AFN to UZS

AFN - Afghan Afghani (؋)
UZS - Uzbekistani Som (сўм)
1 AFN1 UZS

Currency conversion rates from AFN to UZS

AFNUZS
1 AFN1 UZS
5 AFN5 UZS
10 AFN10 UZS
20 AFN20 UZS
50 AFN50 UZS
100 AFN100 UZS
250 AFN250 UZS
500 AFN500 UZS
1000 AFN1000 UZS
2000 AFN2000 UZS
5000 AFN5000 UZS
10000 AFN10000 UZS
UZSAFN
1 UZS1 AFN
5 UZS5 AFN
10 UZS10 AFN
20 UZS20 AFN
50 UZS50 AFN
100 UZS100 AFN
250 UZS250 AFN
500 UZS500 AFN
1000 UZS1000 AFN
2000 UZS2000 AFN
5000 UZS5000 AFN
10000 UZS10000 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 (؋)


UZS - Uzbekistani Som (UZS)

Uzbekistani Som

When the Som was introduced, 25 Som were equal to 1 US Dollar. Currently, the largest denomination of Uzbek currency, the 1,000-som bill, is worth approximately 60 cents U.S, requiring Uzbeks to carry enormous numbers of bills just to do grocery shopping and pay bills. The Som was initially a word which was used in Uzbekistan to describe the Ruble, so the Som is simply another word for it.

The Uzbekistani Som is the currency in Uzbekistan (UZ, UZB). The Uzbekistani Som is also known as the Sum, the Soum, and the Soom. The Uzbekistani Som is divided into 100 tiyin (tien or tyn). The exchange rate for the Uzbekistani Som was last updated on May 24, 2019 from Yahoo Finance. The UZS conversion factor has 5 significant digits.

Economy

  • Since independence, the government of Uzbekistan has stated that it is committed to a gradual transition to a market-based economy.
  • Progress with economic policy reforms has been cautious, but Uzbekistan has made respectable achievements.
  • The government has not yet removed the gap between the black market and official exchange rates by successfully introducing convertibility of the national currency.
  • The restrictive trade regime and interventionist policies continue to have a negative effect on the economy.
  • Substantial structural reform is needed, particularly in the areas of improving the investment climate for foreign investors, strengthening the banking system, and freeing the agricultural sector from state control.

History

  • On July 1st, 1994, a second Som was introduced at a rate of 1 new Som = 1,000 old Som. This Som is subdivided into 100 tiyin.
  • The Som as it exists today came into use in 1993, when it was an official Uzbekistan currency, as opposed to being a Russian Ruble, which was used as the official currency of Uzbekistan until then.
  • The Som was originally introduced with no subdivision. However, this Som was subject to serious levels of inflation and only lasted until 1994, when it was devalued (at the rate of 1,000:1) when the second Som was introduced.
  • Coins were also introduced, whereas previously the Som had been issued only in the form of notes. However, the devaluation seems to have worked and the inflation rate in Uzbekistan is only just over 7%, so the currency is relatively stable.

More information about UZS - Uzbekistani Som (UZS)