AFN to YER

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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YER - Yemeni Rial (﷼)

Yemeni Rial

The official currency of Yemen is the Yemeni Rial. The Rial is sub-divided into 100 fils, although fils coins have not been issued since the unification of Yemen in 1990.

The Yemeni Rial is the currency in Yemen (YE, YEM). The symbol for YER can be written YRls. The Yemeni Rial is divided into 100 fils. The exchange rate for the Yemeni Rial was last updated on May 24, 2019 from Yahoo Finance. The YER conversion factor has 4 significant digits.

Economy

• Yemen is one of the poorest and least developed in the Arab world, with a 35% rate of employment, declining natural resources, and a relatively young and rapidly growing population.
• Yemen’s oil supply is much more limited than its Middle Eastern peers, leading to a much weaker economy than its neighbours.
• Yemen's economy depends heavily on oil it produces, and his government receives most of its revenue from oil taxes. But Yemen's oil reserves are expected to be depleted by 2017, possibly leading to economic collapse.
• Yemen has large reserves of natural gas. Liquefied natural gas production began in October 2009.

History

• For the first few years after the unification of Yemen, both the (northern) Yemen Arab Republic Rial and the (southern) Democratic Republic of Yemen Dinar remained legal tender. A Dinar was worth 26 Rials.
• In 1993, the first coins were issued by the Republic of Yemen, replacing the 1 and 5 rial notes. 10 rial and 20 rial coins were issued in 1995 and 2004, respectively.
• On June 11, 1996, the Dinar was withdrawn from circulation and the Rial became the official currency of the combined entity.

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