Afghanistan’s central bank to auction 16 mln more USD to stabilize local currency

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KABUL, Feb. 5 (Xinhua) — Afghanistan’s central bank Da Afghanistan Bank (DAB) will auction 16 million U.S. dollars on Sunday to stabilize the exchange rate of the national currency, a statement of the bank said.

Afghanistan’s national currency, the afghani, has been tumbling against foreign currencies, especially the U.S. dollar. The exchange rate of one U.S. dollar increased from last week’s 88 afghanis to 89.50 afghanis at the moment.

The DAB has injected millions of U.S. dollars into the country’s money-exchange market over the past month in an effort to prevent the fall of afghani against foreign currencies.

The DAB also auctioned up to 16 million U.S. dollars last week.

Afghanistan has received nearly 2 billion U.S. dollars in cash over the past year as part of the international community’s humanitarian aid to stabilize the war-torn country’s economy. Enditem

Source China