknote) 100,000 (bearer cheque) (1 million Zim Dollar RBZ Bearer Cheque planned for Sept. 2006)
2.	Vietnam	Đồng	VND	16,181	6.25	25.00	500,000
3.	Laos	Kip	LAK	10,488	9.65	38.60	50,000
4.	Iran	Rial	IRR	9,548	10.60	42.40	20,000
5.	Ghana	Cedi	GHC	9,375	10.79	43.16	20,000
6.	Indonesia	Rupiah	IDR	9,337	10.84	43.36	100,000
7.	São Tomé and Príncipe	Dobra	STD	7,006	14.44	57.76	50,000
8.	Paraguay	Guaraní	PYG	6,016	16.82	67.28	100,000
9.	Turkmenistan	Manat	TMM	5,200 UNO	19.46	77.84	10,000
10.	Guinea	Franc	GNF	4,572	22.13	88.52	5,000
11.	Cambodia	Riel	KHR	4,171	24.26	97.04	100,000
12.	Zambia	Kwacha	ZMK	3,663	27.63	110.52	50,000
13.	Colombia	Peso	COP	2,492	40.61	162.44	50,000
14.	Sierra Leone	Leone	SLL	2,360	42.88	169.52	10,000
15.	Madagascar	Ariary	MGA	2,242	45.14	180.56	10,000
16.	Venezuela	Bolívar	VEB	2,149	47.09	188.36	50,000
17.	Belarus	Ruble	BYR	2,142 UNO	47.25	189.00	100,000
18.	Uganda	Shilling	UGX	1,841	54.97	219.88	50,000
19.	Iraq	Dinar	IQD	1,530	66.14	264.56	25,000
20.	Lebanon	Pound	LBP	1,521	66.53	266.12	100,000
21.	Somalia	Shilling	SOS	1,449	69.84	279.36	1,000
22.	Tanzania	Shilling	TZS	1,282	78.94	315.76	10,000
23.	Uzbekistan	Som	UZS	1,224 UNO	82.68	330.72	1,000
24.	Mongolia	Tugrug	MNT	1,120	90.32	361.28	10,000
25.	Burundi	Franc	BIF	1,026	98.63	394.52	10,000
26.	Republic of Korea	Won ‡	KRW	958	105.63	422.52	10,000 (banknote) 100,000 (Korean Bank Cheque)
RBZ - Data taken from www.rbz.co.zw/ for Zimbabwe.
UNO - Data taken from www.un.org/Depts/treasury/ for Turkmenistan, Belarus and Uzbekistan.
___ - Data taken from www.oanda.com for other countries.

Notes 

† – To be revalued in 2006.

‡ – The least valued currency of any OECD member state. Redenomination is currently being considered.

July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... The United States dollar is the official currency of the United States. ... The Zimbabwean dollar (currency code ZWD) is the currency of Zimbabwe since 1980. ... The Zimbabwean dollar (currency code ZWD) is the currency of Zimbabwe since 1980. ... Image File history File links Flag_of_Zimbabwe. ... The Zimbabwean dollar (currency code ZWD) is the currency of Zimbabwe since 1980. ... Image File history File links Flag_of_Vietnam. ... The front of a 500,000₫ bill. ... Image File history File links Flag_of_Laos. ... Kip is the currency of Laos. ... Image File history File links Flag_of_Iran. ... 20,000 Iranian rials The rial (ریال in Persian; ISO 4217 code IRR) is the official currency of Iran. ... Image File history File links Flag_of_Ghana. ... The cedi is the unit of currency of Ghana, Africa. ... Image File history File links Flag_of_Indonesia. ... The 1998-2001 series of rupiah banknotes The Rupiah (Rp) is the currency of Indonesia (ISO 4217 currency code IDR). ... Image File history File links Flag_of_Sao_Tome_and_Principe. ... The São Tomé and Príncipe Dobra is a currency used in the African nation of São Tomé and Príncipe. ... Image File history File links Flag_of_Paraguay. ... The guaraní (plural: guaraníes; ISO 4217 code PYG) is the national currency unit of Paraguay. ... Image File history File links Flag_of_Turkmenistan. ... The manat is the currency unit of Turkmenistan. ... Image File history File links Flag_of_Guinea. ... Image File history File links Flag_of_Cambodia. ... Riel (Khmer: , Symbol ) is the national currency of Cambodia. ... Image File history File links Flag_of_Zambia. ... The Zambian kwacha has been the official currency of Zambia since 1968. ... Image File history File links Flag_of_Colombia. ... The peso is the currency of Colombia. ... Image File history File links Flag_of_Sierra_Leone. ... The leone is the currency of Sierra Leone, a country on the West African coast. ... Image File history File links Flag_of_Madagascar. ... The Malagasy ariary (ISO 4217 MGA) is the currency of Madagascar. ... Image File history File links Flag_of_Venezuela. ... The Venezuelan bolívar (ISO currency code: VEB; locally abbreviated as Bs) is the currency of Venezuela. ... Image File history File links Flag_of_Belarus. ... Belarusian ruble (ISO-code BYR, before 2000 - BYB) is the official currency of Belarus. ... Image File history File links Flag_of_Uganda. ... The Ugandan shilling is the currency of Uganda. ... Image File history File links Flag_of_Iraq. ... A new twenty-five thousand dinar note The Iraqi dinar (ISO 4217: IQD, pronounced: di-när) is the legal currency of Iraq. ... Image File history File links Flag_of_Lebanon. ... The Lebanese pound (Arabic lira, French livre, ISO 4217: LBP) is the currency unit of Lebanon. ... Image File history File links Flag_of_Somalia. ... The Somali shilling (shilin soomaali) is the currency used in the African nation of Somalia. ... Image File history File links Flag_of_Tanzania. ... The current curency used in Tanzania, althought the wide spread use of U.S. Dollars is accepted. ... Image File history File links Flag_of_Uzbekistan. ... The som (so‘m in Uzbek) is the currency of Uzbekistan in Central Asia. ... Image File history File links Flag_of_Mongolia. ... The Tugrug (төгрөк in Mongolian) (MNT, Tugrik) is the official currency of Mongolia. ... Image File history File links Flag_of_Burundi. ... Image File history File links Flag_of_South_Korea_(bordered). ... The won is the currency of South Korea. ... The Organisation for Economic Co-operation and Development (OECD) is an international organisation of those developed countries that accept the principles of representative democracy and a free market economy. ...

See also

• Highest valued currency unit
• Devaluation
• Inflation
• Hyperinflation

The highest valued currency unit is the currency in which a single unit buys the highest number of any given other currency or the largest amount of a given good. ... Devaluation is a reduction in the value of a currency. ... In economics, hyperinflation is inflation which is out of control, a condition in which prices increase rapidly as a currency loses its value. ...

References

• www.xe.com