The money-exchange union of Sarai Shahzada, Kabul announced that today (Sunday, 12th November) 66.70 Afs were exchanged for $1 USD, a week ago it was 73.50 Afs/dollar.
The spokesman for the money-exchange union said that the rise was caused due to the ban on thr use of foreign currencies, particularly Pakistani rupees, in business deals in the country.
“The main reason is that Da Afghanistan Bank has announced deadlines for the provinces which were using Kaldor [Pakistani rupees] for the past years,” he said.
“Within the past three-months, the value of afghani currency has increased gradually and the [US] dollar is dropping. This is good news for the economy of Afghanistan,” said Mohammad Dawood Nazari, a money exchanger.
To stabilize the value of the afghani, the union also stressed the use of Afghan currency in the markets.
This comes as Da Afghanistan Bank (Central Bank) said that it has a sufficient amount of Afghan currency which it can inject into the market if needed.
“We are assuring our countrymen that Da Afghanistan Bank holds sufficient banknotes in a bid to release it in the market based on monetary policies,” said Haseebullah Noori, a spokesman for DAB.
Meanwhile, the residents complained that despite the surge in value of afghani currency against US dollars, the price of food materials has remained high.
“We call on the government to bring changes in the prices. The oil dropped and so did the flour. We are poor people, and we don’t care about the dollar,” said Faisal, a resident of Kabul.
“The prices of one dollar were once 130 Afs but now $100 is exchanged for 6,800Afs,” said Mohammad Amir, a resident of Kabul.
This comes as the prices of dollars in the neighboring countries, including Pakistan and Iran, have risen.