Xinhua
22 Sep 2022, 06:48 GMT+10
The central bank's decision was made amid tumbling afghani against foreign currencies, especially the U.S. dollar, in the moneychangers markets.
KABUL, Sept. 22 (Xinhua) -- Afghanistan's Da Afghanistan Bank (DAB) said on Wednesday that it has put in auction 12 million U.S. dollars as part of efforts to keep the local currency afghani stable.
The central bank's decision was made amid tumbling afghani against foreign currencies, especially the U.S. dollar, in the moneychangers markets.
The exchange rate of one U.S. dollar was 88 afghani last week, but it rose to 88.77 afghani on Tuesday.
In similar efforts, the central bank auctioned 12 million U.S. dollars a couple of weeks ago.
However, observers believe that afghani would continue to lose against foreign currencies unless local and foreign companies invest in the war-torn and impoverished country to create job opportunities for the Afghans.
Get a daily dose of Afghanistan Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Afghanistan Sun.
More InformationAlready under siege, the heavily-blockaded Gaza Strip, housing more than two million displaced people, as well as the remaining Israeli...
WASHINGTON, D.C.: U.S. Secretary of State Marco Rubio has announced new visa restrictions. The policy will apply to foreign government...
LOS ANGELES, California: Former Los Angeles Fire Chief Kristin Crowley lost her bid to get her job back after being fired by Mayor...
Last Sunday, the Israeli-Palestinian co-production No Other Land was awarded an Academy Award for best documentary. The Oscar – a first...
WASHINGTON, D.C.: The Supreme Court is to hear arguments in a case that could determine the future of nuclear waste storage in the...
WASHINGTON, D.C.: Multi-billionaire Elon Musk, a close adviser to U.S. President Donald Trump, has welcomed his 14th child. His newest...
(Photo credit: Taya Gray/The Desert Sun / USA TODAY NETWORK via Imagn Images) No. 2 seed Iga Swiatek of Poland and No. 4 seed Jessica...
Panama City — After weeks of lawsuits and human rights criticism, Panama on Saturday released dozens of migrants who were held for...
Karachi [Pakistan], March 10 (ANI): At least six people, including women and children, were killed after the roof of their house collapsed...
Islamabad [Pakistan], March 10 (ANI): The N-40 National Highway, which is the main route between Pakistan and Iran, remained shut for...
Dubai [UAE], March 10 (ANI): New Zealand's rising batting sensation Rachin Ravindra claimed the Golden Bat for most runs and 'Player...
Moscow [Russia], March 9 (ANI): Russia is set to hold joint naval exercises with China and Iran in the Indian Ocean later this month,...