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What is the most devalued currency against the dollar?

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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.

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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%

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– 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

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