AFN to KWD

AFN - Afghan Afghani (؋)
KWD - Kuwaiti Dinar (د.ك.‏)
1 AFN1 KWD

Currency conversion rates from AFN to KWD

AFNKWD
1 AFN1 KWD
5 AFN5 KWD
10 AFN10 KWD
20 AFN20 KWD
50 AFN50 KWD
100 AFN100 KWD
250 AFN250 KWD
500 AFN500 KWD
1000 AFN1000 KWD
2000 AFN2000 KWD
5000 AFN5000 KWD
10000 AFN10000 KWD
KWDAFN
1 KWD1 AFN
5 KWD5 AFN
10 KWD10 AFN
20 KWD20 AFN
50 KWD50 AFN
100 KWD100 AFN
250 KWD250 AFN
500 KWD500 AFN
1000 KWD1000 AFN
2000 KWD2000 AFN
5000 KWD5000 AFN
10000 KWD10000 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 (؋)


KWD - Kuwaiti Dinar (ك)

Kuwaiti Dinar

The Kuwaiti Dinar is the official currency of Kuwait, a nation that lies on the north-western shore of the Persian Gulf. It is bordered by Saudi Arabia to the south and Iraq to the north. The emirate covers an area of 17,820 square kilometers (6,880 sq mi) and has a population of about 3.6 million.

The Kuwaiti Dinar is the currency in Kuwait (KW, KWT). The Kuwaiti Dinar is also known as the New Kuwaiti Dinar. The symbol for KWD can be written KD. The Kuwaiti Dinar is divided into 1000 fils. The exchange rate for the Kuwaiti Dinar was last updated on Today from The International Monetary Fund. The KWD conversion factor has 6 significant digits.

Economy

  • Kuwait has a GDP (PPP) of 167.9 billion USD and per capita income of 81,800 USD, which makes it the fifth richest country in the world per capita.
  • Kuwait has proven crude oil reserves of 104 million oil barrels (15 km³), estimated to be 10% of the world’s reserves. According to the Constitution of Kuwait, all natural resources in the country and the associated revenues are government property.
  • As Kuwait is a tax-free country, the oil industry represents 80% of government revenue. Petroleum and petrochemicals account for nearly half of the GDP and 95% of all export earnings.
  • Since 2003, increasing oil prices have led to an increase in the economy of Kuwait.
  • In 2007, estimated exports stood at 59.97 billion USD and imports were about 17.74 billion USD.
  • The main exports are petroleum, petrochemicals, fertilizers, and financial services.
  • Kuwait imports a wide range of products, from food and textiles to machinery.
  • Kuwait's most important trading partners are Japan, the USA, India, South Korea, Singapore, China, the European Union, and Saudi Arabia.
  • Japan is the largest consumer of Kuwaiti oil, followed by India, Singapore, and South Korea.

History

  • The Kuwaiti Dinar was introduced in 1961 to replace the Gulf Rupee. At first it was equivalent to British Pound Sterling. As the Rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13⅓ Rupees to the Dinar.
  • When Iraq invaded Kuwait in 1990, the Iraqi Dinar replaced the Kuwaiti Dinar. Coins and a large quantity of banknotes were stolen by the invading forces. After liberation, the Kuwaiti Dinar was restored as the country's currency and a new banknote series was introduced.
  • To date five series of Kuwaiti Dinar banknotes have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960, which established the Kuwaiti Currency Board. This series was in circulation from April 1, 1961 to February 1, 1982 and consisted of denominations of ¼, ½, 1, 5, and 10 dinars.
  • After the Central Bank of Kuwait replaced the Kuwait Currency Board, new ¼, ½, and 10 dinar notes were issued in November, 1970, followed by new 1 and 5 dinar notes in April, 1971. This second series was withdrawn on February 1, 1982.

More information about KWD - Kuwaiti Dinar (ك)