5 Worst Performing Currencies of 2023

2. Zimbabwean Dollar

Price Against 1 USD on January 2, 2023: 672 

Price Against 1 USD on September 15, 2023: 4820

Percentage Decline in Price in 2023: 617%

Zimbabwean Dollar is the official currency of Zimbabwe, a country in Africa bordering Zambia and South Africa. A combination of factors, including the geopolitical pressures, inflation highs, and central bank missteps, have resulted in a downward spiral for the local currency that shows no signs of stopping. Unlike other countries in the region or around the world, the Zimbabwean dollar has depreciated by a staggering 617% so far this year as investors take refuge in the solidity that the US dollar offers in the face of economic instability.