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Afghan Banks Running Low on Dollar Reserves

in Afghan Business

Afghan Banks Running Low on Dollar Reserves

The 10-billion-dollar reserves of the Da Afghanistan bank (Central Bank of Afghanistan) frozen by the US Government are not only detrimental to the Afghan economy but also a serious threat to the continued functioning of the banks and the banking system in the country.

Reuters reported that the continuing economic crisis in Afghanistan has caused the dollar reserves of the country’s banks to decline significantly.

Informed sources told Reuters that the dollar reserves of Afghan banks are running out, and if the issue is not addressed in a timely manner, the banks may close down.

According to these sources, banks in Afghanistan have continued to operate with the dollars they have saved. They added that the Union of Private Banks had also raised the issue with Da Afghanistan Bank and Taliban officials.

The country’s banking union has called on the Taliban and Da Afghanistan Bank to distribute more dollars to the foreign exchange market to prevent the fall of private banks. Afghans can only withdraw only $200 or 20,000 afghanis a week from their accounts.


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Afghanistan frozen reserves

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