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Afghani dips against the US dollar

in Afghan Business

Afghani dips against the US dollar

afghani currencyThe value of the US dollar has appreciated against the Afghani currency, with the buying rate currently standing at 58.25 AFN.

Earlier this year, the US dollar was sold at an exchange rate of 52-53 AFN.

Local moneyexchangers have linked the soaring dollar price to the delay in signing of the key security accord with the US.

The Bilateral Security Agreement is the last assurance left for investors in terms of their security concerns.

The Afghan Central Bank pumps in US dollars in the market through its weekly sales. For the next week, the Central Bank has announced to circulate USD 30mn in the market in a bid to keep the Afghani currency stable.

However, moneyexchangers believe the bank’s decision would not have any significant role, since the investors are discouraged due to President Karzai’s refusal of the security pact.



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