AFN to NGN

AFN - Afghan Afghani (؋)
NGN - Nigerian Naira ()
1 AFN1 NGN

Currency conversion rates from AFN to NGN

AFNNGN
1 AFN1 NGN
5 AFN5 NGN
10 AFN10 NGN
20 AFN20 NGN
50 AFN50 NGN
100 AFN100 NGN
250 AFN250 NGN
500 AFN500 NGN
1000 AFN1000 NGN
2000 AFN2000 NGN
5000 AFN5000 NGN
10000 AFN10000 NGN
NGNAFN
1 NGN1 AFN
5 NGN5 AFN
10 NGN10 AFN
20 NGN20 AFN
50 NGN50 AFN
100 NGN100 AFN
250 NGN250 AFN
500 NGN500 AFN
1000 NGN1000 AFN
2000 NGN2000 AFN
5000 NGN5000 AFN
10000 NGN10000 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 (؋)


NGN - Nigerian Naira ()

The naira is the currency of Nigeria. The currency code for nairas is NGN, and the currency symbol is ₦. The most popular naira exchange is NGN to USD, where one NGN is equal to approximately 0.003 USD (as of 2016). It is a fiat currency. The conversion factor for NGN has 4 significant digits.

The Naira is the official currency of Nigeria. The Naira is subdivided into 100 kobo. The Central Bank of Nigeria is the only bank with the authority to issue legal currency in the Federation. It manages the amount of currency in circulation to ensure its stability and value.

The Nigerian Naira is the currency in Nigeria (NG, NGA). The symbol for NGN can be written N. The Nigerian Naira is divided into 100 kobo. The exchange rate for the Nigerian Naira was last updated on May 24, 2019 from Yahoo Finance. The NGN conversion factor has 4 significant digits.

Economy

  • Nigeria is very rich in oil, but is politically unstable, with insufficient infrastructure, government corruption, and poor macroeconomic management.
  • The country depends on its oil sector, which accounts for one-fifth of the GDP, more than half of the total budget, and 95% of the trade.
  • Economic reforms were made as a result of signing an agreement with IMF at the Paris Club on August 2000 and a $1 billion credit from the IMF.
  • Because of Nigeria’s failure to meet target exchange rates and expenditure, it was terminated from the IMF program on April 2002.
  • The Nigerian government has showed political determination and has implemented reforms to become market-oriented, as advised by the IMF. The reforms included modernization, curbing inflation, reforming banking systems, and resolving disagreements in the oil industry.
  • In 2003, the Nigerian government announced the privatization of its oil refineries, changed its fuel prices, and organized the National Economic Empowerment Development Strategy, which resulted in an increase in the GDP in 2004.

History

  • The Naira currency was introduced in 1973, replacing the Pound at a rate of two Naira = one Pound.
  • In 2008, there was a plan to introduce a new Naira that would have the value of 100 old Naira, but the plan was abandoned.

More information about NGN - Nigerian Naira ()