DAB to auction $14m tomorrow to strengthen afghani

KABUL (Pajhwok): Da Afghanistan Bank (DAB) on Sunday said it would auction 14 million dollars tomorrow (Monday) to strengthen the local currency.

In a statement, the central bank said it would inject $14 million into the market in the form of auctioning the greenback.

“The DAB invites eligible commercial banks and exchange and monetary service companies to participate in the auction,” the statement added.

According to the bank, winners of the tender are required to settle their accounts immediately until the end of the day.

Partial settlement of transactions is not allowed and the winner must pay the money in one and in cash form.

The dollars are being auctioned after $40 million international humanitarian aid arrived in Kabul on Saturday following a lull lasting one month.

sa/ma