While summing up the results of 2021, experts made a list of the world's worst currencies. The Cuban peso and the Turkish lira are topping the list of the outsiders. The third place goes to the Libyan dinar. Cuba can hardly be called an active participant in the global financial market. There was almost no news about the Cuban currency during the year. However, the Cuban peso depreciated against the US dollar by 96%. Cuba's economy stagnates due to the pandemic and multiple sanctions imposed by the US. In addition, the country is suffering from spiking inflation. The Libyan dinar did not appear much in the financial news as well. The currency has dropped by 71% against the US dollar for the previous year. The unstable situation in the country and problems with the unification of the political system severely affect the Libyan economy. The most well-known outsider on this list is the Turkish lira. The currency fell by 49% against the US dollar in 2021. The reason for such a depreciation lies in the country’s questionable monetary policy and a low interest rate amid soaring inflation. Since the 1970s, the Swiss franc, Japanese yen, and Danish krone have been among the most resistant to devaluation. The US dollar remains the dominant reserve currency. Since the early 1970s, the USD index has rarely risen or fallen by more than 10% yearly against major currencies.
