The value of Afghanistan’s currency, Afghani, against dollar has dramatically dropped by three percent in local markets over the past month.
However, according to Central Bank officials, Afghani’s value is more stable this year compared with the last year.
According to the Central Bank, one dollar was exchanged for AFs75 a month ago and now it is around AFs77.8.
One of the reasons behind a drop in Afghani’s value against dollar is that a big amount of dollar is taken out of the country’s markets, head of the Central Bank’s monetary policies department Nayib Khan Jamal told TOLOnews on Wednesday, April 17.
“The value of Afghani has dropped by three percent against the dollar in a month and if we look at the neighboring countries’ currencies, the percentage of changes that happen there is much higher than Afghanistan,” Jamal said.
Critics said uncertainty in the country’s political situation affects the value of Afghanistan’s currency.
“Our currency has not been stable in recent months. The Central Bank injects at least $40 million to the market every week but it is not a long-term solution. Other monetary policies should be sought,” said Mansour Hedayat, a university lecturer.
The Central Bank has injected $670 million to the currency market to stabilize the value of Afghani since mid-March, according to officials.