Just Earth News | @justearthnews | 21 Sep 2022, 06:39 am Print
Afghanistan Economy Image: Pixabay
Kabul: Afghanistan's Da Afghanistan Bank (DAB) said on Wednesday that it has put in auction 12 million US dollars as part of efforts to keep the local currency afghani stable.
The central bank's decision was made amid tumbling afghani against foreign currencies, especially the US dollar, in the money changers' markets.
The exchange rate of one US dollar was 88 afghani last week but it rose to 88.77 afghani on Tuesday.
In similar efforts, the central bank auctioned 12 million US dollars a couple of weeks ago.
However, observers believe that afghani would continue to lose against foreign currencies unless local and foreign companies invest in the war-torn and impoverished country to create job opportunities for the Afghans.
(With UNI inputs)
- Adidas India layoff shock: Over 350 employees could lose jobs at Gurgaon tech hub
- DGCX, TCS join to advance and upgrade derivatives market infrastructure
- AI could cause 'Immense Harm' within 5 years, ex-Google DeepMind expert warns
- Oracle fires more employees: Layoff emails land early morning
- Apple opens iPhone 18 Pro pre-orders: Here’s everything you need to know
