2022: THE TOP 10 WORST PERFORMING CURRENCIES IN THE WORLD 

Did you know that the worst performing currency worldwide is the Bolivar, followed by the RTGS Dollar?

According to the Hanke’s Currency Watchlist, the Venezuelan Bolivar was the worst-performing currency with a depreciation rate of 99.39%. The data also reveals that the Zimbabwean RTGS dollar, which has lost 99.33% of its value against the US dollars, is the second worst-performing currency in the world.

Nigeria's currency, the Naira, ranks 11th worst-performing currency against the US dollar, according to Hanke’s Currency Watchlist. The data shows that as of September 2, 2022, the Naira had lost 48.87% of its value against the US dollars compared to its value in January 2022.

The Hanke's Currency Watchlist is a currency platform by Steve H. Hanke, a professor of environmental health and engineering at the Johns Hopkins University in Baltimore, Maryland.

Hanke is known for his work as a currency reformer in emerging-market countries such as Albania, Argentina, Bulgaria, Bosnia and Herzegovina, Ecuador, Estonia, Indonesia, Jamaica, Kazakhstan, Lithuania, Montenegro, Russia, Venezuela, and Yugoslavia.

Here are the top 10 worst performing currencies in the world in the order of country, name of currency, and the rate of depreciation (to the U.S. dollar) since January 2020:

1. Venezuela, Bolivar -99.39%

2. Zimbabwe, RTGS Dollar -97.33%

3. Lebanon, Pound -93.35%

4. Sudan, Pound -84.84%

5. Syria, Pound -79.62%

6. Argentina, Peso -72.78%

7. Turkey, Lira -67.34%

8. Iran, Rial -55.45%

9. Sri Lanka, Rupee -52.08%

10. South Sudan, Pound -51.61%

According to the belief of financial experts, countries with worst performing currencies should expect: reduction in foreign direct investment, massive capital flight, increase inflation, reduced economic growth, reduced GDP (gross domestic product), increase graduate unemployment, reduction in government’s expenditure on infrastructure projects, unstable prices of commodities making it difficult for any meaningful planning, reduction in trade volume, and increase hardship in countries coupled with increasing crime rate, etc.

Sources: Nairametrics & Tekedia & Wikipedia