DAB to auction $10m to boost value of afghani

KABUL (Pajhwok): Da Afghanistan Bank (DAB) announced on Monday it would auction 10 million dollars tomorrow to increase the value of the afghani.

Today, one US dollar accounts for 93 afghanis, compared to 95afs on Sunday (Sunday). Three days ago, one US dollar was exchanged for 90 afghanis.

A reliable source in the central bank told Pajhwok Afghan News DAB would auction 10 million dollars tomorrow (Tuesday) after months of delays to protect the afghani.

The source claimed the value of the afghani was rising again. In the past, DAB auctioned dollars to keep the afghani’s value intact.

Some moneychangers in the Sara-i-Shahzada market said the country’s economic situation had been deteriorating since the fall of the previous government on August 15.

The afghani was in a state of instability and its free fall was raising concerns, they added, stressing the need for stabilising the local currency.

According to Pajhwok reports, a week before the fall of the previous government, one US dollar accounted for 70 afghanis.

sa/mud