Afghan currency heavily loses value against dollar


Afghanistan’s currency dramatically dropped in value against the US dollar on Tuesday, with one US dollar being sold for more than 100 Afghanis in the Kabul market.

The Kabul-based money exchange dealers union announced the value of Afghanis against the dollar has dropped following the decrease of dollars in Kabul markets and in other provinces.

“It is the first time that Afghanistan’s currency is losing value against the dollar like this, and the Central Bank is not concerned about the problem.

Previously, the Central Bank was taking actions in such conditions,” said Haji Zerak, Spokesman of the union.

“demands are so high, it means that people are asking for dollars in markets and the dollar (quantity) is decreasing every day,” said Aslami, a money exchanger.

Officials of Afghanistan’s Central Bank refused to comment on the fall of Afghanis against the dollar, but the deputy spokesman of Islamic Emirate, Bilal Karimi, said that efforts are underway to improve the economic situation.

Karimi added that many currencies lost value against the dollar, and it is a global challenge. “Dollar value increased against every currency in most countries, but we are trying to solve the problem and improve the economic situation,” he added.

At the same time, the residents are worried about food price, adding that prices are increasing as the value of dollar is going up. “Prices of food and goods are increasing, and the shopkeepers say it it because of the dollar,” said a resident.

Late Tuesday, Afghanistan’s Central Bank wrote on Twitter that that bank officials held a meeting on Tuesday afternoon and discussed a range of issues including the banking sector and the stability of Afghanis against the dollar in the markets.—Tolo

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