Rupiah Included in World's Top Five Worthless Currencies  

TEMPO.CO, Jakarta - Rupiah has been categorized as one of the most worthless currencies in the world.

The Richest released that Indonesian Rupiah is among the top five of the world’s most worthless currencies with an exchange of around Rp12,000 per US dollar. The Economist mentioned that Indonesia is facing a problem of bureaucratic government, corruption, and poor infrastructures that contribute to the weakening currency.

The first position on the list is Iranian riyal with an exchange of 26,905 riyals per US dollar. The second position is occupied by Vietnamese Dong, with an exchange of 21,393.96 dong per US dollar. Sao Tomean Dobra is the third on the list with an exchange of 19,750 per US dollar.

Rupiah’s exchange against the US dollar keeps slumping over the last few months. During the session on Friday, December 12, 2014, rupiah had the highest decline compared to other Asian currencies.

Korean won plummeted by 0.21 percent, while yuan declined by 0.01 percent. Malaysian ringgit also slumped by 0.18 percent. Zulfirman Basir, an analyst at PT Monex Investindo Futures, said the rupiah was disadvantaged by increasing demands on US dollar in the global and domestic market.

“Rupiah is now at six-year low,” Zulfirman said.

DEVY ERNIS