Afghan central bank auctions 12 mln USD to stabilize local currency
Xinhua
22 Sep 2022, 11:18 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.
Subscribe and Follow
Get a daily dose of Africa Leader news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Africa Leader.
More Information
20
℃
Abortion regardless of marital status legalized by India's top court
NEW DELHI, India: In a decision widely hailed by women's rights activists, India's top court upheld the right of a ...
Another delay for US moon rocket as hurricane approaches Florida
CAPE CANAVERAL, Florida: NASA has announced that it will roll its giant moon rocket, the Space Launch System, off its ...
Boarding up windows, stacking sandbags as hurricane nears Florida
MIAMI, Florida: As Hurricane Ian crashes across the Caribbean, bringing high winds and torrential rains, Florida residents are scrambling to ...
After Roger Waters urges end to support for Ukraine, concert canceled
KRAKOW, Poland: Organizers said an April Roger Waters concert planned in Krakow, Poland, has been canceled due to Waters' support ...
Israeli forces in West Bank given green light to use drones for assassinations
TEL AVIV, Israel - The Israeli army has approved using drones to carry out assassinations in the West Bank.The extraordinary ...
Picture of King Charles to slowly become circulated on UK currency
LONDON, England: As Britain adjusts to its first new head of state in 70 years, the government printers responsible for ...
China prepares wide-body C919 jet for passenger service
BEIJING, China: During a ceremony this week, China certified its C919 narrow-body passenger jet, which is part of the country's ...
U.S. stocks sold off sharply, Nasdaq Composite drops 162 points
NEW YORK, New York - It was another volatile day on Wall Street on Friday as investors weighed up more ...
US capital goods orders rise 1.3% in August, surprising experts
WASHINGTON D.C.: New orders for U.S.-manufactured capital goods in August increased more than expected, indicating that businesses are still keen ...
Asian stocks close out month and quarter on dismal note
SYDNEY, NSW, Australia - Asian stocks closed out the month and the quarter on a dismal note Friday."The 'troubling triad' ...
With eye on competition, Tata Motors selling $10,000 EV in India
NEW DELHI, India: As it seeks to attract more buyers, Tata Motors, the country's only electric vehicle maker, has introduced ...
40,000 Chinese workers to be deported as Manila ends online gaming
MANILA, Philippines: The justice ministry in Manila said it will close 175 Chinese-owned "Philippine offshore gambling operators" and deport some ...
