The Taliban-run Central Bank of Afghanistan stated that an auction to sell $11 million will take place on Sunday.

The Central Bank of the caretaker government of the Taliban has scheduled an auction for Sunday, September 18, to sell roughly 11 million dollars in order to retain the Afghani currency’s purchasing power relative to the US dollar.

Banks, money exchange dealers, and other competent parties, including licensed money services organizations, are invited to take part in the auction, according to a statement from the Central Bank of Afghanistan, also known as Da Afghanistan Bank (DAB).

The auction winners’ obligation to settle their accounts is also highlighted in the statement of DAB.

Dollar packages were previously auctioned for sale as a result of the Afghani currency’s prior depreciation against the dollar, and for the past year since the dollar was introduced injected into the market, the dollar rate has remained largely balanced.

At this time, one US dollar is worth 87.3 Afghanis in Kabul, the Afghan capital. The US dollar was worth less than 80 to the Afghani currency before to the Taliban assuming power.

Author

  • Saqalain Eqbal is an Online Editor for Khaama Press. He is a Law graduate from The American University of Afghanistan (AUAF).