Latest news
Thumbnail

Islamic Emirate Bans Use of Foreign Currency

The Islamic Emirate on Tuesday announced a complete ban on the use of foreign currency in Afghanistan.

In a statement, the Islamic Emirate said the economic situation and national interests require the people to avoid use of foreign currency.

"The economic situation and national interests in the country require that all Afghans use Afghani in every trade," the statement reads.

According to the statement, the use of foreign currencies will have a negative impact on the country’s economic situation.

The move is taken amid economic problems and the freeze of Afghanistan’s central bank assets abroad.

Meanwhile, officials from the Afghanistan Chamber of Commerce and Investment (ACCI) said using Afghanis for small daily activities is feasible but they need to use dollars for major transactions. 

Afghanistan’s central bank in a statement on Wednesday said USD account holders can withdraw up to $400 per week and Afghani account holders can withdraw up to 30,000 Afghanis per week from bank accounts.

Following the collapse of the former government on August 15, the banks were closed for several days then they gradually resumed their services with some limitations. At first, the limit was a $200 USD withdrawal per week for USD accounts and a 20,000 Afghani limit per week for Afghani accounts.

Islamic Emirate Bans Use of Foreign Currency

Officials from the chamber of commerce and industry said they need to use US dollars for large trade activities and transactions.

Thumbnail

The Islamic Emirate on Tuesday announced a complete ban on the use of foreign currency in Afghanistan.

In a statement, the Islamic Emirate said the economic situation and national interests require the people to avoid use of foreign currency.

"The economic situation and national interests in the country require that all Afghans use Afghani in every trade," the statement reads.

According to the statement, the use of foreign currencies will have a negative impact on the country’s economic situation.

The move is taken amid economic problems and the freeze of Afghanistan’s central bank assets abroad.

Meanwhile, officials from the Afghanistan Chamber of Commerce and Investment (ACCI) said using Afghanis for small daily activities is feasible but they need to use dollars for major transactions. 

Afghanistan’s central bank in a statement on Wednesday said USD account holders can withdraw up to $400 per week and Afghani account holders can withdraw up to 30,000 Afghanis per week from bank accounts.

Following the collapse of the former government on August 15, the banks were closed for several days then they gradually resumed their services with some limitations. At first, the limit was a $200 USD withdrawal per week for USD accounts and a 20,000 Afghani limit per week for Afghani accounts.

Share this post

Comment this post