After the establishment of Da Afghanistan Bank as the Central Bank of Afghanistan, such a preferential official fixed exchange rate continued to be practiced. Although Da Afghanistan Bank tried to keep its official rate close to the Saraye Shahzada's exchange rate, the gap between the official and free-market exchange rates widened in the 1980s and during the civil war.  Except during World War I Afghanistan's foreign exchange rate has been freely determined by market forces.^[3] However, for some periods, a dual exchange rate regime existed in Afghanistan: an offiwas determined by the supply and demand forces in Kabul's money bazaar called Saraye Shahzada.^[4] For example, in order to avoid the seasonal fluctuations in the exchange rate, a fixed exchange rate was adopted in 1935 by the Bank-e Milli, which was then responsible for the country's exchange rate system and official reserves. Bank-e Milli agreed to exchange afghanis at 4 Afs against 1 Indian rupee in 1935.  Prior to the U.S. invasion of Afghanistan, warlords, political parties, foreign powers and forgers each made their own Afghani banknotes, with no regard to standardization or honoring serial numbers.

Since 2002, Da Afghanistan Bank has adopted a floating exchange rate regime and has let the exchange rate to be determined freely by market forces. Today the Afghani is among some of the popular collectible foreign currencies because of it's intricate artwork, and stable, even if pessimistic economy.