Officials of the Central Bank of Afghanistan, in their annual performance program, said that over the past year, they have collected and destroyed more than seven billion Afghani worth of damaged banknotes.
They consider maintaining the value of the afghani against other currencies, preventing the smuggling of dollars, collecting worn-out banknotes, increasing the withdrawal limit from banks, reducing the inflation rate, implementing monetary policy, expanding Islamic banking, and developing financial services the most significant achievements of the Central Bank in the past year.
Sediqullah Khalid, the First Deputy of the Central Bank, said: "When the amount of damaged money in the country's markets increases, last year the Central Bank managed to collect damaged banknotes worth over seven billion afghanis, which includes various types, from both the center and provinces, and in accordance with a specific procedure, stops their collection and circulation."
According to the bank officials, the value of the Afghani increased by 17.25% in August of the current solar year compared to August of the previous year.
Ahmad Jawad Sadad, head of the Central Bank's Monetary Policy, said: "Based on the statistics provided by the National Statistics and Information Authority, in the month of Saratan of the current year, the inflation rate is -6.6%, while last year, the inflation rate was -9.1%."
The head of Non-Banking Financial Supervision added that they have issued a total of 1,780 licenses for money exchangers, and five electronic money institutions have also received licenses to operate. The bank aims to transform transactions into electronic form in the coming years.
Ahmad Zahir Naserzai, head of non-banking financial institutions of the Central Bank, said: "More than 2,400 unlicensed money exchanges and financial services were identified, and necessary actions were taken in coordination with relevant agencies. Additionally, over the past year, 149 licenses were issued for money exchange companies and over 309 licenses for representatives."
The Central Bank of Afghanistan has also increased the cash withdrawal limit, and according to the bank's information, the weekly withdrawal limit has been raised to 150,000 Afghani and the monthly limit to 500,000 afghani.
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