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ARA

ISO 4217 code for the first Afghan afghani. It was introduced in 1925 and was initially pegged to silver. In 1949, the peg shifted to the U.S. dollar, which was maintained at various levels (except from 1979 to 1982) until 1992. Different factions within Afghanistan issued their own afghani notes. The first afghani was replaced by the second afghani (code AFN) after the American-led invasion of Afghanistan.

ARA

See Accredited Rural Appraiser.
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