English | دری

Central bank injects $300mn to stabilize Afghani currency

in Afghan Business

Central bank injects $300mn to stabilize Afghani currency

The central bank, Da Afghanistan Bank (DAB), has announced to inject USD 200-USD 300 million into the market in a couple of weeks in a bid stabilize the Afghani currency.

This comes as Afghani is continuing to lose its value against foreign currencies in the market, mainly the US dollar.

“We will put on sale USD 200-USD 300mn in the market during the current month to prevent further drop in the Afghani currency,” said DAB head Khalil Sediq.

He added that the monetary policy of the central was on the “right track” and had no “role” in the decline of Afghani value in the past one year.

He cited insecurity, economic challenges, political uncertainty, drawdown of foreign troops, closure of NGOs and poor investments as the main reasons behind the deteriorating in Afghani currency.

According to Sediq, Afghani currency’s value is still stable compared to the currency values of other countries such as Kazakhstan, Tajikistan, Brazil and Turkmenistan.

He assured that the bank regularly monitored circulation of money to keep it under control.

It is worth mentioning that the Afghani currency is currently valued at 69.35 against the US dollar in Sarai Shahzada market, the largest financial market in Kabul city.



Related Articles

USAID funds Exhibition Afghanistan in Dubai to drive Afghan exports

On December 6-10, 2016, the United States Agency for International Development (USAID), in partnership with Afghanistan’s Ministry of Commerce and

ANA lead veterinary training, treat livestock in Ghorak District

GHORAK DISTRICT, Afghanistan – Afghan National Army Special Forces (ANASF) hosted a veterinary outreach event in Ghorak district, Kandahar province,

“Roses for Nangarhar” – an alternative to poppy cultivation

The “Roses for Nangarhar” development project was officially handed over to an Afghan company, Afghan Roses Ltd, on 16 June

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Your e-mail address will not be published.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.