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How a General helped increase value of Afghani currency against US dollar

in Afghan Business

How a General helped increase value of Afghani currency against US dollar

Sarai Shahzada, Afghanistan’s largest money exchange market in capital Kabul, witnessed a drastic decline in US dollar value against the Afghani today.

The Afghani currency was  lingering at close to 70 AFN against the US dollar for months. Today, the local currency saw a sudden reduction of almost 3 AFN against the US dollar in Kabul city.

Traders and merchants at Sarai Shahzada have linked the boost in Afghani currency to the banning of Pakistani Rupees in Kandahar–an initiative taken by General Abdul Raziq.

Provincial police chief of the southern Kandahar province General Raziq has reportedly put a ban on Pakistani Rupees in the province.

Pakistani Rupees (known as ‘Kaldar’ in Afghanistan), is commonly used in southern provinces of Afghanistan including Kandahar, Helmand, Uruzgan and Zabul provinces.

Afghanistan’s central bank, Da Afghanistan Bank (DAB), has also intensified its efforts to ban usage of Pakistani Rupees across the country.

A letter is circulating Kandahar province in three local languages asking residents to use Afghani instead of foreign currencies.

According to the letter, deals in Pakistani currently are strictly banned and violators will be fined.

Afghanistan’s attempt to ban Pakistani Rupees in the country comes after the recent clash between the two countries in Torkham along the Durand line where the Pakistani authorities constructed a gate, which the Afghan government called an illegitimate and unilateral move.

The clash resulted in heavy casualties including the death of a major Pakistani army major.

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