Central bank to auction $18m tomorrow

KABUL (Pajhwok): Da Afghanistan Bank (DAB) on Monday announced it would auction 18 million US dollars tomorrow (Tuesday) to strengthen the local currency.

In a post on X, the central bank said it would inject $18 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,” the statement added.

According to DAB, winners of the tender will be required to settle their accounts immediately -- until the end of the day.

A partial settlement of transactions would not be allowed and the winner must pay the money in one go and in cash, DAB explained.

As per its policy, the bank had earlier auctioned 12 million US dollars to keep the local currency stable.

hz/mud