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

Ghani approves major projects at High Economic Council meeting

Chaired by President Mohammad Ashraf Ghani, the High Economic Council (HEC) meeting was held in the Presidential Palace on Tuesday.

First-Ever Paper Production Factory Opens in Kabul

The first-ever paper factory has opened in Kabul, and it has the potential to meet the annual demand for white

First Ever Solar Power Plant Inaugurated in Energy-Starved Kandahar Province

President Mohammad Ashraf Ghani inaugurated the first ever solar power plant in southern Kandahar province, where residents and industrialists have

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Your e-mail address will not be published.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.

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china