While the dollar has fluctuated slightly against the Afghan afghani over the past two years, especially from July 1 to the middle of this month, the dollar has increased day by day over the past two weeks. Up to 77 afghanis were also traded in Kabul markets. Meanwhile, a spokesman for the Central Bank of Afghanistan said in an interview with Ava that the bank officials are determined to control the country's foreign exchange market.
Publish dateSaturday 25 January 2025 - 17:24
Story Code : 305814
Afghan Voice Agency (AVA) - Kabul: The appreciation of the dollar against the Afghan currency has raised concerns these days. Although the Central Bank of Afghanistan today auctioned $20 million with the aim of keeping the Afghan currency stable against foreign currencies, the rising dollar has not yet been controlled.
Hasibullah Noori, spokesman for the Central Bank of Afghanistan, told AFP that the Afghanistan Bank today auctioned 20 million US dollars to maintain the value of the Afghan currency. This is done to control currency fluctuations, stabilize the Afghan currency and meet market needs.
"We assure all our compatriots that the Central Bank of Afghanistan is committed to preventing volatility and stabilizing the Afghan currency," Noori said.
"As experienced globally, short-term exchange rate fluctuations are a natural part of the economy, which can be largely controlled by using strong monetary policies," Noori said. The ground is emphasized."
According to the central bank spokesman; "The central bank will not allow severe fluctuations in this sector. The central bank has sufficient financial resources and will meet the market's foreign exchange needs if necessary.
Meanwhile, Kabul residents are worried about the rise in prices of raw materials as the dollar appreciates against the Afghan currency.
Mohammad Taqi, a resident of western Kabul, told AFP that with his meager income, he would not be able to support his family if the price of raw materials rose.
He said that for at least the past two years, the Afghan currency had maintained its stability against foreign currencies, including the dollar, but again the dollar has taken stability from the Afghan currency in the currency markets.
He called on the Islamic Emirate, especially the Central Bank, to make every effort to keep the Afghan currency stable so that there is no excuse for opportunistic traders and importers.
The price of raw materials has not changed as the dollar appreciates against the Afghan currency
These statements come as shopkeepers in Kabul's Mandovi say that the price of raw materials has not changed significantly as the dollar has risen against the Afghan afghani.
Mohammad Wahid, a shopkeeper in Mandovi, told Ava that except for the price of oil, which has risen in the past two months before the dollar rose, there have been no changes in other raw materials and foodstuffs.
He also said that currently a sack of first-class flour is 1,400 afghanis, a 16-liter barrel of oil is 1,800 afghanis, a sack of high-quality rice is 2,600 afghanis, a garlic of high-quality beans is 770 afghanis, a garlic of first-class peas is 730 afghanis, a garlic First lentils, 680 AFN and Similarly, a kilogram of borax is sold at 54 afghanis and a kilogram of first-class tea is sold at 330 afghanis in retail outlets.
According to Wahid, the initial items were sold at the same price when the dollar was 70 afghanis, and now that it has reached nearly 77 afghanis, it has not changed.
The currency fluctuations come as US President Donald Trump announced last week that he would suspend US aid to countries. Meanwhile, the country's foreign minister announced that it had suspended all foreign aid to the country. However, Islamic Emirate officials say Afghanistan does not need and depend on US aid.
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