Kabul markets affected by drop in Euro, rise of dollar

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One dollar is currently exchanged for 88 Afs and one euro is also exchanged for 88 Afs in Kabul Sarai Shahzada Market. The Euro has dropped and the US dollar is rising, and this will negatively affect Kabul markets, the Union of Money Exchangers of Sarai Shahzada said.

“The decline of the euro will have a negative impact. The Europeans have invested in Afghanistan, and it will affect their investments.

We will not be saved from the damages,” said Abdul Rahman Zirak, a spokesman for the union.

One dollar is currently exchanged for 88.20 Afs and one euro is also exchanged for 88 Afs in Kabul Sarai Shahzada Market.

The economists said the war between Russia and Ukraine is the main reason for the drop of the euro against the USD.

“It will have an impact on the US as well. The US department of Treasury and Central Bank has increased the price of currency to decrease the delivering of dollars in the market,” said Sayed Masoud, an economist.

Meanwhile, some Afghan refugees in France said that due to the drop in the euro against the dollar, the price of food, oil and other materials have surged.

“Its main affect is on the life of normal people and also for the new refugees, it is a big issue,” said Fatima Abdali, an Afghan refugee in France. The last time euro dropped against dollar was in December 2002.—

 

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