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Neglecting of Central Bank Causes Afghan Currency Lose its Values

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(Last Updated On: October 25, 2022)

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Money exchangers in Shazadah Market have expressed their concerns over increasing of US dollar prices against Afghan currency.

They have said,” it has been two weeks that Afghan currency has lost its values against US dollars in the markets one US dollar was exchanged from 58 Afghani but now one US dollar is exchanged up to 60 Afghani.”

The following money exchangers have declared the main factor for losing the values of Afghan currency is the neglecting of officials in central bank, and promoting of neighboring countries’ currencies in some provinces of Afghanistan.

Kabul money exchangers spokesperson Majid Hameedzadah said,” I declare the reason for Afghan currency fall against International currencies is interfering of the officials in central banks, earlier the following bank used to sell 80 event up to 100$ Million in the markets, but last week they sold only $50 million.”

Meanwhile a number of experts on economy sectors have addressed the reasons for losing Afghan currency values against international currencies are increasing of insecurity, low US dollars injected within the markets.

Economy expert Mohammad Mohsin Amiri said,” more than 80% of goods are being imported from neighboring countries, insecurity rocks.”

We tried much to get hold of officials in central bank but none has picked our calls.

Reported by Nimatullah Ahmadi

 

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Azizi calls on Malaysian investors to invest in Afghanistan

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(Last Updated On: April 24, 2024)

Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.

The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.

According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.

According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.

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Afghanistan starts exporting via railway to Turkey

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(Last Updated On: April 22, 2024)

The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.

In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”

The ministry added that one train will run daily for a month and then two trains will run daily.

According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.

Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.

As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.

This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.

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Afghanistan, Kazakhstan to hold joint expo in Kabul

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(Last Updated On: April 21, 2024)

A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.

Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.

“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”

According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.

Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.

During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.

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