AFN to SYP

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 (؋)

SYP - Syrian Pound (£)

Syrian Pound

The Syrian Pound is the official currency of Syria and is issued by the Central Bank of Syria. The Pound is categorized into 100 qirsh, although qirsh coins are no longer issued.

The Syrian Pound is the currency in Syria (Syrian Arab Republic, SY, SYR). The Syrian Pound is also known as the Syrian Lira, Livre, and Livres Syrien. The symbol for SYP can be written S, S, SP, and LS. The Syrian Pound is divided into 100 piasters. The exchange rate for the Syrian Pound was last updated on May 24, 2019 from Yahoo Finance. The SYP conversion factor has 5 significant digits.

Economy

• Syria has gradually become a major player in the world economy and is a leader among middle-eastern countries. Syria is considered a middle-income nation and has a very varied and stable economy.
• The main industries are agriculture, energy, and commerce. Although the government and major business owners are well off, the majority of Syrians struggle to earn a decent living.
• Commerce has long been essential to the economy of Syria because of the country’s placement along major trade routes. Syrian businesses rely on a wide variety of industries — from weaving and fruit packing to heavy civil construction.
• The majority of the country’s imports are raw materials that are used for agriculture and commerce.
• Crude and refined oil is by far the largest export, but other products such as cotton, fruits, grains, and clothing are also essential exports.

History

• During the approximately 400 years that Syria was part of the Ottoman Empire, the currency was the Turkish Lira.
• After the Ottoman Empire was dismantled, Syria was put under a compulsory French occupation, and the Egyptian Pound was used in all the territories under French and British mandates, including Lebanon, Transjordan, and Palestine.
• In 1947, the US Dollar was adopted as the peg for the Syrian currency, with 2.19148 Pounds = 1 USD, a rate which was maintained until 1961.

More information about SYP - Syrian Pound (£)