Dollar resurgence temporary: Money changers

KABUL (Pajhwok): US dollar on Monday appreciated by 10 percent against afghani comparing to the five days earlier value but according to money changers the resurgence of US dollar against afghani was temporary.

Since July, the value of Afghani started improving against US dollar and on August 13^th one US dollar was purchased 83.90 afs comparing to its earlier value of 86.10 afs.

According to money changers on August 31, one US dollar was sold 72.80 afs and the reason behind swift appreciation of afghani was said to be ban of the use of Pakistani rupees in southern provinces and the provision of more dollars by the Central Bank to the market.

But today (Monday) September 4, the value of dollar again appreciated against afghani.

Haji Hussain, the owner of Sadaqat Money Changer in Shahzada Sarai, said at 2:00pm afternoon one dollar was accounted for 80.50 afs.

Referring to the reason of dollar appreciation, he said most people supplied afghani to the market and purchase dollar therefore afghani’s value has surged.

Mohammad Nadir, another money changer, said: “There is uncertainty in the market, people are trying to change afghani to the dollar which helped the appreciation of dollar value.”

He said some money changers have benefited from the situation while some suffered losses.

Abdul Rahman Zerak, spokesperson for the Shahzada Sarai, said: “Unfortunately, afghani value depreciated from the past two days, currently one dollar is accounted for 80.50 afs or 81 afs, but this situation is temporary.”

“I assure you that Afghani value would be appreciated again, people were worried and everyone tried to change their afghani notes to dollar,” he added.

This comes that earlier the Da Afghanistan Bank announced supply of $13 million to the market while today it also announced supply of $16 million to the market.

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