Input the right amount to convert your NGN to AFN
NGN to AFN Comparison Table
| Feature | NGN (Nigerian Naira) | AFN (Afghan Afghani) |
|---|---|---|
| Currency Code | NGN | AFN |
| Symbol | ₦ | ؋ |
| Issuing Authority | Central Bank of Nigeria | Da Afghanistan Bank |
| Economic Strength | Developing, resource-rich economy | Developing, war-torn economy |
| Exchange Rate Volatility | High | Extremely volatile |
| Popular Use Cases | Domestic transactions, remittances | Domestic transactions, limited trade |
| Digital Payment Adoption | Growing adoption, mobile money prominent | Limited digital payment infrastructure |
| Inflation Rate | Historically high | High inflation |
| Interest Rates | High | N/A (due to economic instability) |
| Foreign Exchange Reserves | Moderate | Low |
| Foreign Direct Investment (FDI) | Increasing, resource-focused | Limited |
Key Observations:
- Both Nigeria and Afghanistan are developing economies facing significant economic challenges.
- Both currencies experience high volatility. Check Afghanistan currency to naira and economic indicators
- Both countries have limited digital payment infrastructure, but Nigeria is more advanced.
- Both countries face challenges with inflation, but Afghanistan’s situation is more severe.
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to KES NGN to LYD NGN to MAD NGN to MGA | NGN to CNY NGN to HKD NGN to IDR NGN to ILS |
| European Currencies | South America Currencies |
| NGN to CHF NGN to CZK NGN to DKK NGN to EUR | NGN to ARS NGN to BOB NGN to BRL NGN to CLP |
Facts about the Afghani
| Fact and Explanation |
|---|
| Currency Code: AFN The international standard code for the Afghani is AFN. This code is used for financial transactions and identification purposes worldwide. |
| Subunit: Pul The Afghani is divided into 100 puls. While it’s the official subunit, the pul is rarely used in practical transactions due to inflation and economic conditions. |
| Issuing Authority: Da Afghanistan Bank The central bank of Afghanistan, Da Afghanistan Bank, is responsible for issuing and regulating the Afghani. It plays a crucial role in maintaining monetary stability. |
| Economic Challenges: Fluctuations – The Afghani has faced significant challenges due to the country’s political instability and economic conditions. This has led to fluctuations in its value and limited its use in international trade. |
| Cash-Based Economy: Reliance on Physical Currency – Afghanistan has a predominantly cash-based economy, with a limited banking system and low financial inclusion. This reliance on physical currency has implications for economic development. |
| Counterfeiting Issues: Security Concerns – Counterfeiting of the Afghani has been a persistent problem, affecting the economy and public trust in the currency. Efforts to improve security features have been implemented. |
| Humanitarian Aid and Currency: Interconnectedness – The Afghani’s value and stability are closely linked to humanitarian aid and international support. Fluctuations in aid can impact the currency’s exchange rate and overall economic conditions. |
Top Banks in Nigeria and Afghanistan to Convert Naira to Afghani
| Country | Bank Name | City |
|---|---|---|
| Nigeria | Access Bank Plc | Lagos |
| Nigeria | United Bank for Africa (UBA) | Lagos |
| Nigeria | Zenith Bank Plc | Lagos |
| Afghanistan | Afghanistan International Bank (AIB) | Kabul |
| Afghanistan | Kabul Bank | Kabul |
| Afghanistan | Azizi Bank | Kabul |
Key Observations:
- Both Nigeria and Afghanistan are developing economies facing significant economic challenges.
- Both currencies experience high volatility. Check Afghanistan currency to naira and economic indicators
- Both countries have limited digital payment infrastructure, but Nigeria is more advanced.
- Both countries face challenges with inflation, but Afghanistan’s situation is more severe.