AFN to NPR

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.

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NPR - Nepalese Rupee (₨)

Nepalese Rupee

The Rupee is the official currency of Nepal and is divided into 100 paisa. The Nepal Rastra Bank controls the issuing of currency. Unlike many countries, Nepal has three main exchange rates: the Rastra Bank rates (the government’s official rate), the private banks’ rate (slightly more generous), and the black market rate (the most generous, set by carpet shops and travel agents). When you leave Nepal from the Kathmandu airport, you will be limited on how many Rupees you can convert back to foreign currency. Only up to 10% of total of all receipts for exchanges from foreign currency into rupees will be converted back to international currencies.

The Nepalese Rupee is the currency in Nepal (NP, NPL). The symbol for NPR can be written NRs. The Nepalese Rupee is divided into 100 paise. The exchange rate for the Nepalese Rupee was last updated on January 18, 2019 from The International Monetary Fund. The NPR conversion factor has 6 significant digits.

Economy

• Nepal’s GDP was most recently estimated at over US$12 billion (2008). GDP is comprised primarily of services (41%) and agriculture (40%), though agriculture employs roughly 75% of the country’s 10 million person workforce. The major types of produce include tea, rice, corn, wheat, sugarcane, milk, and water buffalo meat. Skilled labor represents one of the biggest impediments to economic growth.
• Roughly 25% of the population lives below the international poverty line (US$1.25 per day). Nepal is a recipient of aid from many Asian, North American, and European nations.
• Exports primarily consist of commodities (gold, machinery, petroleum products, fertilizer), textiles (carpets, leather goods, clothing), and grains.

History

• In 1932, the Rupee was introduced, replacing the silver Mohar at a rate of two Mohar = one Rupee. In Nepalese, mohru was the first name of the Rupee.
• In 1933, the value of the Nepalese Rupee was pegged to the Indian Rupee at a rate of 1.6 Nepalese Rupees = 1 Indian Rupee.
• In the 1940s and 1950’s, coins were made from nickel, brass, and bronze.
• In 1966, aluminum coins were introduced to replace the smaller denomination 1, 2, and 5 paisa, and brass coins replaced the 10 paisa coin.
• Banknotes were introduced in 1951, in 1, 5, 10, and 100 Rupee denominations. 500 and 1,000 Rupee notes were added in 1972.

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