Manas Malhotra
This ranking highlights Asian currencies that depreciated the most against the US dollar over the past year as on May 21, 2026.
The North Korean won is placed 10th, depreciating 9.28 per cent against the dollar over the past one year in limited market conditions.
The South Korean won stands 9th, weakening 9.53 per cent against the dollar during the one-year period in the dataset.
The Japanese yen is ranked 8th, depreciating 10.68 per cent against the dollar over the past one year amid sustained low interest rate conditions.
The Philippine peso is ranked 7th, weakening 10.72 per cent against the dollar over the past year in global currency movements.
The Indian rupee is placed 6th, depreciating 12.37 per cent against the dollar during the one-year period covered in the dataset.
The Nepalese rupee is in the 5th rank, weakening 13.06 per cent against the dollar, reflecting regional currency linkage trends with India.
The Bhutanese ngultrum is ranked 4th, depreciating 13.12 per cent against the dollar as it closely tracks Indian rupee movements.
The Sri Lankan rupee is placed 3rd, weakening 15.17 per cent against the dollar over the past one year in the dataset.
The Turkish lira is placed 2nd, depreciating 17.41 per cent against the dollar amid continued macroeconomic pressure and instability.
The Iranian rial is ranked 1st, collapsing nearly 3,050 per cent against the dollar amid sanctions, inflationary pressure, and severe economic instability, making it the most extreme currency movement in Asia over the period.