Afghanistan’s central bank Da Afghanistan Bank (DAB) sold US $14 million by auction on Monday to stabilise the exchange rate of the national currency afghani, the bank said in a statement.
The local currency Afghani has been tumbling against foreign currencies, especially the US dollar, over the past couple of months. The exchange rate of one US dollar increased from last week’s 84.1 Afghanis to 85 Afghanis on Monday.
The DAB has injected millions of US dollars into the country’s money-exchange market over the past month to prevent the fall of the afghani against foreign currencies.
Afghanistan has received more than 2 billion dollars in cash over the past 21 months as part of the international community’s humanitarian aid to prevent the economic collapse of the cash-strapped country.