Central Bank supreme council member and board member of the Afghan Trust Fund in Switzerland, Shah Mohammad Mehrabi, said that the successful utilization of monetary policy tools has maintained price stability and reduced volatility in the exchange rate.
In a video message, Mehrabi told TOLOnews:
“The Central Bank of Afghanistan has successfully utilized monetary policy tools to maintain price stability and reduce volatility in the exchange rate. Compared to other currencies, the Afghani has remained relatively stable.”
One dollar was exchanged for around 89 afghani on Sunday in Kabul markets.
“One of the main reasons that we witness the packages of $30 and $40 millions is that the Western countries want to maintain the shortage of the dollar and this issue caused the dollar to be stable,” said Seyar Qureshi, an economist.
The Ministry of Economy said that the surge in exports and the prevention of corruption as well as the smuggling of dollars are the main reason for the stability of afghani currency.
“There are various reasons, such as a surge in exports, collection of fines, collection of custom tariffs at the border, the elimination of corruption, and the prevention of dollar-smuggling abroad--these are the reasons that played an important role in regional stability,” said Abdul Latif Nazari, deputy Minister of Economy.
“The prevention of dollar-smuggling and the increase of dollars in the markets caused the Afghani currency to remain stable,” said Abdul Rahman Zirak, a spokesman for the Union of Money Exchangers of Sarai Shahzada.
Earlier, the office of the economic deputy of the Prime Minister announced that the passengers via land ports cannot transfer more than $500. According to the office, the passengers who are traveling by air can take up to $5,000.