AFN to KMF

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 (؋)

KMF - Comorian Franc (KMF)

Comorian Franc

The Comoros Franc is pegged to the Euro at 491.96775 Francs = 1 Euro. Comoros is an island nation off the east coast of Africa between Mozambique and Madagascar. The Comoros is the only state to be a member of all of the following organizatins: African Union, Francophonie, Organisation of Islamic Cooperation, Arab League, and Indian Ocean Commission.

The Comorian Franc is the currency in Comoros (KM, COM). The symbol for KMF can be written CF. The exchange rate for the Comorian Franc was last updated on May 24, 2019 from Yahoo Finance. The KMF conversion factor has 5 significant digits.

Economy

• Comoros is one of the world's poorest countries. Economic growth and poverty reduction are top priorities for the government.
• The unemployment rate is 14.3%, which is considered very high.
• Agriculture, including fishing, hunting, and forestry, is the most important sector of the economy and provides employment for 38.4% of the population.
• The high density of population, as many as 1,000 per square kilometer in the densest agricultural areas, may lead to an environmental crisis in the near future, especially given the high rate of population growth.
• The GDP decreased by 1.9% in 2004, and real GDP per capita had been declining each year to that point. This is due to such factors as decline in investment, falling consumption, rising inflation, and the increase in trade imbalance, due partly to low prices for cash crops, especially vanilla.

History

• On July 1, 1925, the French government made an agreement with the Banque de Paris et des Pays-Bas to create the Bank of Madagascar, based in Paris, and gave it a private monopoly to issue currency for the colony of Madagascar.
• The Malagasy Franc was equivalent to the French Franc and French coins continued to circulate in Madagascar, as it had no coins of its own until 1943.
• In 1950, the French government took over majority ownership of the Banque de Madagascar et des Comores.
• On January 1, 1960 the French Franc was revalued, with 100 old Francs = 1 new Franc. The value of the new franc was 1 Comores Franc = 0.02 French francs (50 Comoros francs = 1 French franc).
• Until January 12, 1994, the Comores Franc was pegged to the French Franc at the rate of 50 Comores Francs = 1 French Franc. On the same date, the currency was devalued along with the CFA Franc BEAC devaluation. However, the Comores Franc was devalued by one-third to a new rate of 75 Comores Francs = 1 French Franc, while the CFA Franc’s new rate was 100 CFA Francs = 1 French Franc.
• When the Euro was created in January 1999, the Comoros Franc was pegged at its prevailing rate to the new currency. The exchange rate is now 491.96775 Comoros Francs = 1 Euro.

More information about KMF - Comorian Franc (KMF)