As of October 30th, 2023, 1 Afghan Afghani is worth 1.14 Indian Rupees.
In a surprising turn of events, the currency used in Taliban-controlled Afghanistan, the Afghani, has outperformed the US dollar this quarter. It has become the best-performing currency in the world.
Over the past three months, the Afghani has strengthened by 9% against the US dollar, making it the top-performing currency since July 1. This impressive performance is largely attributed to the strict economic measures imposed by the Taliban, which have restricted the use of the US dollar and
Pakistani rupee by the local population. Additionally, online currency trading has been prohibited in an effort to support the Afghani.
Despite these notable currency gains, it’s important to note that Afghanistan’s overall economic situation has faced significant challenges since the Taliban’s resurgence in 2021. Nevertheless, the Afghani’s
remarkable performance in the third quarter of 2023 has made it one of the strongest currencies in the world this year, trailing only behind the Colombian peso and the Sri Lankan rupee according to Bloomberg.