Efforts underway to ensure afghani stability: DAB

KABUL (Pajhwok): Acting head of the Da Afghanistan Bank (DAB) Noor Ahmad Agha has sought money changers’ cooperation in the prevention of currency smuggling and hoarding to ensure the stabilisation of Afghani in the market, a statement said on Sunday.

DAB statement said that a meeting was held with representatives of the money changers' association under the chairmanship of Noor Ahmad Agha, in which they discussed issues related to preserving the value of the Afghani, preventing hoarding, and currency smuggling.

DAB acting head said that the central bank of the country, within the framework of its legal and national responsibilities, was fully committed to taking the necessary measures to ensure the country's economic stability, protect the value of the Afghani, and stabilize prices.

He said: “Changes in prices and currency exchange rates occur not only in our country, but also in many countries around the world, All praise be to Allah almighty, the Afghani has been among the most stable currencies in the region in the past few years, which is the result of the efforts of Da Afghanistan Bank, the trust of our esteemed compatriots, and the cooperation and good coordination of other relevant institutions.”

Regarding the recent fluctuations in the Afghani, he assured that these fluctuations were not of economic significance and not a cause for concern. He added that the supply of currency through an auction process in the center and provinces, the creation of a special market for transparency and better regulation of currency exchange are measures that Da Afghanistan Bank is taking.

During his speech, he also called on money changers to cooperate in preventing hoarding and currency smuggling, taking into account national interests, and if any violations are found in this regard, legal action will be taken against them.

According to the press release, representatives of the money changers' association also assured full cooperation from their side and pledged to comply with the instructions in this regard.

This comes at a time when the value of the dollar has recently increased against the Afghani and Da Afghanistan Bank is scheduled to auction $25 million tomorrow to maintain the value of the Afghani.

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