AFN to GIP

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 (؋)

GIP - Gibraltar Pound (£)

Gibraltar Pound

Gibraltar is a British territory located at the southern end of the Iberian Peninsula, at the strategic entrance to the Mediterranean Sea from the Atlantic Ocean. The territory is a mountainous peninsula with an area of 6,843 km sq, and shares a northern border with Andalusia, Spain. The Rock of Gibraltar is an important reference point in the region.

The Gibraltar Pound is the currency in Gibraltar (GI, GIB). The symbol for GIP can be written G. The Gibraltar Pound is divided into 100 pence. The exchange rate for the Gibraltar Pound was last updated on May 24, 2019 from Yahoo Finance. The GIP conversion factor has 5 significant digits.

Economy

• The British military traditionally dominated the economy of Gibraltar, with its naval dockyard providing the bulk of economic activity. Military enterprise has declined over the last twenty years and is estimated to account for only 7% of the local economy, compared with more than 60% in 1984.
• Today, Gibraltar's economy is dominated by four major sectors - financial services, online gaming, navigation and tourism (including sales to visitors).

History

• The Real (Spanish “real de plata”) was the official currency of Gibraltar until 1825.
• From 1825, the Real continued to circulate alongside the British and Spanish currencies, tied to the Pound at the rate of 1 Spanish Dollar to 4 shillings 4 pence (equivalent to 21.67 pence today). In 1872 the Spanish currency became the sole legal tender in Gibraltar.
• In 1898, the Spanish-American War caused the Spanish Peseta to drop alarmingly, so the Gibraltar Pound was introduced as the sole legal tender in the colony, initially in the form of British coins and banknotes.
• In 1988, Gibraltar Pound coins in denominations of 1, 2, 5, 10, 20 and 50 pence and 1 pound were introduced which bore specific designs for and the name of Gibraltar. They were the same sizes and compositions as corresponding British coins
• 2-pound coins were introduced in 1999, and a new 5-pound coin was issued in 2010 with the inscription "Elizabeth II • Queen of Gibraltar".

More information about GIP - Gibraltar Pound (£)