Dinar vs Afghani

[the_hulk]

I remember right after the invasion of Afghanistan how they were selling Afghan currency (the afghani) in the street so dirt cheap you would buy stacks of bills by thickness!! Anyway I had wanted to buy some then but never did, but I believe (and may be wrong) that since that time the afghani has increased in value about 8500% (sure wish I did buy them). Your comments as to how this compares with the potential of the Dinar, considering Iraq probably has a lot more going for it than Afghanistan.

[highrollr19]

I thought about that investment as well... and hindsight being 20/20 as it always is... I wish I had done it. My reasoning at the time for not was that I the two countries I was considering investing in were Afghanistan and Iraq. I figured that Iraq had the best opportunity of appreciating considering the natural wealth they possesed compared to the wasteland that is Afghanistan. Wish I had!

[kelleyB]

I didn't even hear about it. But dang 8500%? WOW, so since I am lazy and don't want to do the math, what would that mean in terms of the Dinar at that Percentage?

[Psycho for Dinar]

Checkin' out Afganistan was the ice breaker for me to get into the Dinar. Yahoo finance shows that in the last week of December to the first week of January 2003 the Afgan currency went from 5000:1 down to 40:1! A country filled with rocks, poppie fields, al-queda, and the Talaban. I figured if the rate could turn so favorably for a country like that, Iraq has REAL potential for major league profit!

[Psycho for Dinar]

I didn't even hear about it. But dang 8500%? WOW, so since I am lazy and don't want to do the math, what would that mean in terms of the Dinar at that Percentage?

If they were to adjust at the same proportion that would make the dinar opening at roughly 1 USD/ 11.7 IQD. You have to figure though that Iraq has oil instead of poppie. Oil revenues could be as much as 36 billion per year as compared to a total GNP of 5 billion for Afganistan (out of which 2 billion is heroin). Quite the difference! The big thing is how much of this enormous debt is going to be forgiven. Lets all hope for a BIG percentage!!!

[kelleyB]

HOLLY COW!.. I so would have a heart attack if it got that high right away. I think I would go into fits of hysterical laughter then uncontrolable crying then major shaking, then passing out. Nah... I would just pass out :drunk: DRUNK !!! From parting so dang much YAHOO!

[Dinars2Dollars]

Did they change currency and covert like a stock split giving 1 new Afghani for every 125 old Afghani's?, or was this pure appreciation in currency value? Anyone know the history of this currency around that time period? If the same thing happens to Iraqi currency then it opens at 1 Dinar = $0.0856 (8.56 cents)

[highrollr19]

I haven't looked into it in some time... but I will in the morning. I just remember people selling it by weight! THey were just trying to get rid of it!

[highrollr19]

So... a note to myself for the future is to look into investing in the currency of the next country the USA invades!!! There seems to be a nice appreciation correlation: Germany, Japan, Afghanistan, and now hopefully Iraq!!!! We destroy them... and then we give them all our money so they can get back on their feet!

Note to self!!! :huge:

[Jamel]

I am in afghanistan, and they don't have anything here but hash and opium. Their currency is still dirt cheap. So, for their currency to rise like that, I think that the dinar should do very well considering iraq has Oil and alot of other exports.

[shellie01]

I am in afghanistan, and they don't have anything here but hash and opium. Their currency is still dirt cheap. So, for their currency to rise like that, I think that the dinar should do very well considering iraq has Oil and alot of other exports.

So does that mean it didn't go to 40:1? I've went an confused myself again. :confused:

[kelleyB]

Yeah Shellie i am lost too. Dirt Cheap? hmmm

[the_hulk]

I'm relying totally on data from financial calculators like the one on Yahoo. I'm not in Afghanistan and don't pretend to be an expert or know what's going on over there, but I also would like to know what "dirt cheap" means.

[Psycho for Dinar]

Conversion rate hot off the presses......................


xe.com Universal Currency Converter ® Results
Live mid-market rates as of 2004.08.26 04:01:11 GMT.
1.00 USD
United States Dollars = 43.0003 AFA
Afghanistan Afghanis
1 USD = 43.0003 AFA 1 AFA = 0.0232556 USD

[the_hulk]

ok so there was a dramatic increase then!!

[CramptonMotorsports]

I am in afghanistan, and they don't have anything here but hash and opium.

throw in cheap hookers and I'm there!

oh wait Amsterdam's got it covered.

:lmao:

[kelleyB]

Too funny. Hell .. wait nevermind they aren't cheap here... well not in the monetary sense. :lmao:

[kap76bd]

Does anyone know where i would be able to cash in afghani's i have about $150,000 Afghanis. Thanks for any help in this matter!

Kyle

[kelleyB]

ah no, but if you give them to me I am sure I can find somewhere for ya. ;)

[kap76bd]

Really that would be nice, lol. :lmao:

[PennStateMtnMan]

Did they change currency and covert like a stock split giving 1 new Afghani for every 125 old Afghani's?, or was this pure appreciation in currency value? Anyone know the history of this currency around that time period? If the same thing happens to Iraqi currency then it opens at 1 Dinar = $0.0856 (8.56 cents)


Hey nice Avatar!!!!! Go Steelers. Anyhow, I have just been playing around with the calculator. My wife just said "If we become rich, are you going to buy me that $3,000 bracelet." I said sure, and if you let me buy my corvette, my house, Steeler season tickets, I will even buy you a set of fake boobs!!!! She said "sure, I knew you were buying these dinars for only one reason and that is the BOOBS." Now she keeps saying, "It is all about the boobs, I see how you are."

Gentlemen (and ladies), I need a little help here. Get me out of this one. :)

[Blake]

It's always about the boobs.

[kelleyB]

Gentlemen (and ladies), I need a little help here. Get me out of this one. :)
Tell her "No baby, it is about getting you all that you want and more, like that bracelet"... "It is for us and for me to spoil you with it, and a little for me" wink and give her a kiss. ;)

[Jamel]

The money here is cheap. Yes, it did make a dramatic increase to 40:1. Stuff here compared to the dollar is cheap. This country is coming back stronger and their currency will get better as they weed out al qaeda and the taliban. It is still crazy here, but not as crazy as Iraq though.

[wing]

IIRC, there was a currency change with some 150 old afghanis or thereabouts(don't quote me on this) being exchanged for 1 new afghani. So, the currency appreciation rate being quoted in this thread is not really accurate.

[minigirl]

It's always about the boobs.

hmm so it would seem. :rolleye03 guys talk to mine all the time. lol it's like 'hellooooo I'm up here! :wave: '

[Jeffrey]

Hey nice Avatar!!!!! Go Steelers. Anyhow, I have just been playing around with the calculator. My wife just said "If we become rich, are you going to buy me that $3,000 bracelet." I said sure, and if you let me buy my corvette, my house, Steeler season tickets, I will even buy you a set of fake boobs!!!! She said "sure, I knew you were buying these dinars for only one reason and that is the BOOBS." Now she keeps saying, "It is all about the boobs, I see how you are."

Gentlemen (and ladies), I need a little help here. Get me out of this one. :)


You gotta spend $30,000 on the bracelet, and throw in a nice ring with it too! THEN and only then get the Vet and the season tickets......with all the bling bling she'll be slinging.....you might just come home from your box seats and find that the boobs are just "there" all of a sudden! :happy64:

[shellie01]

Tell her you'll just get her one boob to start with and if she likes it, she can decide to get the other. :D

[toemaas]

IIRC, there was a currency change with some 150 old afghanis or thereabouts(don't quote me on this) being exchanged for 1 new afghani. So, the currency appreciation rate being quoted in this thread is not really accurate.

I think you got the afghani confused with the New IQD. When the Iraq central bank distributed their "New" curency, it was exchanged 1 New for 1 Old "Saddam" Dinar, except in the Kurdish north where they used the "Swiss" Dinar, which was worth more than the Saddam Dinar, it was exchanged 150 New Dinar for 1 Swiss Dinar.

I think that's right :wave:

[RogerL]

http://finance.yahoo.com/currency/convert?from=USD&to=AFA&amt=1&t=2y

Note how the rate changes from 5000:1 to 43:1 in th chart From the looks of that chart, the appreciation may not be appreciation after all. Looks like a few zeros were chopped off in re-valuating the currency since the change was practically overnight.

[Y NOT]

I remember right after the invasion of Afghanistan how they were selling Afghan currency (the afghani) in the street so dirt cheap you would buy stacks of bills by thickness!! Anyway I had wanted to buy some then but never did, but I believe (and may be wrong) that since that time the afghani has increased in value about 8500% (sure wish I did buy them). Your comments as to how this compares with the potential of the Dinar, considering Iraq probably has a lot more going for it than Afghanistan.
Totally different ball game
Afg. Was printed in 1, 5,10,20,50 and 100 denominations…..

[Psycho for Dinar]

When in doubt, check it out. Here's a link for Afghanistans currency/economy....


http://www.afghanistans.com/Information/Economy/CurrencyBanking.htm

[Y NOT]

When in doubt, check it out. Here's a link for Afghanistans currency/economy....


http://www.afghanistans.com/Information/Economy/CurrencyBanking.htm
I did long ago. How do you think I knew denominations!!!
What I’m saying is Iraq has Oil… Afghan has Opium.
Afghan has Ben Laden ..Iraq has Sadder

[Psycho for Dinar]

I did long ago. How do you think I knew denominations!!!
What I’m saying is Iraq has Oil… Afghan has Opium.
Afghan has Ben Laden ..Iraq has Sadder


I agree with ya, there is a big difference in determining what the opening rate will be when you compare oil to opium. At least I hope! Now if Afghanistan went to 43:1, whats your opinion on what Iraq will open at?

[kelleyB]

Tell her you'll just get her one boob to start with and if she likes it, she can decide to get the other. :D
Oh my Goodness tjat is too funny:lmao:

[kelleyB]

except in the Kurdish north where they used the "Swiss" Dinar, which was worth more than the Saddam Dinar, it was exchanged 150 New Dinar for 1 Swiss Dinar.
Ok, so if the money was worth more up north, how screwed are they if the NID comes out at like .10 or something really low. Seems to me they took the biggest loss of all.

[kelleyB]

http://www.oanda.com/converter/classic?lang=en&date=01%2F01%2F03&value=1&date_fmt=us&margin_fixed=0&expr=USD&exch=AFA&submit1=Convert%20Now%21

This takes you straight there. Click next and see Jan 2. OOOOh gettin excited. Maybe that is when we change our money too. The first of the year. What a way to finish that never finish News years resolution. ;)

[toemaas]

Ok, so if the money was worth more up north, how screwed are they if the NID comes out at like .10 or something really low. Seems to me they took the biggest loss of all.

This might help...
For every 1 Dinar that the Kurds turned in, they received 150 of the new IQD :D

[danpeg]

I think we should keep OT discussion to the lounge... please. Let's keep the other forums focused on the business at hand.

Thanks!

Dan

[Hollywood]

How long did it take the kuwati dinar to recover. Anyone have a link to this info.

[ROB5891]

if one did by afghani back at that ridiculously cheap price and waited for it to increase in value, can one go into a bank like hsbc or wells fargo and exchange it for dollars right now?

[Kuna]

I think the exchange rate of the new Afghani for the old money was worse than some of the figures we've been quoting. Here is an article I found:

http://www.irinnews.org/report.asp?ReportID=31242&SelectRegion=Central_Asia&SelectCountry=AFGHANISTAN

According to this article a person needed to exchange 1,000 old afghanis for 1 new afghani. This is a huge difference since I believe our Iraqi dinar exchanges were made on a one for one basis (except for the Kurdish North).

[RogerL]

I think the exchange rate of the new Afghani for the old money was worse than some of the figures we've been quoting. Here is an article I found:

http://www.irinnews.org/report.asp?ReportID=31242&SelectRegion=Central_Asia&SelectCountry=AFGHANISTAN

According to this article a person needed to exchange 1,000 old afghanis for 1 new afghani. This is a huge difference since I believe our Iraqi dinar exchanges were made on a one for one basis (except for the Kurdish North). If that's the case, then 5,000 old Afghanis would be 50 new Afghanis. That means the appreciation is from 50 to 43, only an appreciation of 16%. They essentially chopped two zeros off of their currency. :) Thanks.

[ROB5891]

is the afghani exchangable in any major banks???

[ROB5891]

does anyone have the answer to that question?

[Blake]

You know you can call some banks who deal with foreign currencies yourself and find out. We're not that motivated seeing how none of us have afghani's.

[Dinar Bull]

The question is relevant, however. As it is an obscure kind of currency .like the dinar. and a bank trading afgani would be a good lead to a bank that may trade dinar in future.
Wouldn,t you think?

[Blake]

Well, tell me what you find when you call then. ;)

[ROB5891]

well i think it's a very good question. Is the afghani availabable to exchange? blake, go find out for me. don't let me down

[Blake]

well i think it's a very good question. Is the afghani availabable to exchange? blake, go find out for me. don't let me downIs your phone broke? Imagine coming to visit the forum with answers to provide. It's a wonderful feeling. You should try it.



The question is not keeping me up at night.

[ROB5891]

go do your duty blake and find out. take a hit for the team and yeah my phone is a little impaired so i'll let you fix it.

[CAP]

Did I just hear Mel Brooks call for the "piss boy?"

It's good to be king......PULL!!!! :lmao: :lmao:

I love that movie..................

[Jared]

is the afghani exchangable in any major banks???

Yes. Any bank on the World Bank backbone can exchange it for you. Wells Fargo, US Bank, Wachovia, etc, can all do it.

There are also smaller banks that will do this that are in or around major airports as this is usually a first stop for a foreign traveler.

If you have an account with an investment firm (Schwab, etc) they can do it for you or even open up a FOREX account.

Just like exchanging the dinar, anything over $10K US in value will be reported and you will have to claim it for tax purposes. If it is a large sum, like 500,000+ Afghani's you will need to contact the bank before you go over to see them. Banks get alarmed when someone comes in with suitcases full of currency! :D

Jared :wave:

[ROB5891]

thanks jared. i wish i had thought of investing in the afghani back in 2001.