The Four Weakest Currencies in the South Americas

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The Four Weakest Currencies in the South America
Currency exchange rates reveal the strength of each currency against any other currency. The trend of these rates is essential for investors, nations, and traders among others. These are people who are interested in dealing with the import and export business or foreign currency exchange business where they buy and sell currencies. Here are four of the weakest South American currencies and details of their respective economies.

The Chilean – Peso
The Chilean Peso may have a low value, but it has considerable stability. The current rate of exchange of the currency is £1 = $832.0300.The nation has lots of mineral reserves, and it is one of the most stable economies in the region with large multinationals including Shopping malls such as Saga Falabella, and airlines such as LAN. The export of copper is the main determinant of the exchange rate. The slowing growth of the Chilean economy and many other developed and developing worlds may lead to more devaluation of the currency.

Paraguay – Guarani
The official currency of the nation of Paraguay is the Guarani. However, it is not easy to exchange the currency out of the nation, and US dollars are not accepted for facilitating Paraguay payments. The current exchange rate of the pound to the Guarani stands at £1 = ₲7154.1899. In spite of having a low value, this currency has great stability because the nation has experienced a positive economic growth, which is expected to reach a higher rate of 05% more than the previous year. The negative trade balance it has had in the recent past has dealt the nation a major blow. The nation imports commodities such as fertilizers, soybeans, soy meal, petroleum products, and bovine products. The fact that the nation relies on smaller economies for its exports rather than major economies whose economies are slowing down such as China implies that its currency will still stay stable.

The Colombian – Peso
The Colombian economy has been on a sharp decline in terms of growth in 2015. The decline is mainly blamed on the slump of economic prices of oil. Oil is the main Colombian export, and it provides for 50% of Colombia’s export revenue. Columbia loses a lot of millions of dollars for any 1 dollar reduction in the global price of oil. The unpredictable nature of the prices of oil shows that the exchange rate may also remain unstable and unpredictable. The tax reforms could also raise taxes and, and this could affect FDI as the nation tries to collect more revenue to support its operations. Therefore, the Colombian peso is likely to have a slowly growing decline against the USD. The current rate of exchange of the sterling pound to the peso stands at £1 = $3682.5000.

Uruguay Peso
The major currency used in Uruguay is the Peso, but the Argentinian Peso and US dollars are also widely used in the exchange process. The present rate of exchange to the sterling pound stands at £1 = 35.0180. The peso has been in use since the early settlement period of the Europeans. The code of the currency is UYU and it was adopted in 1993. One peso unit has 100 Centesimo sub-divisions. The earlier peso was later replaced by the Nuevo Peso denoted by the UYN currency code. One unit of the peso currently has 1000 sub-divisions. This unit was also later replaced by the peso Uruguay (UYU) at the same rate of sub-divisions. The coins in circulation include 50, 10, 5, 2, and 1 peso Uruguay. The current bank note denominations include 2000, 1000, 500, 200, 100, 50, and 20 pesos.

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Four Weakest Currencies in the South America

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