AFGHANISTAN AFGHANI CURRENCY APPRECIATES

Value of Afghani against Dollar increases

epa10839863 A pile of old Afghan banknotes at a currency dealer at a local market in Kabul, Afghanistan, 04 September 2023. The value of the Afghan currency, the Afghani, has recently experienced a sudden increase against foreign currencies, particularly the US dollar. The exchange rate reached a high of 75 Afghanis to one US dollar on 02 September, the highest in recent years. This is a significant improvement compared to the previous exchange rate of over 125 Afghanis to one US dollar under Taliban rule. The rise in value can be attributed to the weak Pakistani rupee, prompting people in provinces that formerly used the Pakistani currency to shift to Afghanis for business transactions. Additionally, the Taliban government's Da Afghanistan Bank has implemented better policies to stabilize the currency's value. In response to the increased demand for dollars, the bank plans to auction 16 million dollars to stabilize the Afghani currency further. EPA/SAMIULLAH POPAL

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