English | دری

Afghans turning to US dollar for major business deals

in Afghan Business

Afghans turning to US dollar for major business deals

The use of US dollar is becoming more prevalent among Afghan businessmen as Afghani currency remains unstable.

Local businessmen find US dollar a more stable currency and use it in major deals including car deals, house purchases and land transactions.

The Afghani currency depreciated precipitously after withdrawal of foreign forces in 2014. The value of Afghani currency against one dollar fluctuated from 54.82 AFN in early 2014 to 68.35 AFN in July 2017.

The Central Bank allows businessmen to carry out their transactions in any currency they desire, government institutions must use Afghanis only.

According to reports, some government institutions use US dollar in most of their dealings, even in minor procurement such as furniture.



Related Articles

Citizen Information Center Brings More Transparency and Accountability to Kabul Municipality

USAID Press Release-The Kabul Municipality inaugurated today the first Citizen Information Center (CIC) in Afghanistan.  The CIC is located within

Over 4,000 families benefit from 15 completed infrastructure projects in Nangarhar

With 10% community contribution, the National Solidarity Program (NSP) of the Ministry of Rural Rehabilitation and Development (MRRD) has completed

First drug rehab center established in Sar-e-Pul province

With at least 12,000 people including women and children addicted to drugs, Sar-e-Pul province had always lacked a drug rehabilitation

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Your e-mail address will not be published.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.