Afghan Central Bank Injects More Money To Stabilise Local C...| MENAFN.COM

Tuesday, 17 May 2022 02:09 GMT

Afghan Central Bank Injects More Money To Stabilise Local Currency


Kabul, May 11 (IANS) Afghanistan's central bank announced that it would further inject $12 million into the local market to boost the national currency, afghani.

The Da Afghanistan Bank (DAB) said in a statement that it was requesting all eligible banks and monetary service providers, among others, to participate in the auction scheduled for Wednesday, reports Xinhua news agency.

'In auction bids, partial settlement of currencies is not allowed and the winners of the auction must deposit in the Da Afghanistan Bank their money at one time in cash,' the statement said.

The US dollar has depreciated against afghani compared with a couple of weeks ago.

The DAB conducted auctioning of $12 million late in April.

Since the Taliban's takeover of Afghanistan in August last year, the US has frozen more than $9 billion of assets of the central bank, thus undermining the banking system of the war-torn country.




Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.