Afghan central bank injects $11 mn to stabilise currency

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The DAB was requesting all eligible banks, foreign exchange and monetary service providers to participate in the auction scheduled on Monday…reports Asian Lite News

 Afghanistan’s central bank injected $11 million into the local market in a bid to strengthen the national currency, afghani, Da Afghanistan Bank (DAB) said.

The DAB was requesting all eligible banks, foreign exchange and monetary service providers to participate in the auction scheduled on Monday, according to a DAB statement on Sunday.

“In auction bids, partial settlement of currencies is not allowed and the winners of the auction must deposit to Da Afghanistan Bank their money at one time in cash,” the statement said.

The US dollar has depreciated against afghani, compared with a couple of weeks ago. Earlier this week, the DAB conducted auctioning of $13 million, Xinhua news agency reported.

Since the Taliban’s takeover of Afghanistan in mid-August 2021, the United States has frozen more than $9 billion of assets of Afghanistan’s central bank and thus undermined the banking system in the war-torn country.

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