The Kabul times, Afghanistan Trustable News Agency.
EconomicNational

Afghani among world’s 9 most stable currencies

Officials in the Islamic Emirate of Afghanistan (IEA) say that based on the economic policy of the country’s central bank, the country’s currency has been among the nine most stable currencies in the world in the last year.“ Based on the American publication Bloomberg assessment, fortunately, the Afghani has become one of the 9 top and stable currencies as its value has increased by 5.6 percent against the US dollar compared to last year,” said Ahmad Jawad Sadad, currency policy director for the country’s central bank. Talking to reports in a news conference held Wednesday, Jawad said the value of the Afghan currency has increased by 5.6 percent against the dollar in the past year, while the value of the Afghani against the US dollar decreased by 13.86 percent in the previous year.

Previously, the economic experts and the American publication Bloomberg had assessed that the Afghan currency has shown a lot of resistance during the past year. The Islamic Emirate has recently imposed new restrictions on those carrying foreign currency out of the country via a directive from the office of the prime minister of the Islamic Emirate following a report that millions of dollars were being smuggled to outside. Based on the directive of the country’s prime minister office, the order spelled out new currency limits clearly for the first time and laid out new punishments  up to a year in prison. While a $5,000 limit was already in place, the new edict added that the amount people could take via road border crossings. In the news conference, officials of the country’s central bank announced an increase in the withdrawal ceiling in private banks from 30,000 AFG in the past to 5,5000 AFG per week. “The leadership of the Central Bank decided to provide facilities in commercial banks and commercial banks and foreign banks agencies should obey the order,” said Hasib Noori, spokesman of the Central Bank. This shows that the bank system is going to be normalized gradually.  Besides, it is good news that the country’s currency has kept its value against foreign currencies particularly the US dollar. Samiullah Momand

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The Kabul times, Afghanistan Trustable News Agency.