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Afghan central bank to auction $12m to stabilise local currency

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 Afghanistan s Da Afghanistan Bank DAB on Wednesday said that it had put on auction 12 million U S dollars as part of efforts to stabilise the local currency afghani stable The central bank s decision was made amid tumbling afghani against foreign currencies especially the U S dollar in the moneychangers markets The exchange rate of one U S dollar was 88 afghani last week but it rose to 88 77 afghani on Tuesday In similar efforts the central bank auctioned 12 million U S 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 NewsSourceCredit NAN
Afghan central bank to auction m to stabilise local currency

1 Afghanistan’s Da Afghanistan Bank (DAB) on Wednesday said that it had put on auction 12 million U.

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2 S. dollars as part of efforts to stabilise the local currency afghani stable.

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3 The central bank’s decision was made amid tumbling afghani against foreign currencies, especially the U.

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4 S. dollar in the moneychangers markets.

5 The exchange rate of one U.

6 S. dollar was 88 afghani last week, but it rose to 88.77 afghani on Tuesday.

7 In similar efforts, the central bank auctioned 12 million U.

8 S. dollars a couple of weeks ago.

9 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.

10 NewsSourceCredit: NAN

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