The Intriguing Value Of A Dollar In Afghanistan

As of May 10, 2024, 1 US dollar is worth around 72.2 Afghan afghani (AFN). The afghani is the official currency of Afghanistan and has been since the 1920s. The exchange rate has fluctuated over the years, with 1 dollar equalling 88.85 AFN in May 2023 and 68.72 AFN in November 2023.

Exchange rate as of May 2024

As of May 2024, the exchange rate for the US dollar to the Afghan afghani is approximately 1 USD to 72-73 AFN. This rate is subject to frequent change, given the extreme volatility in global currencies.

On May 10, 2024, 1 USD was worth 72.194597 AFN. This rate is slightly lower than the rate on February 17, 2024, when 1 USD was worth 73 AFN.

The highest recent value of the AFN against the USD was on May 11, 2023, when 1 USD was worth 88.8452 AFN. The lowest recent value of the AFN against the USD was on November 18, 2023, when 1 USD was worth 68.7214 AFN.

The currency code for the US dollar is USD, and the currency symbol is $. The currency code for the Afghan afghani is AFN, and the currency symbol is ؋.

Exchange rate as of November 2023

As of November 2023, 1 US dollar is worth around 70 Afghan Afghanis. The official currency of Afghanistan, Afghanis are nominally subdivided into 100 puls, though there are no pul coins in circulation. The currency is managed solely by Afghanistan's central bank, Da Afghanistan Bank (DAB).

The Afghani was introduced in 1923, replacing the Afghan rupee that had been used since 1891. It is still informally referred to as a rupee by some in conversation and transactions. The exchange rate of the Afghani has been freely determined by market forces except during World War I. For some periods, a dual exchange rate regime existed in Afghanistan: an official exchange rate fixed by the major banks in the country, and a free-market exchange rate determined by supply and demand forces in Kabul's money bazaar, Saraye Shahzada.

The Afghani has experienced significant fluctuations in value over the years due to political and economic instability. After the start of a civil war in 1992, the currency was devalued, and different factions printed their own banknotes with no regard for standardization. In 2002, the Afghani was redenominated, receiving a new ISO 4217 code, AFN, to stabilize the economy and curb rapid inflation. This new currency was well-received by the public as a sign of security and stability.

In the third quarter of 2023, the Afghani was the best-performing currency in the world, climbing over 9% against the US dollar. However, after the 2021 re-establishment of the Islamic Emirate of Afghanistan, the nation's foreign assets were frozen, and the value of the Afghani fell.

Historical exchange rates

As of April 2, 2024, the exchange rate of 1 US dollar to Afghan afghani was 71.1788, a decrease of -17.9553% (or -15.5773 AFN) compared to the same time last year (April 2, 2023) when 1 US dollar equalled 86.7561 Afghan afghani.

On February 4, 2021, 1 US dollar was worth 77.72 Afghan afghani. A year later, on February 4, 2022, the exchange rate had increased to 1 US dollar being worth 86.24 Afghan afghani.

On March 5, 2021, the exchange rate was 1 US dollar to 77.45 Afghan afghani. A year later, on March 5, 2022, the rate had increased to 1 US dollar to 85.92 Afghan afghani.

The exchange rate of the US dollar against the Afghan afghani has fluctuated over time, with the value of the US dollar generally decreasing when compared to the same dates in previous years.

Afghanistan's official currency

The exchange rate for the afghani is around 70-73 afghanis to one United States dollar (as of February to May 2024). This rate has fluctuated over time, from a high of 88.8452 afghanis to the dollar in May 2023, to a low of 68.7214 afghanis to the dollar in November 2023.

The original afghani (ISO 4217 code: AFA) was in use from 1923 until 2002, when it was redenominated and received a new ISO code, AFN. This change was made to stabilise the economy and curb inflation. The new afghani replaced the previous currency at two distinct rates: issues of the government of former President Rabbani were replaced at a rate of 1,000 to the new afghani, while issues of Dostum were replaced at a rate of 2,000 to the new afghani.

The afghani is the official currency of Afghanistan, but other currencies, such as the US dollar, are also used in the country.

Afghan Afghani currency code and symbol

The currency code for the Afghan Afghani is AFN, and the currency symbol is ؋. The Afghani is the official currency of Afghanistan and has been since the 1920s. It is subdivided into 100 puls (although there are no pul coins in circulation), and its exchange rate is around 70 Afghanis to 1 US dollar.

The original Afghani (ISO 4217 code: AFA) was introduced in 1923, replacing the Afghan rupee. In 1925, brass and bronze coins were introduced in denominations of 2, 5, and 10 pul. In 1930, bronze 1 and 25 pul coins were introduced, followed by bronze 3 pul and cupronickel 10 and 20 pul coins in 1937. In 1952, the 25 pul coin was changed to aluminium, and the 50 pul coin to nickel-clad-steel.

In 2002, the Afghani was redenominated and received a new ISO 4217 code, AFN. This was an attempt to stabilize the economy and stop rapid inflation. The new currency was announced by President Karzai on September 4, 2002, and was introduced to the market on October 8, 2002. It replaced the previous Afghani at two distinct rates: issues of the former President were replaced at a rate of 1,000 to the new Afghani, while issues of Abdul Rashid Dostum were replaced at a rate of 2,000 to the new Afghani.

The AFN is managed by Afghanistan's central bank, Da Afghanistan Bank (DAB), which aims to minimize the risk of inflation while maintaining a floating exchange rate regime.

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