AFN to KPW

AFN - Afghan Afghani (؋)
KPW - North Korean Won (KPW)
1 AFN1 KPW

Currency conversion rates from AFN to KPW

AFNKPW
1 AFN1 KPW
5 AFN5 KPW
10 AFN10 KPW
20 AFN20 KPW
50 AFN50 KPW
100 AFN100 KPW
250 AFN250 KPW
500 AFN500 KPW
1000 AFN1000 KPW
2000 AFN2000 KPW
5000 AFN5000 KPW
10000 AFN10000 KPW
KPWAFN
1 KPW1 AFN
5 KPW5 AFN
10 KPW10 AFN
20 KPW20 AFN
50 KPW50 AFN
100 KPW100 AFN
250 KPW250 AFN
500 KPW500 AFN
1000 KPW1000 AFN
2000 KPW2000 AFN
5000 KPW5000 AFN
10000 KPW10000 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 (؋)


KPW - North Korean Won (KPW)

North Korean Won

The North Korean Won is is the official currency of North Korea, which occupies the northern half of the Korean Peninsula. Its capital and largest city is Pyongyang. The Korean Demilitarized Zone serves as the buffer zone between North Korea and South Korea. The Amnok, or Yalu, and the Tumen rivers form the border between North Korea and China.

The North Korean Won is the currency in North Korea (Democratic People's Republic of Korea, KP, PRK). The symbol for KPW can be written Wn. The North Korean Won is divided into 100 chon. The exchange rate for the North Korean Won was last updated on May 24, 2019 from Yahoo Finance. The KPW conversion factor has 4 significant digits.

Economy

  • North Korea is an industrialized, almost self-sufficient, highly-centralized economy. Of the five remaining communist countries in the world, North Korea is one of the two (along with Cuba) with an almost entirely government-planned, state-owned economy.
  • The Central Planning Committee develops, monitors, and executes business plans, while Provincial Departments of Industry in each region are responsible for the management of local manufacturing facilities, production, resource allocation, and sales.
  • Food rations, housing, health, and education are free, and taxes were abolished on April 1, 1974.
  • In order to increase productivity in agriculture and industry, the government has introduced a range of management systems, such as the Taean work system.
  • Since 2000, the growth of North Korea’s GDP has been slow but steady. By 2008 growth had accelerated to 3.7%, the fastest pace in almost a decade, largely due to strong growth of 8.2% in the agricultural sector.

History

  • The North Korean Won became the currency of North Korea on December 6, 1947, replacing the Korean Yen.
  • North Korean Won are intended exclusively for North Korean citizens, and the Bank of Trade issued a separate currency for visitors, as did many other socialist states. However, North Korea made two varieties of foreign exchange certificates: one for visitors from socialist countries, which were colored red, and one for visitors from capitalist countries, which were colored blue/green. In recent times, FECs have been largely depreciated in favor of visitors paying directly with hard currency, especially Euros.
  • Since 2001, the North Korean government has abandoned the iconic rate of 2.16 Won to the US Dollar (which is said to have been based upon Kim Jong-il's birthday, February 16) and banks in the country now issue at rates closer to the black market rate.
  • More recent official rates (as of August 24, 2010) have shown the North Korean Won to be valued at 143.07 to the US Dollar. However, rampant inflation has been eroding the North Korean Won's value to such an extent that it is now thought to be worth about the same as the South Korean Won.
  • In June, 2009, a report by defectors from North Korea claimed that the black market rate was 570 Won to the Chinese Yuan Renminbi. In any case, the U.S. dollar and other currencies are still worth more in North Korean Won on the black market than officially.

More information about KPW - North Korean Won (KPW)