Afghanistan's Central Bank To Auction 16 Mln USD To Stabilize Local Currency

2024-12-08 05:19:24

(MENAFN- The Peninsula) Xinhua

Kabul: Afghanistan's central bank announced in a statement that it will auction 16 million U.S. dollars on Monday in a bid to maintain the stability of the national currency, the afghani.

"The bidders, including moneychangers and private banks, should deposit the necessary money in cash in the form of afghani in the central bank -- Da Afghanistan Bank," the central bank said in a statement posted on the social media account X.

According to the statement, the bank requested all eligible banks, foreign exchanges and monetary service providers to participate in the auction.

Afghanistan's central bank has pumped millions of dollars into the local money exchange market over the past three years, aiming to prevent the decline in the value of the afghani against foreign currencies.

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