ADB efforts to keep Afghani currency stable hailed

KABUL (Pajhwok): Officials of the Afghanistan Chamber of Commerce and Investment (ACCI) during a meeting have hailed efforts of the Da Afghanistan Bank (DAB) for stabilising the value of the Afghani and called on government officials to deal with the Sara-i-Shahzada Money Market in a principled and legal manner.

The meeting on "Comprehensive support of the private sector for the Central Bank's recent measures regarding the stability of the Afghan currency" was held today in Kabul with the presence of officials from the ACCI and the Central Bank.

Khan Jan Alkozai, member of the ACCI board of directors, said: “Market was ruined by the propaganda of a few malicious persons, but the Central Bank prevented further destruction with professional measures.”

He added that with the change of government in the United States, the value of the dollar rose in many countries, but in Afghanistan, this issue was resolved very quickly through the efforts of the Central Bank, traders, and money changers

In this meeting, Alokozay continued to call for a principled approach to the Sara-i-Shahzada money market, and said: “The Sara-i-Shahzada Money Market is a historical and valuable economic center, military and security pressure should not be brought on this economic center, and it should be dealt with in accordance with banking principles and laws,”:

At the meeting, Bahram Khan Zadran, head of the Money Changers Union, also said that DAB had taken the necessary measures in accordance with its commitments and had prevented changes in the Afghani rate against foreign currencies.

Zadran added that people should not believe baseless rumors and be confident that the responsible institutions would take the necessary measures in a timely manner.

Also, Sediqullah Khalid, Deputy Governor of the DAB, said in the meeting that the value of the Afghan currency has been maintained more than the currencies of neighboring and regional countries, and the bank is trying to take the necessary measures to stabilize the Afghan currency.

He added that the bank has taken measures to regulate the Afghan currency, such as "currency auctions and creating a special market instead of a bullion market," and is trying to ensure that all transactions throughout the country are carried out only in Afghan currency.

The Deputy Governor of the Central Bank assured that the bank has sufficient financial resources to meet the currency needs in the market.

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