To maintain the Afghani currency’s purchasing power versus the US dollar, the Central Bank of the Taliban’s caretaker government sets an auction on Saturday, 23rd July, to sell about 13 million dollars.

According to the Central Bank’s newsletter, a foreign currency auction will be held on Saturday, July 23, and banks, money exchange dealers, and other informed parties, including licensed money service organizations, are invited to participate.

As food prices increased as a result of the Afghani currency’s decline versus other currencies, the Taliban’s Central Bank also released approximately 24 million dollars into the market during the past week.

A US dollar is currently worth 89 Afghanis in Kabul. The US dollar was worth less than 80 to the Afghani currency prior to the Taliban taking power.

The Afghani currency lost value against the US dollar during the first few months of the Taliban’s rule in Afghanistan, with 120 Afghanis being exchanged for every dollar.

According to a research by the International Committee of the Red Cross (ICRC), rising inflation rates are having a severe impact on hundreds of thousands of unemployed, impoverished Afghans and their families.

However, more than 30 packages totaling 32 million dollars in cash have recently been delivered to the Central Bank by the United Nations as humanitarian relief for Afghanistan.

Author

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