Afghan Currency Surges Against Dollar in Kabul
The value of Afghan currency has recently increased against the US dollar in the Kabul market. On Sunday, one dollar was sold for 87 Afs in Sarai Shahzada, the country’s biggest money market.
The money exchangers at Sarai Shahzada said that the prices of Afghan currency increased against the US dollar due to the auctions of the US dollar by the Central Bank.
“Da Afghanistan Bank had two auctions in one week. This has increased the value of the Afghan currency,” said Zabiullah, a money exchanger.
“In the last week, the dollar has dropped by 50, 30, or 40 cent every day. One dollar was exchanged for 91 Afs but it is no less than 87 Afs,” said Abdul Rahman Zirak, a spokesman for the Union of Sarai Shahzada Money Exchangers.
The Central Bank said that it has put up for auction more than $64 million within the last 10 days.
“The reason is … that the dollar is increased in the rest of the world but drops in Afghanistan, it is a commercial move which is a plot against Afghanistan,” said Sayed Masoud, an economist.