KABUL, July 13 (Xinhua) -- Afghanistan's central bank, Da Afghanistan Bank, announced on Monday that it will auction 16 million U.S. dollars on Tuesday in a bid to safeguard the stability of the afghani amid recent currency market fluctuations.
Da Afghanistan Bank invited moneychangers, private banks, and other monetary service providers to participate in the auction.
It had conducted a similar auction of 16 million dollars last week.
In recent weeks, the afghani has faced downward pressure against the U.S. dollar. The local currency is currently trading at around 65.90 afghanis per U.S. dollar, compared to around 62.30 afghanis a month ago, reflecting a moderate depreciation.
Central bank interventions through dollar auctions are part of ongoing efforts to maintain exchange rate stability and bolster confidence in Afghanistan's fragile financial system. ■