Inflation is a sign these days, especially after the impact that the Covid crisis has had on different economies, and some countries have suffered a sharp devaluation against the dollar. In front of this panorama, a recurring question is which currency is the most devalued.
In this ranking, according to the La República website and replicated by La silla vacía, the currencies with the greatest loss of purchasing power against the dollar are:
– the Ghanaian cedi: -51.16%
– Sri Lankan rupee: -44.7%
– the Lao kip: -34.9%
– the lion of Sierra Leone: -33.1%
– The Argentine peso: -33.1%.
As for other Latin American cases, the note from La silla vacía indicates that the Colombian peso depreciated by 16.9% and the Chilean peso by -12.8%.
As for Venezuela, the data available is from the Center for Latin American Studies and indicates that its devaluation is 16% in the last month. Although there are no long-term estimates.
The strongest currencies
Another of the edges of this phenomenon is that not only the currencies of emerging countries have had a devaluation. This same situation occurred in those considered the strongest on the market.
On this, a report by the Bloomberg agency found that the euro has so far this year had a drop of -13.9%; the British pound presented a devaluation of -17%; and the Japanese yen fell -23.3% against the dollar.
In this context, according to information from La silla vacía, the projections of the International Monetary Fund indicate it a third of the world’s countries would enter a recession next year.
Source: Clarin
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.