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Afghani goes up against US dollar

in Afghan Business

Afghani goes up against US dollar

afghanisThe value of the Afghani currency has picked up pace after months of considerable decline.

The uncertain political situation and the prolonged elections process had hit Afghani hard as investors were hesitant to bring in capital in the country.

Other factors such as lack of balance between exports and imports, capital flight and fears of economic downturn in the aftermath of 2014 had adversely affected the value of Afghani.

Afghani currency has started gaining back its value against the US dollar, according to figures from Sarai Shahzada—Kabul’s main financial institution where over 300 money exchangers provide services.

The value of Afghani against US dollar currently stands at 56.60.

Money exchangers in Sarai Shahzada have attributed in the increase in the value of Afghani to the supply of US dollar by the central bank and the breakthrough deal between the two presidential candidates, Abdullah Abdullah and Ashraf Ghani, brokered by the US Secretary of State John Kerry.

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