Kabul: Afghanistan’s central bank, Da Bank of Afghanistan (DAB), sold $14 million at auction on Sunday to help stabilize the exchange rate of its currency, the Afghanistan, the bank said in a statement issued on Sunday.
The local currency, the Afghani, has weakened against foreign currencies, especially the US dollar, over the past few months. The exchange rate for the US dollar rose to 87.15 afghanis on Sunday from 86 afghanis last week, according to the Xinhua News Agency.
Afghanistan’s central bank has injected millions of dollars into the country’s currency exchange market over the past month to prevent Afghanistan from depreciating against foreign currencies.
Afghanistan has received more than $2 billion in cash over the past 18 months as part of the international community’s humanitarian assistance to prevent economic collapse in the cash-strapped country.
This post was last updated on Apr 30, 2023 at 8:55 PM
