5 Afghanis

Afghanistan's 1926 Treasury notes predate the establishment of Da Afghanistan Bank by nearly three decades — the central bank wasn't founded until 1939, leaving the Ministry of Finance as the sole issuing authority during this period. The P#7 5 Afghani note falls within the reign of Amanullah Khan, whose modernization program included replacing the older rupee-denominated system with the afghani in 1925, a currency reform tied directly to Afghan assertions of full independence following the Anglo-Afghan Treaty of 1919.

Surviving examples are genuinely scarce. Afghanistan's economic infrastructure at the time meant distribution was uneven, and storage conditions in the region were rarely kind to paper.