Pakistani Rupee a common alternative currency in Nangarhar markets

by Wadsam | May 31, 2014 4:14 am

Pakistani Rs[1]Owed to its proximity to Pakistan, eastern Nangarhar province serves as a major trade route between Afghanistan and Pakistan.

The Pakistani Rupee is becoming a commonly used currency in Nangarhar markets where Afghanis and Rupees are simply interchangeable despite a major difference in the currencies.

Currently in Afghan financial markets 1000 Rupees is equivalent to 577 Afghanis.

“Our fare is stable, pay me 60 Pakistani rupees or 60 Afghanis, it doesn’t matter,” Tolo News quotes one rickshaw driver in the provincial capital of Jalalabad.

Other foreign currencies like US dollars and Iranian Rial are popular in Afghanistan.

Some residents and officials link this trend to the lack of confidence in the stability of Afghani currency and the failure of the Afghan Central Bank in keeping Afghani the primary choice of currency.

Endnotes:
  1. [Image]: http://wadsamstaging.barbaricum.com/wp-content/uploads/2014/05/Pakistani-Rs.jpg

Source URL: https://wadsam.com/afghan-business-news/pakistani-rupee-a-common-alternative-currency-in-nangarhar-markets-989/