Skip to main content
Latest news
تصویر بندانگشتی

Rising Dollar Value Sparks Grocery Price Hikes in Kabul

 Residents of Kabul say that with the increase in the value of the dollar against the Afghani, the price of groceries is also rising, which is a cause of concern for many people.

Since a large portion of Afghanistan's goods are imported and purchased in dollars, fluctuations in the value of the dollar have a direct impact on the price of groceries.

In the past two weeks, the value of one US dollar has increased by four afghani in the country's markets.

Shah Mohammad, a resident of Kabul, expressed his concern about the rising prices of groceries, saying: "When the dollar goes up, prices automatically rise as well. People have become very helpless and can’t afford to buy."

"When the dollar goes up, we can’t afford to buy food because the prices increase,” said another resident of the capital, Shamshad.

Recently, one US dollar has been exchanged for up to 75.61 afghani.

Experts believe that the suspension or reduction of international aid could be one of the main reasons for the rise in the value of the dollar and the instability of the afghani against foreign currencies.

"When foreign aid and dollars are stopped—whether directly to the government or indirectly to NGOs—it has very negative effects on the country because our imports are high, and our exports are low,” Mohammad Nabi Afghan, an economic expert, told TOLOnews.

However, the country's central bank considers fluctuations in currency value a normal occurrence and assures efforts to prevent severe volatility.

"The Central Bank of Afghanistan, as a committed institution, aims to maintain the value of the afghani and prevent severe fluctuations. Currency fluctuations can occur in any country’s currency,” said Haseebullah Noori, the spokesperson of Afghanistan's central bank.

According to the statement from the Central Bank of Afghanistan, 20 million dollars will be auctioned on Saturday to stabilize the Afghan currency and reduce the value of the dollar.

Rising Dollar Value Sparks Grocery Price Hikes in Kabul

In the past two weeks, the value of one US dollar has increased by four afghani in the country's markets.

تصویر بندانگشتی

 Residents of Kabul say that with the increase in the value of the dollar against the Afghani, the price of groceries is also rising, which is a cause of concern for many people.

Since a large portion of Afghanistan's goods are imported and purchased in dollars, fluctuations in the value of the dollar have a direct impact on the price of groceries.

In the past two weeks, the value of one US dollar has increased by four afghani in the country's markets.

Shah Mohammad, a resident of Kabul, expressed his concern about the rising prices of groceries, saying: "When the dollar goes up, prices automatically rise as well. People have become very helpless and can’t afford to buy."

"When the dollar goes up, we can’t afford to buy food because the prices increase,” said another resident of the capital, Shamshad.

Recently, one US dollar has been exchanged for up to 75.61 afghani.

Experts believe that the suspension or reduction of international aid could be one of the main reasons for the rise in the value of the dollar and the instability of the afghani against foreign currencies.

"When foreign aid and dollars are stopped—whether directly to the government or indirectly to NGOs—it has very negative effects on the country because our imports are high, and our exports are low,” Mohammad Nabi Afghan, an economic expert, told TOLOnews.

However, the country's central bank considers fluctuations in currency value a normal occurrence and assures efforts to prevent severe volatility.

"The Central Bank of Afghanistan, as a committed institution, aims to maintain the value of the afghani and prevent severe fluctuations. Currency fluctuations can occur in any country’s currency,” said Haseebullah Noori, the spokesperson of Afghanistan's central bank.

According to the statement from the Central Bank of Afghanistan, 20 million dollars will be auctioned on Saturday to stabilize the Afghan currency and reduce the value of the dollar.

Share this post

Comment this post