Contract signed to print 390 million Afghani banknotes

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A contract with Oberthur Fiduciarie for 390 million Afghani banknotes with a total face value of approximately 10 billion Afs, has been signed, a member of the Afghan Central Bank’s supreme council, Shah Mehrabi, said.

Earlier, Mehrabi said that two batches of Afghani banknotes printed by the PWPW had arrived in Kabul.

“These notes are large denomination notes versus the small denominations that were printed by PWPW. The payment from DAB to Oberthur Fiduciarie has been confirmed and was transferred into the Oberthur account on October 20th 2022,” Mehrabi said.

The Ministry of Economy said that the arrival of new printed Afghani banknotes will not affect its values against foreign currencies in the country.

“We will try to preserve the value of our currency and support our economy through the printing of new banknotes,” said Abdul Latif Nazari, deputy Minister of MoE.

The economists said that if the Central Bank manages the circulation of money and monitors it properly in the markets, the challenges of liquidity will be solved in the country.

“The Central Bank, based on demands of the market, has delivered new banknotes and it is also the responsibility of the Central Bank to control banknotes in the market because it can affect the currency policy,” said Seyar Qureshi, an economist.

“The amount of delivery is considered when delivery of money is lower than its determine level,” said Mir Shikib Mir, an economist.

Earlier, Mehrabi told TOLOnews that the last batch of 1.5 billion Afs printed by PWPW will be delivered to Afghanistan within next few months.—Tolonews

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