Sunday, April 14, 2024

Soiled and Mutilated Currency Announced Unusable: Afghanistan Central Bank

Immigration News

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

According to the Taliban-controlled Central Bank of Afghanistan’s most recent announcement, Afghan banknotes, which their physical form has been altered or parts of them have been damaged or lost are announced to command no value.

Soiled notes, mutilated banknotes, and extremely brittle, charred, burnt, or stuck-up notes are announced in the Central Bank’s announcement to be worthless, rendering them unusable in financial transactions.

To help the public comprehend, the Central Bank, also known as Da Afghanistan Bank, has published pictures of disfigured and damaged Afghan banknotes that are considered valueless.

People and money exchange dealers have recently been concerned about the rise in mutilated and soiled cash in western Afghan provinces, especially Herat.

Da Afghanistan Bank organized auctions earlier this week to sell about $24 million to maintain the Afghani currency’s value relative to US dollars.

In addition to that, the businessmen and money exchange dealers in southern Afghanistan, previously, were concerned about an influx of counterfeit dollar bills flooding the market.

According to money exchange dealers, counterfeit money causes real money to lose value and causes prices to rise (inflation) when more of it is in circulation, which, if unchecked, causes economic disruption in Afghanistan.

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