Currency Rates for Afghani
Currency Information on Afghani - AFN- Afghanistan Afghani - ؋. The foreign exchange rates for Afghani also known as the ISO code AFN or the Afghanistan Afghani currency and as a symbol ؋.
AFN is the ISO for the new Afghani, which was introduced in 2003, after unregulated and unrestrained printing of bank notes populated Afghanistan to have a circulation of over 15 trillion Afghani. This has also meant that the population of Afghanistan is more willingly begun to use their own currency as a means of buying and selling goods.
The currency used in Afghanistan is called as Afghanistan Afghani. One Afghani is divided in 100 pul. In the year 1925, the first currency of Afghanistan was introduced. The Afghani was ISO 4217 code: AFA. Not only One Afghani is divided into 100 pul, also, 20 Afghani is made on Amani. The Afghani is generally contained approximately 9 grammes of silver. Based on the silver content, the rate of rupee and Afghani was equated as 1 Afghani is equal to 1 Rupee 6 paisa.
For some time, the dual exchange rate was applied of the Afghani currency. Between them, one was official exchange rate fixed by the Afghan Central Bank and the other one was a free market rate. This second rate is varied according to the supply and demand in Kabul's money Bazar called Saraye Shahzada. In the year 2002, the Da Afghanistan Bank has adopted the floating exchange rate.
The bank notes are available in 9 varieties of notes as 1 Afghani, 2 Afghani, 5 Afghani, 10 Afghani, 20 Afghani, 50 Afghani, 100 Afghani, 500 Afghani and 1000 Afghani. The coins are available in the value of 1, 2 and 5 Afghani. In the year 2009, the coins were first introduced in Afghanistan currency. The banknote front side of each Afghani has different place images like Ahmed Shah Durrani's mausoleum for 10 Afghani note, Mahmood Ghazni's tomb for 20 Afghani notes, different Mosques for 50, 100 and 500 Afghani notes and Mazar Shariff on the 1000 Afghani notes.
In the year 2002, the Afghanistan Government has suspended all the previous notes for the new ISO 4217 code: AFN notes. All the previously issued notes before 2002 have been stood suspended and this new series of note is in the business right now. The notes of 1 Afghani, 2 Afghani and 5 Afghani was replaced by coins in the year 2005.
After the floating exchange rate of the Afghani, the USD conversion has decreased significantly. The Afghani has a rate of $1 = 68 to 69 Afghani at the present scenario.
It was during this time that Anwar Ul-Haq Ahadi, the Afghan central Bank governor, decreed that all prices would be displayed in Afghani and all item should be purchased using Afghani, where US Dollars and Pakistani Rupees had been accepted prior. Since the introduction of the new Afghani, exchange rates have remained steady in growth and administrative measures, introduced with the aim of encouraging the use of the new Afghani have assisted with this.
GBP to AFN
Bank Exchange Rates for Afghani. The foreign exchange rates for Afghanistan Afghani also known as the ISO code NGN. Send money transfer online with us with the cheapest options.