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Afghan currency


savoy8060
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It didn't RV in 2006 ........... it RV'd in December 2002

 

before that you could get 5,000 - 6,000 AFN for $1 ........... 

 

back in Jan 2006 it was worth between 42 - 49 AFN to $1

 

then it peaked at 51.5 in Apr 2009 and bottomed out at 43 in October 2010, this continued right through till August 2011

 

last week was the worst the currency has performed in a decade 61 AFN / $1 USD

 

right now I think its sitting about 57:1 

 

just think if you spent $5,000 on the AFN back in September 2000 ..... buying you 30,000,000 AFN ..... today that would be worth $526,315.79 today and at its peak (42.99:$1) would have been worth $697,836.70

 

Not a bad return eh.

 

and who says the dinar cant have value ....... Afghanistan is a lot worse off than Iraq.

 

here is a link to a chart ..... LINK

Edited by The Machine
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Thanks Machine, I did not know that about the AFN, And as you say "who says it cant happen to the IQD" You have just given me a boost in my enthusiasm level today about this whole thing, lot's of negative news lately has the tendency to lower ones outlook on this ride.

Thanks bro

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They changed there currency code AFA to AFN with lower denomination notes. The AFA notes are of no value now. Question is did they get 1 AFA to 1 AFN before the new rate went floating up in value? If they did not get 1 to 1 then their RV was at a minumum.

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They changed there currency code AFA to AFN with lower denomination notes. The AFA notes are of no value now. Question is did they get 1 AFA to 1 AFN before the new rate went floating up in value? If they did not get 1 to 1 then their RV was at a minumum.

 

yes all the old notes were declared worthless back in 1996 by their own government.

 

Between October 7, 2002, and January 2, 2003, a new Afghani was introduced with the ISO 4217 code AFN.

 

In April, 2000, the Afghani traded at 6400 AFN per USD. By 2002, the Afghani was valued at 43,000 AFN per USD. By 2009, the Afghani was valued at 45 AFN per USD

 

Notes were replaced at a rate of 1000:1  old for new.

 

I think I got a bit carried away with my earlier post, should have completed the research first before posting.

Edited by The Machine
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yes all the old notes were declared worthless back in 1996 by their own government. 

 

Between October 7, 2002, and January 2, 2003, a new Afghani was introduced with the ISO 4217 code AFN.

 

In April, 2000, the Afghani traded at 6400 AFN per USD. By 2002, the Afghani was valued at 43,000 AFN per USD. By 2009, the Afghani was valued at 45 AFN per USD

 

Notes were replaced at a rate of 1000:1  old for new.

 

I think I got a bit carried away with my earlier post, should have completed the research first before posting.

 

Machine you were right the first post, but I had to question when I found that Afghan had an Old currency code and a New currency code. The Afghani AFN currency shows up starting in May 1995 for exchange.

 

If you had spent 5,000.00 USD on Afghani AFN in Dec 2000 you would have gotten 23,750,000.00 AFN.

In 10 short years you could exchange it back to USD on Oct 2010 and receive $525,791.00 USD for a $520,791.00 profit.

 

This shows that an actual RV has occurred in history. It was not an overnight deal by no means, but it shows that our IQD can make some serious returns for us. Kuwait's currency was maybe the only overnight you got rich if you bought it at .10 scenario in history, but now I have more faith than ever that we will see a big return on what we have in IQD.

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Machine you were right the first post, but I had to question when I found that Afghan had an Old currency code and a New currency code. The Afghani AFN currency shows up starting in May 1995 for exchange.

 

If you had spent 5,000.00 USD on Afghani AFN in Dec 2000 you would have gotten 23,750,000.00 AFN.

In 10 short years you could exchange it back to USD on Oct 2010 and receive $525,791.00 USD for a $520,791.00 profit.

 

This shows that an actual RV has occurred in history. It was not an overnight deal by no means, but it shows that our IQD can make some serious returns for us. Kuwait's currency was maybe the only overnight you got rich if you bought it at .10 scenario in history, but now I have more faith than ever that we will see a big return on what we have in IQD.

 

No it wasnt an RV, the new currency was introduced in 2003. the old notes were exchanged for new ones at a rate of 1000 to 1 ..... basically a lop.

 

since 2003 the AFN has only devalued against the dollar.

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No it wasnt an RV, the new currency was introduced in 2003. the old notes were exchanged for new ones at a rate of 1000 to 1 ..... basically a lop.

 

since 2003 the AFN has only devalued against the dollar.

 

My apologies Machine. I was going by your link to the Currency Converter and using the history function under the AFN code. I was not aware that the AFN currency started with big notes and changed to lower denominations under the AFN code. I assumed it was the change from AFA to AFN for the 1000 to 1 exchange.

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