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)
- World’s smallest smart ring? Oura ring 5 just raised the bar
- ‘Taiwan is the epicenter of AI’: Nvidia plans to spend up to $150 billion a year
- Entire family jobless after tech and fintech layoffs, viral Reddit post sparks online debate
- Why is OpenAI paying USD 445,000 salary to stop self-improving AI?
- USD 2.2 billion scam stopped: Apple reveals massive app store crackdown
