AFN to XAF

AFN - Afghan Afghani (؋)
XAF - Central African CFA Franc (FCFA)
1 AFN1 XAF

Currency conversion rates from AFN to XAF

AFNXAF
1 AFN1 XAF
5 AFN5 XAF
10 AFN10 XAF
20 AFN20 XAF
50 AFN50 XAF
100 AFN100 XAF
250 AFN250 XAF
500 AFN500 XAF
1000 AFN1000 XAF
2000 AFN2000 XAF
5000 AFN5000 XAF
10000 AFN10000 XAF
XAFAFN
1 XAF1 AFN
5 XAF5 AFN
10 XAF10 AFN
20 XAF20 AFN
50 XAF50 AFN
100 XAF100 AFN
250 XAF250 AFN
500 XAF500 AFN
1000 XAF1000 AFN
2000 XAF2000 AFN
5000 XAF5000 AFN
10000 XAF10000 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 (؋)


XAF - Central African CFA Franc (XAF)

Central African CFA Franc

The CFA Franc BEAC is pegged to the Euro at 1 Euro = 655.957 XAF. It is the currency for six independent states in central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.

The Central African CFA is the currency in Cameroon (CM, CMR), Central African Republic (CF, CAF), Chad (TD, TCD), Congo (CG, COG), Equatorial Guinea (GQ, GNQ), and Gabon (GA, GAB). The Central African CFA is also known as Communaute Financiere Africaine BEAC Francs. The symbol for XAF can be written CFAF. The Central African CFA is divided into 100 centimes. The exchange rate for the Central African CFA was last updated on Today from The International Monetary Fund. The XAF conversion factor has 6 significant digits.

Economy

  • Cameroon is one of the most prosperous countries in Africa. The drop in commodity prices for its principal exports—petroleum, cocoa, coffee, and cotton—in the mid-1980s, combined with an overvalued currency and economic mismanagement, led to a decade-long recession. Real per-capita GDP fell by more than 60% from 1986 to 1994.
  • The Central African Republic (CAR) is classified as one of the world's least developed countries, with an estimated annual per capita income of $700 (2009).
  • Landlocked Chad's economic development suffers from its geographic remoteness, drought, lack of infrastructure, and political turmoil. About 85% of the population depends on agriculture, such as the herding of livestock.
  • The economy of the Republic of the Congo is a mixture of village agriculture and handicrafts, an industrial sector based largely on petroleum extraction, support services, and a government characterized by budget problems and overstaffing.
  • Equatorial Guinea‘s GDP has forestry, farming, and fishing as major components. Subsistence farming predominates. Although pre-independence Equatorial Guinea counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished the potential for agriculture-led growth.
  • Gabon depended on timber and manganese until oil was discovered offshore in the early 1970s. The oil sector now accounts for 50% of GDP and 80% of exports. Oil production is now declining from its peak of 370,000 barrels per day (59,000 m3/d) in 1997. The 1998 fall-off in oil prices had a negative impact on government revenues and the economy. Gabon public expenditures from the years of significant oil revenues were not spent well.

History

  • BEAC stands for Banque des Etats de l'Afrique Centrale.
  • The CFA Franc BEAC was introduced to the French colonies in Equatorial Africa in 1945, replacing the French Equatorial African Franc. The equatorial African colonies and territories using the CFA Franc BEAC were Chad, French Cameroun, French Congo, Gabon and Ubangi-Shari.
  • The currency continued in use when these colonies gained their independence. Equatorial Guinea, the only former Spanish colony in the zone, adopted the CFA Franc in 1984, replacing the Equatorial Guinean Ekwele at a rate of 1 Franc = 4 Bipkwele.
  • In 1948, coins were issued for use in all colonies (except French Cameroon) in denominations of 1 and 2 CFA Franc BEAC. This was the last minting of a 2-franc coin for nearly 50 years.
  • In 1958, 5-, 10- and 25-franc coins were minted (and used in French Cameroon). These coins bore the name of Cameroon, as well as the États de l'Afrique Equatorial.
  • In 1961, nickel 50-franc coins were introduced, followed by nickel 100-franc coins in 1966. Since 1971, 100-franc coins were issued by individual states. In 1976, cupro-nickel 500 francs coins were introduced.
  • Since 1985, coins have also been issued by individual states. That year also saw the introduction of 5-, 25-, 50- and 100-franc coins for use in Equatorial Guinea.
  • When the CFA Franc BEAC was introduced, notes issued by the Caisse Centrale de la France d'Outre-Mer ("Central Cashier of Overseas France") in denominations of 5, 10, 20, 100 and 1,000 Francs were in circulation. In 1947, a new series of notes was introduced for use in French Equatorial Africa, although the notes did not bear the name of the colonies. Notes were issued in denominations of 5, 10, 20, 50, 100 and 1,000 Francs, followed by those of 500 Francs in 1949, and 5,000 Francs in 1952.

More information about XAF - Central African CFA Franc (XAF)