Exchange Rate Now!

There is little activity in the exchange rate/forex market between AFN/ALL – Afghanistan Afghanis/Albania Leke. Therefore, you might not get an accurate and real-time figure of the actual exchange rate online.

How such low volume currencies are usually calculated might be used through the usage of a 3rd party currency, like the US Dollar or the Japanese Yen. Mathematically, the underlying formula for the AFN/ALL exchange rate equates to (AFN/USD)/(ALL/USD). Practically, it is also difficult for you to exchange either of the currencies (AFN – Afghanistan Afghanis/ALL – Albania Leke) near the actual currency bid-ask spread. Expect high commissions from exchange rate traders as well as equally volatile quotations. It is advisable for you to first trade against a major and globally. And by the way, if you are really looking to exchange/trade such a currency pair, you could really be a handful of people who travel to/from either countries.

After the US invasion of Afghanistan, Afghanistan still maintains excellent relations with allies, including Uzbekistan, Tajikistan and Turkmenistan – as all three share a similar culture as the Afghans. US dollar is loosely accepted in Afghanistan and you might want to consider using changing your ALL into USD if you want to go to Afghanistan and vice versa.

The RMB exchange rate seldom fluctuates against the US Dollar, which indirectly implies that the Chinese government tightly controls the value of the Chinese Yuan (also known as the Renmimbi, RMB). Therefore, there is no good time to really aim for the best exchange rate for RMB, with the RMB oscillating around a narrow band against the US Dollar. RMB/USD exchange rate hardly seems exciting for forex traders – this despite the very fact that in 2005, the RMB-to-US-dollar pegging system is being switched to a basket of foreign currencies rather than against just the US Dollar. 

With Chinese exports still steadily increasing despite concerns over quality, there is a fear that the Chinese Central Bank will continue to devalue the Renminbi to further drive Chinese exports. This possiblity cannot be ruled out, even through further depreciation of the Chinese Yuan/RMB is likely to be a series of minute downward adjustments.

At present, the global economy has just started resuming a growth trend after experiencing the worst financial crisis of the century. The prospects for a total revival still remains unclear, as uncertainties over the global financial markets have increased (more…)