English | دری

Afghani losing its value, commodity rates on the rise

in Afghan Business

Afghani losing its value, commodity rates on the rise

The Afghani currency has been in free fall in the past four months, losing its value by 13% against the US dollars and 9% against the Pakistani Rupees.

According to Pajhwok Afghan News (PAN), the rates of food items and other commodities increased by 18% and fuel by 40%.

The Afghani currency reached at 68.65 AFN in Sarai Shahzada, Afghanistan’s largest financial market situated in capital Kabul. Four months ago, the exchange rate between AFN and US dollar hovered between 58-60 AFN.

Meanwhile, the Pakistani Rs has also appreciated against Afghani. In July, the buying rate of 1000 Pakistani Rs was 584 AFN; it currently accounts for 623 AFN in Sarai Shahzada market.

On the other hands, rates of food items and other commodities have soared.

Food Traders Union head Fazal Rahman says the price of a 49-kilogram bag of Pakistani flour was 1,460 AFN and the same quantity of sugar 2,120 AFN. A 24.5kg bag of rice cost 1,750 AFN, a 16-litre tin of ghee 1,000 AFN, a kilogram of green tea 210 AFN and the same quantity of African black tea 240 AFN.

In July of this year, a 49kg of Pakistani flour cost 1,230 AFN, the same quantity of sugar 1,620 AFN, a 24.5kg sack of rice 1,550 AFN, 16 liters of ghee 950 AFN, a kilogram of green tea 180 AFN and the same quantity of black tea 210 AFN. (Source: PAN)

One liter of petrol costs 51 AFN, compared to 48 AFN four months ago. The same quantity of diesel is sold at 42 AFN, compared to 41 AFN in July.

The price for one kilogram of liquefied gas has soared from 30AFN to 65AFN.

Some Kabul residents have called on the government to step in and control the prices.

Afghanistan’s economy began to decline considerably during last year’s electoral crisis, which brought investment level down by 40%. The rise in security forces’ operational costs during the current year, falling domestic production and capital flight of USD 2bn are cited as key reasons for the Afghani depreciation.



Related Articles

Fire insurance coverage for companies is mandatory-Afghan Ministry of Finance

The Ministry of Finance has announced that businesses and foreign organizations without fire insurance coverage would not receive a license

120 Afghan engineers enhance their skills for designing infrastructure projects

More than 120 engineers from six northern Afghan provinces completed a German-funded course to enhance their drawing and designing skills

ACCI wants to end trade relations with Pakistan

The Afghan Chamber of Commerce and Industries (ACCI) have decided to end trade relations with Pakistan after Pakistan failed to

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.