Home

Blog

Weakest currencies europe

Trending

15 Weakest Currencies in Europe in 2025

Q: 1. Which European currency is weakest?

As of November 2025, the Hungarian Forint (HUF) is ranked as the weakest currency in Europe based on its nominal value against the US Dollar.

Written by Jennifer Pelegrin

Updated 7 November 2025

Table of Contents

The weakest currency in Europe highlights the gap between the continent’s strongest economies and those still struggling. While the euro, British pound, and Swiss franc remain solid among the strongest currencies in Europe, other national currencies continue to lose value.

These weakest currencies in Europe usually belong to countries with high inflation, political uncertainty, or fragile economies. This list is based on a broad geographical definition of Europe and ranks currencies by their nominal value against the US Dollar.

Analysis of Europe's 15 weakest currencies as of 7th November 2025, ranked by their low value, economic vulnerability, and susceptibility to financial pressures.

Key Takeaways

The Hungarian forint (HUF) is the weakest currency in Europe.
Currencies with euro pegs or EU alignment, such as the Bulgarian Lev, remain more stable despite their lower absolute value against the USD.
Currency recovery will depend on inflation control, political stability, and structural reforms, though persistent global and regional pressures could prolong weakness.

Try a No-Risk Demo Account

Open Your Free Account

What are the Weakest Currencies in Europe?

The top 15 weakest currencies in Europe as of 7th November 2025.

Hungarian Forint (HUF)
Serbian Dinar (RSD)
Albanian Lek (ALL)
Macedonian Denar (MKD)
Ukrainian Hryvnia (UAH)
Turkish Lira (TRY)
Moldovan Leu (MDL)
Icelandic Króna (ISK)
Czech Koruna (CZK)
Swedish Krona (SEK)
Norwegian Krone (NOK)
Belarusian Ruble (BYN)
Romanian Leu (RON)
Polish Zloty (PLN)
Georgian Lari (GEL)

Important Note on Exchange Rate: This ranking is based on the nominal exchange rate, meaning how many US dollars one unit of the currency can buy. This low nominal value should not be confused with overall economic weakness or instability. For example, the Hungarian Forint (HUF) has a very low value per unit, but Hungary has a developed, high-income economy, whereas a currency with a higher nominal value might belong to an economy facing significant challenges.

Hungarian Forint (HUF)

The Hungarian forint (HUF) is the weakest currency in Europe in 2025.

USD/HUF Rate (7th November 2025):

1 USD = 334.22099 HUF

1 HUF = 0.00299203 USD

While Hungary is an EU member, it retains the forint rather than adopting the euro, and remains among the poorest countries in EU debates because of its low currency value.

Serbian Dinar (RSD)

The Serbian dinar currency (RSD) is the second weakest currency in Europe.

USD/RSD Rate (7th November 2025):

1 USD = 101.51367 RSD

1 RSD = 0.00985089 USD

The dinar’s weakness is linked to moderate inflation, external debt, and reliance on remittances and exports. The National Bank of Serbia manages the currency actively but struggles to achieve significant appreciation.

Albanian Lek (ALL)

The Albanian LEK (ALL) is the third weakest currency in Europe.

USD/ALL Rate (7th November 2025):

1 USD = 83.700198 ALL

1 ALL = 0.0119474 USD

The lek remains weak in 2025 due to limited industrial output, a sizable informal economy, and external vulnerabilities. While tourism provides some support, the currency’s low value persists.

Macedonian Denar (MKD)

The Macedonian denar (MKD) is North Macedonia's official currency.

USD/MKD Rate (7th November 2025):

1 USD = 53.333285 MKD

1 MKD = 0.0187534 USD

Limited foreign investment, political instability, and economic constraints contribute to the denar’s position among Europe’s weakest currencies.

Ukrainian Hryvnia (UAH)

The Ukrainian hryvnia (UAH) is Ukraine’s official currency and secured a spot in our weakest currency list.

USD/UAH Rate (7th November 2025):

1 USD = 41.970436 UAH

1 UAH = 0.0238263 USD

War-induced economic strain, inflation, and infrastructure damage have weakened the currency. Although Ukraine has external financial support, the hryvnia continues to depreciate as the conflict endures.

Turkish Lira (TRY)

The Turkish currency continues to weaken in 2025, impacting consumer prices and investor confidence.

USD/TRY Rate (7th November 2025):

1 USD = 42.180583 TRY

1 TRY = 0.0237083 USD

The lira remains highly volatile due to chronic inflation, unconventional monetary policy, and political risks. Despite interventions by the Central Bank of Turkey, the lira has weakened further in 2025, impacting consumer prices and investor confidence.

Moldovan Leu (MDL)

The Moldovan leu (MDL) is the national currency of Moldova, one of Europe’s poorest countries.

USD/MDL Rate (7th November 2025):

1 USD = 17.08756 MDL

1 MDL = 0.0585221 USD

The leu is weak due to Moldova’s small economy, reliance on remittances, and limited export capacity. Political instability and economic dependency on Russia and the EU further pressure the currency.

Icelandic Króna (ISK)

The Icelandic Króna has one of the lowest nominal values among world currencies.

USD/ISK Rate (7th November 2025):

1 USD = 126.4353 ISK

1 ISK = 0.00790918 USD

Although Iceland maintains a high standard of living and a stable economy today, the Króna continues to trade weakly per unit compared to major global currencies.

Czech Koruna (CZK)

The Czech Koruna reflects the strength of the Czech Republic’s industrialized and export-driven economy.

USD/CZK Rate (7th November 2025):

1 USD = 21.080294 CZK

1 CZK = 0.0474377 USD

While the nation’s economy is robust and competitive within Europe, the Koruna itself has a low nominal value, requiring multiple units to equal a US dollar.

Swedish Krona (SEK)

The Swedish Krona is the currency of Sweden, one of the most advanced and innovative economies in Europe.

USD/SEK Rate (7th November 2025):

1 USD = 9.5647194 SEK

1 SEK = 0.104551 USD

Despite Sweden’s global reputation for strong industries, high living standards, and technological leadership, the Krona has a relatively low nominal value against the US dollar.

Norwegian Krone (NOK)

The Norwegian Krone is backed by one of the world’s wealthiest economies.

USD/NOK Rate (7th November 2025):

1 USD = 10.204994 NOK

1 NOK = 0.0979912 USD

The Krone’s nominal value against the dollar remains relatively low, reflecting currency denomination rather than economic strength, as Norway continues to rank among the richest nations globally.

Belarusian Ruble (BYN)

The Belarusian ruble (BYN) is the official currency of Belarus. The ruble is under strain from Western sanctions, economic isolation, and alignment with Russia.

USD/BYN Rate (7th November 2025):

1 USD = 3.4050001 BYN

1 BYN = 0.293686 USD

The country's monetary policy is tightly controlled, but structural economic weaknesses and inflation keep the BYN undervalued.

Romanian Leu (RON)

The Romanian leu currency (RON) is Romania’s official currency. While Romania is part of the EU, it has not adopted the euro.

USD/RON Rate (7th November 2025):

1 USD = 4.404427 RON

1 RON = 0.227053 USD

The leu’s relative weakness stems from persistent inflation, fiscal deficits, and political uncertainty. However, its EU ties provide some financial stability compared to non-EU currencies.

Polish Zloty (PLN)

The Polish Zloty serves as the currency of Poland, the largest economy in Eastern Europe. Earning its place among Europe’s weakest currencies.

USD/PLN Rate (7th November 2025):

1 USD = 3.6796581 PLN

1 PLN = 0.271764 USD

This low per-unit value does not detract from the Zloty’s stability, which is underpinned by Poland’s expanding industrial base and growing role within the European Union.

Georgian Lari (GEL)

The Georgian lari (GEL) is Georgia's national currency. Earning a place on our list of the weakest European currencies.

USD/GEL Rate (7th November 2025):

1 USD = 2.7057833 GEL

1 GEL = 0.369579 USD

The lari remains fragile due to trade imbalances, regional instability, and a small economic base, though reforms continue to support gradual improvements.

Conclusion

In 2025, several European currencies continue to face challenges from inflation, sluggish growth, and the lingering effects of political instability and regional conflicts.

Currencies such as the Hungarian Forint, Serbian Dinar, and Ukrainian Hryvnia rank among the weakest, reflecting underlying economic pressures. However, a low nominal value doesn’t always signal weakness, as seen with stable economies that maintain sound fiscal and monetary foundations.

Looking ahead, recovery for struggling currencies will depend on effective inflation control, political stability, and structural reforms. In contrast, the strongest currencies in Europe, including the Euro and Swiss Franc, continue to demonstrate resilience and investor confidence, supported by robust economies and disciplined financial policies.

Ready for the Next Trading Step?

Open an account and get started.

Get Free Access

Table of Contents

FAQs

As of November 2025, the Hungarian Forint (HUF) is ranked as the weakest currency in Europe based on its nominal value against the US Dollar.

The Ukrainian Hryvnia (UAH) is weak due to the ongoing war and high inflation. The Turkish Lira (TRY) suffers from persistent inflation and political instability.

Some currencies may recover if conditions improve. Ukraine’s Hryvnia could strengthen if the war ends, but others like the Belarusian Ruble may stay weak.

A currency weakens when a country faces high inflation, political instability, economic crises, or poor monetary policies. These factors reduce investor confidence and demand for the currency.

A weak currency makes imports more expensive, pushing up prices for consumers. It can also discourage foreign investment and reduce citizens' purchasing power abroad.

The euro (EUR), Swiss franc (CHF), and British pound (GBP) are among the strongest in Europe. They benefit from stable economies, trusted institutions, and lower inflation.

This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.