The Afghan afghani is the official currency of Afghanistan.

It is abbreviated as “AFN” and is used as a medium of exchange in the country.

The afghani has been the official currency of Afghanistan since 1925, with several redenominations occurring throughout its history.

History

The afghani was first introduced in 1925, replacing the Afghan rupee. At the time of its introduction, the afghani was equivalent to 1.5 rupees.

Since its introduction, the currency has undergone several redenominations, with the most recent occurring in 2003, when the currency was redenominated at a rate of 1,000 old afghanis to one new afghani.

Central Bank

The Central Bank of Afghanistan is the main regulatory authority for the afghani.

The bank is responsible for maintaining the stability of the Afghan economy, including the exchange rate of the afghani.

The bank also regulates the commercial banks in the country and provides monetary policy guidance.

Denominations and Subdivisions

The afghani is available in the following denominations: 1, 2, 5, 10, 20, 50, 100, 500, and 1,000 afghanis.

There are also coins available in denominations of 1, 2, and 5 afghanis.

The afghani is further divided into 100 puls.

Economy

Afghanistan is a country located in South Asia.

The country has a population of approximately 38 million people and is one of the poorest countries in the world.

The Afghan economy is largely dependent on agriculture, with opium being a major export crop.

Despite economic challenges, Afghanistan has made progress in recent years, with GDP growth averaging around 2.5% in the past decade.

However, the country still faces significant challenges, including high unemployment, poverty, and security concerns.

Summary

The Afghan afghani is the official currency of Afghanistan and is regulated by the Central Bank of Afghanistan.

The currency has undergone several redenominations throughout its history, with the most recent occurring in 2003.

The afghani is available in denominations of 1, 2, 5, 10, 20, 50, 100, 500, and 1,000 afghanis and is further divided into 100 puls.

Despite progress in recent years, Afghanistan remains a country facing significant economic challenges.