Forbes also compiled a ranking of the strongest currencies, which includes the Kuwaiti dinar, Bahraini dinar, Omani Riyal and other currencies
Tashkent
According to Forbes, the Uzbekistani currency sum has been listed as one of the ten weakest currencies in the world, along with the Iranian Riyal, Vietnamese dong, and Indonesian rupiah. The ranking is based on the relative value of these currencies compared to the US dollar, with $1 being equal to 11,516 Uzbekistani sums.
The publication noted that Uzbekistan is a leading global exporter of cotton and possesses significant reserves of valuable minerals, oil, and gas. Despite implementing economic reforms, the country continues to grapple with low economic growth, high inflation, unemployment, and corruption.
The Uzbekistani sum appears on the list of the ten weakest currencies alongside the following:
Iranian riyal
Vietnamese dong
Laotian kip
Sierra Leonean Leone
Indonesian rupiah
Lebanese pound
Guinean franc
Paraguayan Guarani
Ugandan shilling
Forbes also compiled a ranking of the strongest currencies, which includes the Kuwaiti dinar, Bahraini dinar, Omani Riyal, British pound, Swiss franc, US dollar, and the Euro as the common European currency.
It’s worth noting that the Kyrgyzstani currency som is not mentioned in either list – neither among the strongest nor among the weakest currencies in the world.
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Courtesy: Central Asian Light (Posted on July 20, 2023)
