Dealers count cash at a money exchange market in Kabul, Afghanistan, on July 17, 2022. (Photo by Saifurahman Safi/Xinhua)
Afghanistan's central bank put on auction 12 million U.S. dollars as the country's national currency, the afghani, has been tumbling against foreign currencies, especially the U.S. dollar.
KABUL, July 18 (Xinhua) -- Afghanistan's central bank Da Afghanistan Bank put on auction 12 million U.S. dollars on Sunday as part of efforts to keep the national currency stable, the state-run Bakhtar news agency reported.
A dealer counts cash at a money exchange market in Kabul, Afghanistan, on July 17, 2022. (Photo by Saifurahman Safi/Xinhua)
The bidders, including moneychangers and private banks, should deposit the necessary money in cash in afghani as guarantee in the central bank before the auction begins.
Afghanistan's national currency, the afghani, has been tumbling against foreign currencies, especially the U.S. dollar. The exchange rate of 1 U.S. dollar increased from last week's 88.10 afghanis to 88.40 afghanis on Saturday.
In similar efforts, the central bank auctioned 12 million dollars on June 20 and the same amount on June 27 to keep the national currency stable against foreign currencies. ■
