5 Worst Performing Currencies in Asia

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1. Lebanese Pound

Price Against 1 USD on January 2, 2023: 1507 

Price Against 1 USD on September 20, 2023: 15030

Percentage Decline in Price in 2023: 897%

The Lebanese Pound is the official currency of Lebanon, a country in the Middle East. In April last year, Deputy Prime Minister Saadeh al-Shami announced that the central bank and the government of the country had gone bankrupt. Since then, the currency has continued to slide against the US dollar, despite government measures to stabilize it. Some of the reasons behind the devaluation include the impact of the Russian invasion on energy and food prices, a slower-than-expected recovery from the COVID-19 pandemic, and political instability that has caused multiple IMF programs to fail. 

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