Currency of Afghanistan is called Afghani (A.F.A.). Every unit of Afghan currency is made of 100 puls. Notes denominations are AFN 1000, 500, 100, 50, 20, 10, 5, 2 and 1. US Dollar is widely accepted in the country.
Afghanistan Money
28/09/2019
ATMs/Credit-Debit Cards/Traveller's Cheques
Number of ATMs in all Afghanistan can be counted on fingers, and those too are not reliable. Credit-Debit cards are not generally accepted.
Traveller's Cheques take long time to clear. Travellers are counseled to carry sufficient funds in US Dollar.
Fall and Stabilisation of Afghan Currency
In 1981, official rate of exchange had been fixed at 50Afghanis per every US Dollar. However, political unstability has caused dramatic fluctuation in Afghan currency.
In 1994 it slipped to 2400 Afghanis on US $1. As result purchasing power of the Afghans has considerably decreased.
They grew poor and more poor. In 2001, under the Taliban, the exchange rate of the Afghani was 73,000 every US$1. However, after fall of the Taliban, it improved to 23,000 US$1.
Banks and Stock Market
Central Bank of Afghanistan, the largest bank in Afghanistan, was founded in 1938.
It had the responsibility of issuing bank notes, executing government loans, and lending money to other banks. Government of Afghanistan nationalised all private banks in 1975.
However continuous strife has led to most banks stopping their work. Stock market and other modern forms of economic progress haven't developed in Afghanistan.
The new government in Afghanistan to trying to bring economy back on track in the war-ravaged country.