Central bank to auction $17m on Saturday

KABUL (Pajhwok): Da Afghanistan Bank (DAB) on Thursday said it would auction 17 million US dollars on Saturday to keep the local currency stable.

In a post on X, the central bank said it would inject $17 million into the market in the form of auctioning the greenback.

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

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

A partial settlement of transactions is not allowed and the winner must pay the money in one go and in cash, it added.

Earlier, DAB had auctioned 15 million US dollars in an attempt to strengthen the local currency.

hz/mud