These are the worst-performing currencies over the last five years – and the rand isn’t even among the top 25
- The rand is not one of the 25 worst performing currencies in the world the past 5 years, a prominent investor found.
- The Venezuelan Bolivar was the world’s worst-performing currency, followed by the Sudanese pound.
- The rand lost 30% of its value compared to the US dollar since 2014 – but a lot of other currencies fared worse.
- For more stories go to www.BusinessInsider.co.za.
The South African rand was named the most volatile currency in 2019 – but it is not one of the top 25 worst-performing currencies of the past five years.
Prominent United States (US) investor Charlie Bilello recently released a list of the world’s worst-performing currencies over the past half decade.
He found that the Venezuelan bolivar was the world’s worst-performing currency, losing 99.99% of its value compared to the US dollar.
The Bolivar was followed by the Sudanese pound, which lost 87.4% of its value compared to the US dollar.
The North Korean Won is the third-worst performing currency, losing 85.4% of its value.
Other notable entries include the Argentina Peso, which lost 84.8% of its value, the Turkish Lira, which lost 62.2% of its value, and the Russian Ruble, which lost 43.6%.
African entries on the list also include the Liberian dollar, which lost 55.3% of its value compared to the US dollar, the Nigerian naira which lost 55.2% of its value, and the Mozambican metical which lost 50.7% of its value.
In contrast, the South African rand fell from R11.22 in 2014 to R14.58 for one US dollar on Tuesday, weakening by roughly 30%.
The rand’s value has returned roughly to where it was at the start of January 2019.
Compiled by James de Villiers.
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