AFN to MYR

AFN - Afghan Afghani (؋)
MYR - Malaysian Ringgit (RM)
1 AFN1 MYR

Currency conversion rates from AFN to MYR

AFNMYR
1 AFN1 MYR
5 AFN5 MYR
10 AFN10 MYR
20 AFN20 MYR
50 AFN50 MYR
100 AFN100 MYR
250 AFN250 MYR
500 AFN500 MYR
1000 AFN1000 MYR
2000 AFN2000 MYR
5000 AFN5000 MYR
10000 AFN10000 MYR
MYRAFN
1 MYR1 AFN
5 MYR5 AFN
10 MYR10 AFN
20 MYR20 AFN
50 MYR50 AFN
100 MYR100 AFN
250 MYR250 AFN
500 MYR500 AFN
1000 MYR1000 AFN
2000 MYR2000 AFN
5000 MYR5000 AFN
10000 MYR10000 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 (؋)


MYR - Malaysian Ringgit (RM)

The Malaysian ringgit is the official currency of Malaysia. Its currency code is MYR and its symbol is RM. Its conversion factor has 6 significant digits, and it is a fiat currency. The ringgit is known globally to be a stable currency.

The Ringgit, unofficially called the Malaysian Dollar, has been Malaysia’s official currency since 1975. Malaysia replaced the Spanish silver dollar with the Indian Rupee in 1837. After 30 years the country decided to reintroduce the Spanish silver dollar. In 1903, Malaysia changed its currency to the Straits Dollar, which was pegged at two shillings to the British Pound.

The Malaysian Ringgit is the currency in Malaysia (MY, MYS). The symbol for MYR can be written RM. The Malaysian Ringgit is divided into 100 sen. The exchange rate for the Malaysian Ringgit was last updated on Today from The International Monetary Fund. The MYR conversion factor has 6 significant digits.

Economy

  • Malaysia’s economy previously relied on the production of agricultural export commodities and minerals, but now it relies on manufacturing and services.
  • There was a major change in Malaysia’s economy in the last decade, which affected most of their capital investments.
  • Economic downturns in the last six years have severely damaged the country’s investments.

History

  • On June 12, 1967, the Bank of Negara Malaysia, the central bank of Malaysia, issued the Malaysian Dollar to replace the British Borneo and Malayan Dollar at par.
  • After it replaced the British Borneo Dollar, the Malaysian Dollar was originally valued at 8.57 dollars = 1 British Pound Sterling. Within the first 5 months, the Malaysian Dollar had decreased in value by 14.3%.
  • From 1995 to 1997, the Ringgit was was trading as a free-float currency at around 2.50 to the US Dollar, before dropping to 3.80 to the Dollar by the end of 1997.
  • The currency value fluctuated from 3.80 to 4.40 to the dollar before Bank Negara Malaysia pegged the Ringgit to the US Dollar in September 1998.
  • As of September 4, 2008, the Ringgit still had not regained its value against the Singapore Dollar, Australian Dollar, the Euro, or the British Pound.

More information about MYR - Malaysian Ringgit (RM)