AFN to INR

AFN - Afghan Afghani (؋)
INR - Indian Rupee ()
1 AFN1 INR

Currency conversion rates from AFN to INR

AFNINR
1 AFN1 INR
5 AFN5 INR
10 AFN10 INR
20 AFN20 INR
50 AFN50 INR
100 AFN100 INR
250 AFN250 INR
500 AFN500 INR
1000 AFN1000 INR
2000 AFN2000 INR
5000 AFN5000 INR
10000 AFN10000 INR
INRAFN
1 INR1 AFN
5 INR5 AFN
10 INR10 AFN
20 INR20 AFN
50 INR50 AFN
100 INR100 AFN
250 INR250 AFN
500 INR500 AFN
1000 INR1000 AFN
2000 INR2000 AFN
5000 INR5000 AFN
10000 INR10000 AFN

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 (؋)


INR - Indian Rupee ()

The Indian rupee is the currency of India. The rupee’s currency code is INR, and its symbol is ₹. This symbol has origins in the Indian flag, and incorporates the flag’s horizontal stripes. Foreigners are not generally allowed to take INR in or out of India, so currency exchange must occur within the country.

The Indian Rupee is the official currency of the Republic of India, and is issued by the Reserve Bank of India. The Rupee is subdivided into 100 paise, although only a 50 paise coin is now issued as legal tender. The symbol for the Indian Rupee was officially adopted in 2010 after a design competition, and derives from the Devanagari letter “Ra.” The reverse side of Rupee banknotes show amounts in 15 of India’s 22 official languages (the obverse side shows English and Hindi). Neighboring countries Nepal and Bhutan peg their currencies to the Rupee, and accept it as legal ender.

The Indian Rupee is the currency in India (IN, IND). The symbol for INR can be written Rs, and IRs. The Indian Rupee is divided into 100 paise. The exchange rate for the Indian Rupee was last updated on Today from The International Monetary Fund. The INR conversion factor has 6 significant digits. Large amounts of Rupees are expressed in lakh rupees or crore rupees. A Lakh Rupee is one hundred thousand rupees and a crore rupee is ten million rupees.

Economy

  • By market exchange rates, the Indian economy is worth US$1.8 trillion (2011), around the tenth largest in the world. By purchasing power parity (PPP), the economy is estimated at US$4.06 trillion, the fourth largest.
  • India is one of the fastest growing economies in the world. However, its Gross Domestic Product (GDP) per capita is still low.
  • Slightly more than half of the work force is in agriculture, but the agricultural sector only contributes 17% to GDP. Services are the major source of economic growth and account for more than half of India's output using a third of its workforce. India is a major exporter of information technology services and software workers.
  • Prior to 1991, Indian governments adhered to protectionist policies, isolating the economy from the outside world. Since 1991, the country has moved towards a free market system, emphasizing both foreign trade and direct investment.

History

  • Peoples living in modern-day India were some of the first to use coins (around the sixth century BC).
  • Sher Shah Suri (1486-1545) is believed to have issued the first Rupee, based on a ratio of 40 copper pieces (paisa) per Rupee.
  • After India’s independence in 1947, the Rupee replaced all the currencies of previously autonomous states.
  • In 1957, the Rupee was divided into 100 naye paise (Hindi for "new country").
  • The Rupee was fixed to the British Pound from 1927–1946 and then to the US Dollar until 1975. It was devalued in 1975 but still fixed to a basket of four major currencies.
  • The Rupee is steadily appreciating against the US Dollar. In 2009, the rising Rupee prompted the Indian government to purchase 200 tons of gold from the IMF, for $6.7 billion.

More information about INR - Indian Rupee ()