AFN to ZAR

AFN - Afghan Afghani (؋)
ZAR - South African Rand (R)
1 AFN1 ZAR

Currency conversion rates from AFN to ZAR

AFNZAR
1 AFN1 ZAR
5 AFN5 ZAR
10 AFN10 ZAR
20 AFN20 ZAR
50 AFN50 ZAR
100 AFN100 ZAR
250 AFN250 ZAR
500 AFN500 ZAR
1000 AFN1000 ZAR
2000 AFN2000 ZAR
5000 AFN5000 ZAR
10000 AFN10000 ZAR
ZARAFN
1 ZAR1 AFN
5 ZAR5 AFN
10 ZAR10 AFN
20 ZAR20 AFN
50 ZAR50 AFN
100 ZAR100 AFN
250 ZAR250 AFN
500 ZAR500 AFN
1000 ZAR1000 AFN
2000 ZAR2000 AFN
5000 ZAR5000 AFN
10000 ZAR10000 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 (؋)


ZAR - South African Rand (R)

The South African rand is the currency of South Africa. Its symbol is simply ‘R’, and its currency code is ZAR, from the Dutch ‘zuid-afrikaanse rand’, or South African rand. The rand is fiat money, and its conversion factor has 6 significant digits. The most popular South African rand exchange is with the US dollar. The rand is the 18th most traded currency in the world.

The South African Rand is the currency of South Africa, and is issued by the South African Reserve Bank. The currency takes its name from the Witwatersrand ("White-waters-ridge"), the ridge where most of South Africa's gold deposits were found and where Johannesburg was built. The Rand has the symbol "R" and is subdivided into 100 cents.

The South African Rand is the currency in South Africa (ZA, ZAF). The South African Rand is also known as Rands. The symbol for ZAR can be written R. The South African Rand is divided into 100 cents. The exchange rate for the South African Rand was last updated on Today from The International Monetary Fund. The ZAR conversion factor has 6 significant digits.

Economy

  • Daunting economic problems remain from the apartheid era, including poverty, lack of economic empowerment for the disadvantaged, and inadequate public transportation. Unemployment is extremely high (approaching 25%), and South Africa ranks poorly for income inequality, as measured by the Gini coefficient.
  • Growth has recovered in recent years, but unemployment remains high and outdated infrastructure constrains growth.
  • A Commission established in 1956 recommended giving up the pound sterling and associated terms pounds, shillings and pence in favor of a new currency named "rand."
  • From 1982, the value of the currency started to erode due to mounting international pressure and sanctions against the country because of its apartheid policies. In July 1985, all foreign exchange transactions were suspended for three days to try to stop the devaluation.
  • The currency continued to depreciate due to the uncertainty of apartheid reforms and black majority rule. In 1992, the currency depreciated to the level of R 3 to the dollar; in 1999, to R 6 to the dollar. The September 11, 2001 attacks pushed the currency to its weakest historical level of R 13.84 to the dollar in December 2001. The currency has since stabilized.

History

  • A Commission established in 1956 recommended giving up the British Pound and associated terms pounds, shillings and pence in favor of a new currency named “Rand.”
  • The South African Rand was introduced on February 14, 1961, replacing Round Sterling as legal tender, at two Rand = 1 Pound 10 shillings. 1961 was also the year the country became a republic and left the Commonwealth of Nations following a whites-only referendum.
  • From 1982, the value of the currency started to erode due to mounting international pressure and sanctions against the country because of its apartheid policies. In July 1985, all foreign exchange transactions were suspended for three days to try to stop the devaluation.

More information about ZAR - South African Rand (R)