English | دری

Central Bank Links Depreciation of Afghani to Dollar Smuggling

in Afghan Business

Central Bank Links Depreciation of Afghani to Dollar Smuggling

Head of the central bank warns about the smuggling of US dollar out of Afghanistan through the borders and links it to the depreciation f Afghani against the foreign currency.

Khalilullah Sediqi, the head of the central bank (Da Afghanistan Bank), was summoned on Monday to the Wolesi Jirga to explain the reasons behind the depreciation of Afghani currency against the US dollar.

The official cited insecurity, political and economic insecurity and smuggling of US dollars as the main reasons behind the depreciation of Afghani against the US dollar.

He also added that the nation’s high trade deficit further pushes the value of Afghani down.

The  US dollar currently costs 72.80 compared to last year in July when it was worth 68 Afghanis.

According to Sediqi, the foreign currency is being smuggled out of Afghanistan via Islam Qala dry port in Herat, Hairatan Port in Balkh and via the airports in Kabul and Balkh, Farah and Nimroz provinces.

 Wolesi Jirga speaker Abdul Rauf Ibrahimi called on authorities, mainly the security forces, to take an action and stop the smuggling of dollars out of the country.


Tags assigned to this article:
Afghani currency against US dollar

Related Articles

Daikundi province of Afghanistan to have its largest food storage

Local authorities of Daikundi province announced the establishment of the largest food storage in the province. The storage, costing 20

France pledges € 10mn for development projects in Bamyan, Wardak

The French government has pledged € 10mn for development projects in central Bamyan and Wardak provinces. The aid will go

Afghani Continues to Dip Against US Dollar

The Afghani currency continues to depreciate against the US dollar causing prices of essential items to soar in Kabul markets.

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Your e-mail address will not be published.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.