AFGHANISTAN CURRENCY STRENGTH

Afghanistan's currency sees unexpected rise in value amidst economic challenges

epa10897178 An Afghan currency dealer sorts Afghan Afghanis at a currency market in Kabul, Afghanistan, 03 October 2023. According to a recent World Bank report, Afghanistan's currency, the Afghani has increased in value against several major currencies despite negative inflation. The rise in value can be attributed to factors such as an increase in remittances from Afghan citizens abroad and a government-imposed ban on conducting transactions using foreign currency within Afghanistan. Additionally, the Taliban government has placed limits on the amount of money individuals and businesses can withdraw from banks, which helps stabilize the economy by keeping more money within the banking system. The report also highlights that the foreign exchange market in Afghanistan is balanced, with a stable and uniform exchange rate throughout the country. This surprising development comes amidst economic challenges and political turmoil in Afghanistan. EPA/SAMIULLAH POPAL

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