$14m being auctioned today to stabilise afghani

KABUL (Pajhwok): Da Afghanistan Bank (DAB) is set to auction today (Sunday) up to $14 million in an effort to boost the value of the afghani.

In a statement, the central bank asked all monetary companies and services to participate in the auction.

Last week, the bank had auctioned the same amount of dollars to stabilise the money market and strengthen the local currency.

Slightly depreciating against the local currency, one US dollar currently accounts for 90 afghanis.

Earlier, the afghani’s free fall had triggered an unprecedented hike in food prices, creating serious problems for the people.

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