Afghanistan - Afghan Afghani, Afn

As of March 16th 2015 AFGHANISTAN - AFGHAN AFGHANI, AFN Country: Afghanistan Currency: Afghan Afghani (AFN) Phonetic Spelling: {afghānī} Country Overview Abbreviation: AFN FOREIGN EXCHANGE The Afghani is controlled by the Afghanistan Bank (www.centralbank.gov.af) and Etymology it serves to ensure price stability, a sound financial system conducive to macro- The Afghani is the basic monetary unit of Afghanistan, economic stability and overall economic growth. Additionally it executes all monetary equal to 100 puls (pools). The origin of the name comes policy for Afghanistan and holds the official foreign exchange reserves of Afghanistan. from the Pashto/Farsi word afghānī, which literally translates to ‘from Afghanistan’ or ‘of Afghan origin’ SOVEREIGN DEBT but in this case refers to the national monetary unit/ Afghanistan recorded a Government Debt to GDP of 8% percent of the country’s currency. GDP in 2011. Government debt to GDP averaged 66.07 Percent from 2006 until 2011, Currency History reaching an all time high of 184% in 2006 and a record low of 8% percent in 2011. The Afghani is the official currency of Afghanistan. An Afghani is equivalent to 100 Pul. The 1st Afghani was GROWTH OUTLOOK launched in 1925 and was meant to replace the rupee at a While undergoing substantial political, economic, and social transformation over rate of 1.1 rupee = 1 Afghani. It is still, however, common the past decade, Afghanistan has achieved rapid yet volatile economic growth. The to hear an Afghan use the word rupee when referring to construction and agricultural sectors have been the key contributors to economic the Afghani. expansion, which has averaged around 10 percent over the past five years. There have been noticeable improvements in such areas as health, education, and microfinance, Afghanistan’s currency history was marked with a lack of standardization, forgery, and currency revaluation. but dependence on high levels of foreign aid continues. Before the US invasion in 2001, political parties, warlords, forgers, and foreign powers came up with their INFLATION own tradable banknotes, with no system or standard Afghanistan’s reported inflation rate for 2013 was 7.65. Inflation forecasts have been for traders to adhere to. When the Taliban seized reduced by 0.6 percentage points for 2014 and half a point for 2015 due to slower than government control in 1996, the Taliban’s central bank anticipated economic growth and a continued decline in real estate prices. declared most Afghan bank notes worthless. GOVERNMENT The Northern Alliance, however, continued to have notes The Afghani government consists of the council of ministers, provincial governors printed in Russia. These were then sold in the Kabul and the national assembly, with a president serving as the head of state and marketplace at 50% off their value. By this time the Afghani’s value depreciated sharply and by 2001, 1 USD commander-in-chief of the Afghan Armed Forces. In the last decade the politics = 73,000 Afghani. of Afghanistan have been influenced by NATO countries, particularly the United States, in an effort to stabilize and democratize the country. In 2004, the nation’s After the U.S. Invasion and the toppling of the Taliban new constitution was adopted and an executive president was elected. The 2014 government, a new currency or Afghani was launched presidential election was held in April 2014, followed by a run-off in June 2014. The in 2002. Coins were issued in 2005 at denominations results of both ballots were challenged by the losing candidate Abdullah Abdullah, of 1, 2, 5 Afghani. Bank notes were issued in 2002 who claimed the results were manipulated to ensure his opponent Ashraf Ghani was in these denominations: 1, 2, 5, 10, 20, 50, 100, 500 declared the winner. The results of the election remained in dispute through until and 1000 Afghani. In 2005, the 1, 2 and 5 notes were September 2014, despite a proposal by the United States that the candidates agree to swapped with coins. a power-sharing deal, which was initially agreed upon. FINANCIAL SECTOR Afghanistan’s total GDP for 2013 was 20.32 billion USD. GDP growth in 2015 is now expected to be 0.7 percentage points less than the Asian Development Forecast, however it still represents a significant improvement. The assumptions are based on the formation of a unity government created in September, which aims to restore security and spark the country’s medium-term transition plan, which is supported by large security grants pledged at the May 2012 NATO summit and by substantial economic development assistance pledged at the July 2012 conference of development partners in Tokyo. The economy still lacks the overall institutional capacity to enhance productivity and promote self-sustaining growth. Although some progress has been made in developing the private sector, it remains small and informal, and there is little impetus for more vibrant entrepreneurial activity. Political uncertainty and security challenges undermine the rule of law and continue to be formidable. [email protected] Full disclaimer: This Executive Summary is the property of Dartmouth Capital, LLC d.b.a. SafeDinar.com and is therefore the intellec- tual property of Dartmouth Capital, LLC d.b.a. SafeDinar.com. All rights reserved. This report and publications discussed are intended 877 723 3391 solely for information purposes and are not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy or sell or trade in any commodities, securities, or currencies herein named. Information is obtained from sources be- lieved to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions www.safedinar.com are attempted. In no event should the content of this report be construed as an express or implied promise, guarantee or implication by or from Dartmouth Capital, LLC dba SafeDinar.com or any of its officers, directors, employees, affiliates or other agents that you will © 2015 Safe Dinar profit or that losses can or will be limited in any manner whatsoever. Please view our terms of use for full disclosure. .

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