Connect with us

Latest News

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.

Published

on

(Last Updated On: )

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.

 

Related Stories: 

 

Central bank warns against dealing with unlicensed money changers

DAB launches new banking withdrawal system for Afghans

Latest News

Special meeting will be held to launch Afghanistan–Russia joint commission, says Kabulov

Published

on

(Last Updated On: )

Zamir Kabulov, Russia’s special envoy for Afghanistan, on Wednesday met with Afghanistan’s Acting Minister of Foreign Affairs Amir Khan Muttaqi in Kabul and said a special meeting will be held on the sidelines of the Kazan Forum to officially launch the permanent joint commission between Russia and Afghanistan.

According to a statement issued by the Afghan foreign ministry, Kabulov said that expanding relations with Afghanistan is important to Russia, and for that purpose, Moscow has taken steps to remove obstacles in the path of developing bilateral ties.

This comes after Moscow last week removed the Islamic Emirate from their list of militant organizations.

During the meeting, Muttaqi expressed appreciation for Russia’s recent move to remove the IEA from its list of banned organizations and stated that the Islamic Emirate will soon appoint a diplomat at the ambassadorial level to serve in Moscow.

The two sides also discussed enhancing bilateral relations between Afghanistan and Russia, expanding economic and trade cooperation, and addressing certain regional issues.

The 16th International Economic Forum “Russia – Islamic World: Kazan Forum” will be held from May 13 to 18 in the city of Kazan, Russia. Afghan products and goods will be showcased at the event.

Continue Reading

Latest News

Balochistan business chamber asks Islamabad to issue work permits to Afghan refugees

This comes amid Pakistan’s ongoing campaign to expel hundreds of thousands of Afghan refugees living in the country.

Published

on

(Last Updated On: )

The Balochistan Chamber of Commerce and Industry in Quetta, Pakistan, has appealed to the federal government to issue work permits to skilled Afghan refugees who work in various sectors including mining and agriculture.

Haji Akhtar Kakar, the vice president of the chamber of commerce and industry, made the request while pointing out that the existing shortage of skilled labour could worsen further if the issue was not addressed promptly, Dawn news reported.

This comes amid Pakistan’s ongoing campaign to expel hundreds of thousands of Afghan refugees living in the country.

Akhtar said however that due to Balochistan’s deteriorating security situation, mine owners, farmers and industrialists have had to rely on Afghans for skilled labor as Pakistani workers from other provinces were reluctant to move to Balochistan.

According to him, the decision to expel Afghan refugees had severely impacted the agriculture, mining, and industrial sectors in Balochistan, as a significant portion of the workforce came from Afghanistan.

Continue Reading

Latest News

China keen to invest in Afghanistan’s agriculture sector: Ministry

Published

on

(Last Updated On: )

Acting Minister of Agriculture, Irrigation and Livestock, Attaullah Omari, on Tuesday met with a delegation and representatives from the Chinese private sector in Kabul and they discussed expanding cooperation, investment in agriculture, livestock, and irrigation, as well as sharing China’s experiences with Afghanistan.

In a statement, the agriculture ministry said that the Chinese delegation emphasized the Beijing private sector’s interest in investing in Afghanistan’s agriculture and livestock sectors.

The Chinese delegation also expressed readiness to begin practical projects once certain facilities such as land leasing are arranged, the statement read.

The Chinese delegation also met with Nooruddin Azizi, the acting Minister of Industry and Commerce.

During this meeting, Azizi stated that they would provide all necessary facilities for foreign investors.

Over the past three years, most Chinese companies have shown interest in investing in Afghanistan’s mining sector. However, this marks the first time that Chinese investors are seeking to invest in the country’s agriculture sector.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!