AFN to BRL

AFN - Afghan Afghani (؋)

Afghan Afghani

The Afghan Afghani (AFN) was introduced in 2003 as the new currency for Afghanistan. Two distinct rates were established: the government issue of 1000 and the northern alliance of 2000. Prior to 2003 the currency was the Afghanistan Afghani (AFA). There is no stock market. Money lending as well as foreign exchange is done through money bazaars.

The Afghan Afghani is the currency in Afghanistan (AF, AFG). The symbol for AFN can be written Af. The Afghan Afghani is divided into 100 puls. The exchange rate for the Afghan Afghani was last updated on May 24, 2019 from Yahoo Finance. The AFN conversion factor has 3 significant digits.

Economy

• Afghanistan relies on foreign aid, trade, and farming from bordering countries.
• The country and international concerns are focusing on improving infrastructure by creating jobs, promoting development of housing, and investing in education.
• International groups contributed over $2 billion to help Afghanistan’s dying economy.
• Afghanistan's agricultural products include wheat, wool, nuts, mutton, opium, lamb skin, and sheep skin.
• Afghanistan exports mainly nuts, fruit, carpets, and cotton.
• Imports include textiles, petroleum products, and capital goods.

History

• The first Afghani (AFA) was introduced in 1925. Before this time period the Afghan Rupee was the official currency.
• From the year 1925 to the year 1928 Afghani treasury notes were introduced.
• In 1975, all Afghanistan banks were nationalized.
• In 1981, the Afghani was pegged to the United States Dollar at 1 USD = 50 Afghanis.
• Afghanistan was taken over by Taliban rulers in 1996. The Taliban central bank declared the Afghanistan Afghani worthless and the bank cancelled the contract they had with Russia for printing their money. The country's currency was devalued against the US dollar to a rate of 1 USD = 43 Afghani.
• In 2002, the new Afghan Afghani currency (AFN) was introduced. In October, 2003 Afghanistan started using AFN as the official currency in local trade.
• In 2005, Afghani coins replaced the 1, 2, and 5 Afghani banknotes.
• Since 2005 the Afghanistan economy has grown at a steady pace.

More information about AFN - Afghan Afghani (؋)

BRL - Brazilian Real (R$)

The Brazilian real is the official currency of Brazil. It was introduced to fight high inflation; it replaced the cruzeiro on July 1, 1994. The Brazilian real’s currency code is BRL, and its symbol is R$. Its plural is “reais”.

The Brazilian Real (BRL) is the official currency of Brazil. It is divided into 100 centavos. The symbol for the Brazilian Real is R$. Brazil uses the period to separate thousands and the comma to separate decimals. In 1994, the new Real was introduced.

The Brazilian Real is the currency in Brazil (BR, BRA). The Brazilian Real is also known as Reals. The symbol for BRL can be written R$. The Brazilian Real is divided into 100 centavos. The exchange rate for the Brazilian Real was last updated on Today from The International Monetary Fund. The BRL conversion factor has 6 significant digits.

Economy

• Brazil has a free-market economy.
• The GDP growth is 5% and is Brazil is rated as a fast-growing economy.
• Predictions are that Brazil’s economy will be the 5th largest in the world.
• Unemployment is estimated at 6%.
• The main industries are coal, airplanes, consumer products, textiles, ore, iron, steel, cement, fertilizers, toys, electronics, and armaments.
• Export products are footwear, coffee, paper, steel, machinery, transport equipment, automotive parts, and machinery.
• Import products are chemical products, electronics, machinery, oil, and transport equipment.

History

• The new modernized Real was introduced in 1994 to stabilize the Brazilian economy. At that stage the exchange rate was 1 Real = 1 USD.
• The first series of Real coins was launched in 1994 and they were used until 1997.
• From 1996 to 1998, the Central Bank of Brazil controlled the exchange rate.
• The second series of real coins were introduced in 1998 and are still being used.
• In 1999, the new President of the Central Bank decided to release the control over the exchange rate and the real suffered a massive devaluation to 2 Real = 1 USD.
• In 2002, the real reached its lowest exchange rate against the USD (4 Real = 1 USD).
• Since 2002, the real has been fluctuating; only in 2007 was it rated higher than the USD, reaching 0.5 Real = 1 USD.
• In 2004, new polymer banknotes were launched.

More information about BRL - Brazilian Real (R$)