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Afghanistan’s central bank chief upbeat over stable AFN

The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.

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The acting head of Da Afghanistan Bank (DAB) says that the value of the afghani (AFN) against the US dollar has remained stable compared to that of other currencies in the region.

Hadayatullah Badri said in a Supreme Council of Da Afghanistan Bank meeting this week that the liquidity situation in banks has improved because "people's deposits in the Islamic banking sector have increased by 4 percent compared to the previous quarter."

Issues that were also discussed at the meeting included the effective implementation of monetary policies, the state of the banking sector, efforts to develop Islamic banking, the mechanization of exchange activities and people's access to financial services.

Last month, the UN’s World Food Program (WFP) reported that following political changes in August 2021, inflation surged in Afghanistan, peaking at 18.3 percent in July 2022.

However, it subsequently plummeted into deflation, reaching -9.0 percent in March 2024.

Similarly, food inflation decreased from +26 percent in June 2022 to -13.8 percent in March 2024.

The persistent deflation is reflecting a fall in food prices and weak consumer demand.

However, WFP stated: “While deflation supports low food prices, limited number of job opportunities and low wages will continue to weaken household purchasing power.”

Exchange Rate:

The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.

After its surge in January 2022, the value of AFN started to consistently appreciate against the US dollar during the year 2023 and remains relatively stable, hovering around AFN 70-74 per USD since November 2023.

Factors such as US dollar auctions by the Da Afghanistan Bank, ban on foreign currencies for domestic transactions, increased remittances, and UN dollar shipments significantly contribute to the stability of AFN, WFP reported.

 

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Human traffickers should be sentenced to 1 to 3 years in prison: IEA leader

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The Leader of the Islamic Emirate has issued a decree instructing the Ministry of Interior Affairs to prevent human trafficking and to arrest and refer culprits to military courts.

The decree containing six articles says that that military courts should sentence human traffickers to one year in prison for the first time, two years if repeated for the second time and three years if repeated for the third time.

The ministries of Hajj, information, telecommunications, borders, propagation of virtue, as well as religious scholars are asked to inform the public about the dangers and adverse consequences of travelling through smuggling routes.

The decree comes as the rate of migration has increased following the political change in Afghanistan in 2021.

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Eight Afghan migrants die as boat capsizes off Greek island

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Eight Afghan migrants died after a speedboat carrying migrants capsized off Greece's eastern island of Rhodes on Friday, the Associated Press reported.

Greek authorities said that the capsizing was the result of the boat’s maneuvering to evade a patrol vessel.

A total of 18 migrants — 12 men, three women and three minors — all Afghan nationals, were rescued, Greece's coast guard said Saturday. The dead were also from Afghanistan, it said.

Some migrants remained hospitalized, with one in critical condition, authorities said.

Two Turkish citizens, ages 23 and 19, were arrested as the suspected traffickers. The boat sank after capsizing, the coast guard said.

The sinking off Rhodes was the second deadly incident involving migrants in the past week.

Seven migrants were killed and dozens were believed missing after a boat partially sank south of the island of Crete over the weekend — one of four rescue operations during which more than 200 migrants were rescued.

 

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Norwegian Chargé d’Affaires meets with IEA deputy foreign minister

Welcoming the diplomat’s visit to Kabul, Stanikzai underscored the importance of political relations between Afghanistan and Norway, the foreign ministry said in a statement.

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The Norwegian Chargé d’Affaires for Afghanistan, Per Albert Ilsaas, on Saturday met with IEA’s Deputy Foreign Minister for Political Affairs, Sher Muhammad Abbas Stanikzai, in Kabul.

Welcoming the diplomat’s visit to Kabul, Stanikzai underscored the importance of political relations between Afghanistan and Norway, the foreign ministry said in a statement.

In addition to focusing on bilateral political, humanitarian, and other pertinent issues, the two sides expressed hope that continued engagement would lead to constructive solutions to related issues.

This comes two weeks after the Foreign Ministry Spokesman Abdul Qahar Balkhi expressed disappointment regarding the decision by the Norwegian government to downgrade diplomatic relations with Afghanistan.

Balkhi said in a post on X that such decisions should not be linked with internal affairs of other countries.

“Diplomatic engagement is most effective when it fosters mutual understanding and respect, even amidst differing viewpoints,” he stated.

“Access to consular services is a fundamental right of all nationals. We strongly urge all parties to prioritize this principle in the spirit of international cooperation,” he added.

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