AFN to MGA

AFN - Afghan Afghani (؋)
MGA - Malagasy Ariary (Ar)
1 AFN1 MGA

Currency conversion rates from AFN to MGA

AFNMGA
1 AFN1 MGA
5 AFN5 MGA
10 AFN10 MGA
20 AFN20 MGA
50 AFN50 MGA
100 AFN100 MGA
250 AFN250 MGA
500 AFN500 MGA
1000 AFN1000 MGA
2000 AFN2000 MGA
5000 AFN5000 MGA
10000 AFN10000 MGA
MGAAFN
1 MGA1 AFN
5 MGA5 AFN
10 MGA10 AFN
20 MGA20 AFN
50 MGA50 AFN
100 MGA100 AFN
250 MGA250 AFN
500 MGA500 AFN
1000 MGA1000 AFN
2000 MGA2000 AFN
5000 MGA5000 AFN
10000 MGA10000 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 (؋)


MGA - Malagasy Ariary (MGA)

Malagasy Ariary

The Malagasy Ariary is the official currency of Madagascar. The Ariary is one of only two circulating currencies in the world whose division units are not based on a power of ten. The names Ariary is derived from the pre-colonial currency, which is a silver dollar. 1 Malagasy Franc = 0.2 Ariary.

The Malagasy Ariary is the currency in Madagascar (MG, MDG). The symbol for MGA can be written MGA. The exchange rate for the Malagasy Ariary was last updated on May 24, 2019 from Yahoo Finance. The MGA conversion factor has 5 significant digits.

Economy

  • A socialist economy in the past, since the mid-90s Madagascar has been following the policies of liberalization and privatization of the IMF and the World Bank. The county’s economy has been steadily improving from its previously low level.
  • The main economic bases for growth and development are agriculture, forestry, and fishing, which account for more than 25% of the GDP and 80% of the overall population.
  • Madagascar’s export of apparels has increased in the recent years, due to its current duty-free access to the United States.

History

  • The Ariary was introduced in 1961, replacing the Malagasy Franc at 1 Ariary = 5 Francs.
  • Since 1961, coins and banknotes have been issued in both Francs and Ariary.
  • At first, the Franc currency was more popular, but by 1978 the Ariary currency was more valued.
  • In 1993, the Ariary became still more popular when new 500 and 5,000 Ariary banknotes were released, together with 2,500 and 25,000 Franc banknotes.
  • Both Ariary and Franc banknotes were released on July 31, 2003 in prominent denominations. However, fewer Franc banknotes were printed. Lower denominations of Ariary coins were also issued in the same year.
  • On January 1, 2005, the Ariary replaced the Franc as the official currency of Madagascar.

More information about MGA - Malagasy Ariary (MGA)