AFN to LAK

AFN - Afghan Afghani (؋)
LAK - Laotian Kip ()
1 AFN1 LAK

Currency conversion rates from AFN to LAK

AFNLAK
1 AFN1 LAK
5 AFN5 LAK
10 AFN10 LAK
20 AFN20 LAK
50 AFN50 LAK
100 AFN100 LAK
250 AFN250 LAK
500 AFN500 LAK
1000 AFN1000 LAK
2000 AFN2000 LAK
5000 AFN5000 LAK
10000 AFN10000 LAK
LAKAFN
1 LAK1 AFN
5 LAK5 AFN
10 LAK10 AFN
20 LAK20 AFN
50 LAK50 AFN
100 LAK100 AFN
250 LAK250 AFN
500 LAK500 AFN
1000 LAK1000 AFN
2000 LAK2000 AFN
5000 LAK5000 AFN
10000 LAK10000 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 (؋)


LAK - Laotian Kip (LAK)

Laotian Kip

The Lao Kip has been the official currency of Laos since 1952, when it replaced the French Indochinese Piastre at par. At the time, the Kip was sub-divided into 100 att. The symbol for the Lao Kip is ₭.

The Lao Kip is the currency in Laos (People's Democratic Republic of Lao, LA, LAO). The symbol for LAK can be written KN. The Lao Kip is divided into 100 at. The exchange rate for the Lao Kip was last updated on May 24, 2019 from Yahoo Finance. The LAK conversion factor has 5 significant digits.

Economy

  • Laos's economy depends heavily on investment and trade with its neighbors, Thailand, Vietnam, and especially in the north, China. Pakxe has also experienced growth based on cross-border trade with Thailand and Vietnam.
  • In 2011, the Democratic Republic of the stock market began trading.
  • Laos is rich in mineral resources, oil and gas imports. Metallurgy is an important industry, and the government hopes to attract foreign investment to develop the important coal deposits, gold, bauxite, tin, copper and other precious metals.
  • Abundant water resources of the country and mountainous terrain enable them to produce and export large amounts of hydroelectric power. Potential capacity of approximately 18,000 megawatts, about 8,000 megawatts have been committed for export to Thailand and Vietnam.

History

  • The first version of the Lao Kip was released in 1945-1946. The Free Kip government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 10 Kip before the French authorities took control of the region.
  • In 1952, the Lao Kip was reintroduced, replacing the French Indochinese Piastre at par. Coins were issued in denominations of 10, 20 and 50 cents or inscriptions att French and Lao. All were minted in aluminum and had a hole in the center, like the Chinese cash coins. The only year of issue was 1952.
  • In 1957, the government issued notes denominated solely in Lao Kip. The notes were 1, 5, 10, 20, 50, 100 and 500 Kip.
  • In 1963, 200 and 1,000 Lao Kip notes were followed by 5,000 Kip notes in 1975. All were printed in France.

More information about LAK - Laotian Kip (LAK)