How to use custom font in a project written in Android Studio

I was trying to use custom font in Android Studio as we did in Eclipse. But unfortunately could not figure out where to put the 'assets' folder!

Update 2021:

Create a folder named font inside the res folder and copy your font

All font names must be only: lowercase a-z, 0-9, or underscore.

<TextView
        android:layout_width="match_parent"
        android:layout_height="wrap_content"
        android:fontFamily="@font/abc_font" />

For programmatic use:

textView.setTypeface(ResourcesCompat.getFont(context, R.font.abc_font))

For Android Studio 4.2+ there's even now a menu option:

1. Select File>New>Folder>Assets Folder

2. Click finish

3. Right click on assets and create a folder called fonts

4. Put your font file in assets > fonts

5. Use code below to change your textView's font

   TextView textView = (TextView) findViewById(R.id.textView);
   Typeface typeface = Typeface.createFromAsset(getAssets(), "fonts/yourfont.ttf");
   textView.setTypeface(typeface);
   

There are many ways to set custom font family on field and I am using like that below.

To add fonts as resources, perform the following steps in the Android Studio:

1) Right-click the res folder and go to New > Android resource directory. The New Resource Directory window appears.

2) In the Resource type list, select font, and then click OK.

Note: The name of the resource directory must be font.

3) Add your font files in the font folder.

Add font in desired view in your xml file:

Note: But you required the following things for that:

1. Android Studio above to 3.0 canary.

2. Your Activity extends AppCompatActivity.

3. Update your Gradle file like that:

    compileSdkVersion 26
    buildToolsVersion "26.0.1"
    defaultConfig {        
        minSdkVersion 19
        targetSdkVersion 26
        versionCode 1
        versionName "1.0"
        testInstrumentationRunner "android.support.test.runner.AndroidJUnitRunner"
    }

buildtoolsVersion above to 26 and minimum targetSdkVersion required 26

4. Add dependencies in build.gradle file:

classpath 'com.android.tools.build:gradle:3.0.0-beta4'

5. gradle-wrapper.properties:

distributionUrl=https\://services.gradle.org/distributions/gradle-4.1-all.zip