Taliban Central Bank To Auction $16 Million Amid Afghani Currency Drop

2025-01-11 08:14:15

(MENAFN- Khaama Press) Following the depreciation of the Afghani currency against foreign currencies, the Taliban-controlled central bank has announced the auction of $16 million USD.

The bank issued a statement on X, stating that the amount will be sold on Sunday, January 12.

Private banks and exchange service providers have been invited to participate in the auction, according to the statement.

The Taliban central bank is auctioning $16 million to stabilize the value of the Afghan currency against foreign currencies.

A few days earlier, the bank had sold $15 million for the same purpose.

The recent decline in the Afghan currency's value follows rumors about the potential suspension of U.S. cash aid to the Taliban. This has triggered significant market volatility in the past few days.

Currently, one U.S. dollar is being traded at 72.40 Afghanis in the country's currency markets.

Efforts by the Taliban-controlled central bank to stabilize the Afghan currency highlight the challenges of managing a fragile economy under global sanctions and limited financial inflows.

The continued depreciation of the Afghan currency underscores the need for long-term financial solutions to ensure economic stability and support the livelihoods of Afghan citizens.

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