You can plan to visit these countries
``` Cheapest Currencies in the World ```
Would you like to be a billionaire?
If yes, it's easy, just move to any of the countries below.
ZIMBABWE
Zimbabwe Dollar 1,000,000,000 = US $2.64
Zimbabwe as an example, this country's entire population of
over 12,500,000 are billionaires. In fact, many are trillionaires, or even
quadrillionaires. in case you're unfamiliar with "quadrillions, " a quadrillion
is a million billion, or a 1 followed by 15 zeros. 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).
As Americans worry about the rate of inflation exceeding 4
percent, we should consider Zimbabwe, where the inflation rate broke the
shocking 230,500,000% mark and the country released a 100 trillion dollar note.
VIETNAM
Vietnam Dong 100,000 = US $5.37
An early-1980's U.S. embargo hobbled exports, leading to
price controls and the printing of excess currency. Early this month, the
Vietnamese dong rate in the black market has strengthened towards the official
level after the government released more dollars into the economy and cracked
down on state banks' currency transactions, which traded at 18,621 per dollar.
INDONESIA
Indonesian Rupiah 100,000 = US $10.71
During the 1997 Asian financial crisis, the rupiah lost 80
percent of its value within months, sparking riots in Jakarta (and soon ending
President Suharto's 32-year rule). From the years 2000 to 2008, the exchange
rate has generally been between 8,000 and 11,000 rupiah to one United States
dollar. As of February 2010, one US dollar is worth approximately 9,335
Indonesian rupiah.
IRAN
Iran Rial 100,000 = US $10.11
Since the 1979 revolution, Iran's inflation rate has hovered
around 15 percent, thanks in part to ever-rising oil prices.
Until 2002, Iran's exchange rate system was based on a
multi-layered system, where state and para-state enterprises benefited from the
preferred rate (1750 rial for $1) while the private sector had to pay the
market rate (8000 rial for $1), hence creating an unequal competition
environment. However, in March 2002, the multi-tiered system was replaced by a
unified, market-driven exchange rate.
SAO TOME
Sao Tome Dobra 100,000 = US $5.54
This African island nation's economy is tied to the volatile
price of its chief export, cocoa, and is measured against its trading partners'
robust euro. In late 2000, São Tomé qualified for significant debt reduction
under the IMF-World Bank's Heavily Indebted Poor Countries (HIPC) initiative.
The reduction is currently being reevaluated by the IMF, due to the attempted
coup d'etat in July 2003 and subsequent emergency spending.
GUINEA
Guinea Franc 100,000 = US $19.85
In 2002, the mineral-rich African country refused to
implement reforms mandated by the International Monetary Fund; foreign cash
dried up, and the central bank printed too much money.
From an average value of about 2500 Guinean francs to the
pound sterling during the year 2000, the value of the currency has fallen to a
current level (April 2006) of about 8000 to the GBP and about 4500 to the
United States dollar.
LAOS
Lao Kip 100,000 = US $11.75
Laos is a landlocked country with an inadequate
infrastructure and a largely unskilled work force. The country's per capita
income in 2004 was estimated to be $1,900 on a purchasing power parity-basis.
The Asian financial crisis, coupled with the Lao Government's
own mismanagement of the economy, resulted in spiraling inflation and a steep
depreciation of the kip, which lost 87% of its value from June 1997 to June
1999.
TURKMENISTAN
Turkmenistan Manat 100,000 = US $6.96
Since 1991- the last year of existence of the USSR - up to
1993 - the last year of rouble zone existence - the rate of inflation was
measured in tens, hundreds and even thousands per cent per year.
For the recent years the process of involving internal
sources of investment into the sphere of currency turnover and currency accrual
has become unprecedented in its scale.
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Cheapest Currencies in the World ```
Shenoy Investment & Fin. Cons. Pvt. Ltd Thu, 25 Feb 2010 03:21:49 -0800
