Pajhwok Afghan News

Value of afghani increases against US dollar by 6.7pc

KABUL (Pajhwok): The value of the US dollar dropped from 102 to 95 afghanis on Wednesday, registering a 6.7 percent recovery compared to the rates two days ago.

After the fall of the previous government on August 15 last year, international aid to Afghanistan decreased and the United States froze nearly 10 billion of its foreign exchange reserves, which resulted in a major economic blow to the country that also led to the depreciation of the afgahni against US dollar.

According to reports, on December 13 last year, one US dollar was exchanged for 130 afghanis. However, the value of the Afghan currency increased again after some time, and on January 31, one US dollar was exchanged for 102 afghanis.

Haji Dadgul, deputy head of Sara-i-Shahzada Money Changers Union in Kabul, told Pajhwok Afghan News that one US dollar was accounted for 95 afghanis as of 1pm today, Wednesday.

In response to a question about the reason how the afghani appreciated, he said that the first reason was increased international aid to Afghanistan and distribution of cash aid to people in provinces of the country.

“The second reason for the appreciation of afghani against US dollar is improvement of the situation in the country. There were some political developments in Oslo conference about Afghanistan which created hopes for people,” he said.

Ahmad Shah, another money changer in Sara-i-Shahzada, said, “The value of the afghani is not stable, it sometimes appreciates and sometimes depreciates.”

He said one US dollar was exchanged for 93 afgahnis today morning, but it reached again to 95 afgahnis in the afternoon. “The amount of dollar has increased in the market but no one knows how that was increased,” he said.

Haji Hussein, owner of Sadqat Money Exchange Service in Kabul, said that the value of afghani was appreciating against the US dollar since Tuesday.

mds/ma

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