The American Empire in a Changing World


Tuesday, December 4, 2012

''Do You Know the History of the Afghani Currency?''

From News Central Asia

''The history of a country is more often than not represented also by the many twists and turns that its national currency must endure, as well.  When the country is also racked by decades of turmoil, economic strife, and foreign occupations, the stories become entwined even deeper still.  Afghanistan is one nation where this correlation has been more pronounced, but, hopefully, there are positive signs of stability, if the past few years can be used as a guide for future prospects.

The Afghani (International Code “AFN”) is the national currency unit of Afghanistan, and although its origins reach back to 1925, its current version replaced the former issuance during the crossover period from 2002 to 2003.  The currency now floats on the global foreign exchange (“Forex”) market and has a current valuation of 52.4 Afghanis to the U.S. Dollar.  Since the “redenomination” of the Afghani took place, the exchange rate has fluctuated within a range of the current value and 42.0, a dramatic improvement over previous performance when hyper-devaluation prevailed.''

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