Exchange GBP to AFN - Convert Pound to Afghan Afghani - Free Online Quote

GBP to AFN Exchange Rate

Currency Information on Afghani - AFN- Afghanistan Afghani - ؋ The foreign exchange currency code for AFN represents the Afghani exchange rate for free online quote.

When carrying foreign currency into the country it is important to note that all purchases will have to be made using the local currency denominations as required by the central bank legislation. In this case, the foreign currency will have to be exchanged for an equal value in terms of the local currency

Substitute currencies. 

It was possible to make transactions using the US dollar and Pakistani rupees which are no longer the case due to new regulations. The two currencies were more stable as the local currency printing was unregulated

Restrictions

It is illegal to transport more than one million of the Afghan currency out of the country using any means via land or air and amounts over half a million and below one million of the local currency must be declared to the relevant authorities.

Issues

Only certain ATMs have US dollars and are located within the military camps. With card based transactions not being accepted in most places. Traveler's cheques are not also widely accepted and if accepted may take up to two weeks to be processed

Main country banks

The following banks operate within the country within eight AM to twelve PM and from one PM to four thirty PM on Saturdays to Wednesdays and from eight AM to one thirty PM on Thursdays 

- Afghan United Bank

- Afghanistan International Bank

- Bank-e-Millie Afghan

- Afghanistan Commercial Bank

- Ghazanfar Bank

- Azizi Bank

- First Microfinance Bank-Afghanistan

- New Kabul Bank

- Maiwand Bank

- Pashtany Bank

Economic trend

The real gross domestic product has risen to 1.2 percent according to the word bank figures with the level of inflation has risen from 1.5 to 4.4 percent driven by the effects of currency depreciation and the recovery of global food prices. This is based on the fact that the country is heavily dependent on inputs thereby being strongly influenced by the global food prices and currency fluctuations. Domestic revenue collection has also increased by 15 percent thereby surpassing the target by five percent. The trade deficit has also improved from -36.7 percent in 2015 t0 -35 percent in 2016 with the trade deficit is mainly financed by foreign aid.

 

Convert Pound to Afghan Afghani

AFN is the ISO for the new Afghani, which was introduced in 2003, after unregulated and unrestrained printing of bank notes populated Afghanistan to have a circulation of over 15 trillion Afghani.

It was during this time that Anwar Ul-Haq Ahadi, the Afghan central Bank governor, decreed that all prices would be displayed in Afghani and all item should be purchased using Afghani, where US Dollars and Pakistani Rupees had been accepted prior. Since the introduction of the new Afghani, exchange rates have remained steady in growth and administrative measures, introduced with the aim of encouraging the use of the new Afghani have assisted with this.

This has also meant that the population of Afghanistan have more willingly begun to use their own currency as a means of buying and selling goods. Convert GBP to AFN exchange rate. Buy and sell British Pounds to Afghan Afghanis. Convert AFN to GBP with a currency broker offering the best foreign exchange rates.

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