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

Afghan Ministry of Mines Dismisses Media Reports on Non-Transparent Oil Deal

Media had recently claimed that the contract granted to the Chinese firm on oil exploration at the Amu River basin

Roshan to sponsor Afghanistan’s top football league for another 3 years

Roshan will remain the title sponsor of the Roshan Afghan Premier League for the next three years. This announcement was

Afghan Central Bank sells USD 12mn in the market

Afghanistan’s central bank, Da Afghanistan Bank (DAB), has announced to sell USD 12mn in the market on Saturday. DAB requested

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Your e-mail address will not be published.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*