US dollar value jumps over 2pc against afghani

KABUL (Pajhwok): Moneychangers at Sara-i-Shahzada money exchange market in capital Kabul on Sunday said the US dollar unprecedentedly increased against the Afghan currency, as one US dollar is accounted for 94 afghanis.

Today, November 14, one US dollar is accounted for 94 afghanis, registering a two percent increase compared to two days ago, when one US dollar was exchanged for 90 afghanis.

Moneychangers say that after the fall of the previous government on August 15, the economic situation of the country lost its stability.

According to Pajhwok Afghan News report, a week before the fall of the previous government, one US dollar was accounted for 70 afghanis and the local currency has since depreciated by 34 percent against the US dollar.

Haji Hussein Malik, owner of Sadaqat Money Exchange Service at Sara-i-Shahzada market in Kabul, told Pajhwok that one US dollar was accounted for 94 afghanis today, compared to 90 afghanis two days ago.

He said that following the regime change in the country, the economic situation of the country faced a serious problem, which led to the depreciation of afghani against the US dollar.

“Unfortunately, our neighboring countries Iran and Pakistan buy dollars from Afghan markets in order to stabilize their currencies, which has a great impact on the appreciation of the dollar against the afghani,” he added.

He said that if trafficking of dollars from Afghan markets was not stopped and other factors that destabilize the Afghan currency were not controlled, the afghani would lose its value even further.

Ahmad Shah, another money changer in Sara-i-Shahzada, said that there was need for resumption of international community’s assistance to Afghanistan, unfreezing of Afghanistan assets, and restrictions on banks removed for stabilizing the situation in the country.

If the situation continues, it will further depreciate the Afghani against the US dollar and increase the prices of imported goods in the country’s markets, he said.

Pajhwok tried to contact government officials for their comment on the regard, but no one responded.

mds/ma

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