Central bank to auction $16m on Saturday

KABUL (Pajhwok): Da Afghanistan Bank (DAB) on Thursday announced it would auction 16 million US dollars on Saturday to strengthen the local currency.

In a post on X, the central bank said it would inject $16 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 the bank, 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.

In line with its policy, the bank had earlier auctioned 15 million US dollars to keep the currency stable.

hz/mud