Afghanistan central bank to sell $10 million to support currency

/ Asia: With the abrupt withdrawal of foreign support following the victory in August, ’s has gone into freefall, putting a severe strain on the banking system which has set weekly withdrawal limits to stop a bank run.

Some 9 billion USD in central bank reserves held outside the country have also been frozen by the , despite growing calls for them to be released to help ease the financial squeeze that is strangling the economy.

According to a money exchanger in the main Sarai Shazada exchange, the afghani was quoted at 93.80 to the dollar. That compared with a price of 91.20 four days ago.

The central bank invited eligible banks and foreign exchange dealers to bid in the sale. It said all successful bids had to be cleared in full by the end of the day.

“We assure our esteemed compatriots that the functioning of the country’s banking system will soon return to normal and that the of the afghani will be maintained,” the central bank said in an announcement.


Source link:iranpress

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