Afghanistan injects 12 mln USD to stabilize local currency-Xinhua

Afghanistan injects 12 mln USD to stabilize local currency

Source: Xinhua

Editor: huaxia

2022-04-27 09:30:19

Photo taken on April 26, 2022 shows paper currency at a money exchange market in Kabul, Afghanistan. (Photo by Saifurahman Safi/Xinhua)

Afghanistan's central bank injected 12 million U.S. dollars into the local market to strengthen the national currency, afghani.

KABUL, April 27 (Xinhua) -- Afghanistan's central bank injected 12 million U.S. dollars into the local market in a bid to strengthen the national currency, afghani, Da Afghanistan Bank (DAB) said in a statement on Tuesday.

According to the statement, the DAB was requesting all eligible banks, foreign exchange and monetary service providers to participate in the auction on Tuesday.

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

Photo taken on April 26, 2022 shows dealers at a money exchange market in Kabul, Afghanistan. (Photo by Saifurahman Safi/Xinhua)

The U.S. dollar has depreciated against afghani, compared with a couple of weeks ago. On Sunday, the DAB conducted auctioning of 12 million dollars.

Since the Taliban's takeover of Afghanistan in mid-August last year, the United States has reportedly frozen more than 9 billion U.S. dollars of assets of Afghanistan's central bank and thus undermined the banking system in the war-torn country. 

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