This year has been marked by many economic changes and has had a serious impact on the world, particularly in developing countries. Inflation has reached new heights in many countries, energy prices are skyrocketing and unemployment is growing.
The following are the global currencies that AlBawaba calls the “10 biggest losers in 2022”:
The United Kingdom suffers from the highest inflation rates in Western Europe. The pound sterling has been subject to numerous shocks. After falling 13.22% in the last six months, its value against the U.S. dollar has become the weakest since September 2020.
Like any other country, India has also been impacted by the world financial crisis. The Indian rupee dropped by 6.58% over the last six months to 79.91 per US dollar.
China’s economy struggled despite its traditional resilience, particularly during the pandemic. Extended lockdowns during the pandemic, followed by recent U.S visits to Taiwan, impacted the Chinese yuan.
The currency declined by 8.09% during the last six months.
The euro was a landmark in recent months, falling for the first time to parity with the US dollar.
The euro declined by 12.19 percent.
The Lebanese lira began to plummet in 2019. It amounts to 31,100 per USD and its value has fallen by more than 90%.
The Egyptian pound was severely affected by the Ukrainian war. It was depreciated by 14% and is now at about 19.14 per U.Sdollar.
With the world crisis and US sanctions, Iran’s Rial fell to its worst last June reaching 332,000 per US dollar.
Over the last six months, the Turkish lira has lost about 23.75 percent of its value. The present rate is 18.13 per US dollar.
Suffering from the aftermath of COVID-19 and the inflation caused by the war in Ukraine, the Japanese yen fell by 16.38%.
It goes without saying that with the war in the country, Ukraine’s currency suffered a terrible shock. In 2022, it struggled the most and dropped to a historic low of 20.48%.