15 Weakest Currencies in Europe in 2026

What are the Weakest Currencies in Europe? 

Below is the list of the top 15 weakest currencies in Europe as of February 2026 against the US dollar.

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.

1. Hungarian Forint (HUF)

The Hungarian forint (HUF) is the weakest currency in Europe in 2026.

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.

USD/HUF Rate

1 USD =  317.45 HUF

1 HUF = 0.00315 USD

2. Serbian Dinar (RSD)

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

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.

Compare Today’s RSD Exchange Rate 

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3. Albanian Lek (ALL)

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

The lek remains weak in 2026 due to limited industrial output, a sizable informal economy, and external vulnerabilities. While tourism provides some support, the currency’s low value persists.

Compare Today’s ALL Exchange Rate 

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4. Macedonian Denar (MKD)

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

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

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5. Ukrainian Hryvnia (UAH)

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

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.

Compare Today’s UAH Exchange Rate 

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6. Turkish Lira (TRY)

The Turkish currency continues to weaken in 2026, impacting consumer prices and investor confidence.

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 2026, impacting consumer prices and investor confidence.

Compare Today’s TRY Exchange Rate 

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7. Moldovan Leu (MDL)

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

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.

Compare Today’s MDL Exchange Rate 

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8. Icelandic Króna (ISK)  

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

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.

Compare Today’s ISK Exchange Rate 

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9. Czech Koruna (CZK)  

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

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.

Compare Today’s CZK Exchange Rate 

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10. Swedish Krona (SEK)  

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

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.

Compare Today’s SEK Exchange Rate 

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11. Norwegian Krone (NOK) 

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

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.

Compare Today’s NOK Exchange Rate 

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12. 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.

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

USD/BYN Rate

1 USD = 2.86 BYN

1 BYN = 0.3500 USD

13. 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.

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.

Compare Today’s RON Exchange Rate 

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14. 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.

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.

Compare Today’s PLN Exchange Rate 

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15. Georgian Lari (GEL)

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

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

USD/GEL Rate

1 USD = 2.68 GEL

1 GEL = 0.3726 USD

Conclusion

In 2026, 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.