Connect with us

Business

Foreign Exchange Reserves Increased in 1395: Central Bank

Avatar

Published

 on

(Last Updated On: December 31, 2016)

1Officials at Central Bank of Afghanistan said foreign exchange reserves increased in the year of 1395 up to $ 400 million, which indicates 3 percent growth of the economy of Afghanistan.

He also urged that we have had only 4,6 percent of monetary inflation and we hope to have the same inflation incoming year of 1396.

Chief of Central Bank Khalil Sediq said, “We had planned to increase $ 50 million into our foreign exchange reserves but the number remarkable increased up to $ 400 million in the year of 1395.”

Based on the estimation of the Central Bank Afghan currency only fell more than 2 percent against US dollars, however the following percentage was 17 percent in the year of 1394, Central Bank has earned 43 billion Afghani from selling of worthy documents.

“We expect to experience a year full of investments for better Afghanistan in 1396.” Chief of Central Bank of Afghanistan Khalil Sediq said.

The increasing of foreign exchange of reserves come after that people have complained over poverty, unemployment, high rating of first foods and increasing of taxation in the period of the National Unity Government.

Reported by: Lida Naizi

Continue Reading
Advertisement

Business

Central bank to run campaign promote Afghani in western provinces

Avatar

Published

on

(Last Updated On: May 26, 2020)

The government has set to launch a campaign over the use of Afghani currency instead of Iranian Rials in domestic transactions in western parts of the country.

Sharifullah Shagewal, a spokesman for the central bank of Afghanistan, Da Afghanistan Bank said that the organization has set to boost the use of Afghani currency in local markets.

Shagewal added that the replacing Iranian Rials with Afghani currency could gain Afghani value against foreign currencies.

According to reports, many provinces sharing borders with Iran use Rials for transactions.

It comes as the organization launched a campaign in the past one year just to tell people not to use foreign currencies in Nangarhar, Laghman, Kunar, Paktia, Paktika, Khost, Helmand, and Kandahar province, where public used to use Pakistani rupees in daily transactions.

Now, the De Afghanistan Back added that so far, it succeeded to prevent billions of Pakistani rupees from money circulation in the country.

Meanwhile, the central bank of Afghanistan urges the public to join the campaign by using Afghani currency instead of foreign currencies in their daily businesses.  

Continue Reading

Business

Locusts attack along India-Pakistan border threatening food security

Avatar

Published

on

(Last Updated On: May 25, 2020)

There has been an increased risk along both sides of the India-Pakistan border, the Food and Agriculture Organization of the United Nations (FAO) said Friday.

FAO, in its Friday release, warned, “Despite control operations, recent heavy rains have created ideal conditions for the pest’s reproduction in several countries. Young juveniles will become voracious adults in June just as farmers begin to harvest, compounding an already bleak food security situation.”

Reports indicate that India has reached out to Pakistan to counter a locust invasion which threatens to destroy crops and undermine food security in the south and southwest Asia already threatened by the COVID19 pandemic.

According to Indian news outlets, swarms of desert locusts swept Jaipur on Monday as the insect onslaught spread wider to parts of Rajasthan, Madhya Pradesh, and Uttar Pradesh; while Gujarat and Punjab have warned their farmers of locust attacks.

This is the second round of locust attack in India, the first one having occurred during December-February.

Locust attacks in 12 countries, including Pakistan, Iran, and ten nations in Africa, have damaged crops over millions of hectares.

The World Bank has set up a $500 million program to help countries in Africa and the Middle East combat the impact of locusts.

It is noteworthy that the Locusts can destroy standing crops and devastate livelihoods of people – The desert locust is considered the most destructive migratory pest in the world and a single swarm covering 1 square kilometer can contain up to 80 million locusts.

Continue Reading

Business

Pak-Afghan transit affairs to resume – MCIA

Avatar

Published

on

(Last Updated On: May 23, 2020)

The transit problems via Pakistan will soon be resolved, and exports will begin through Torkham and Spin Boldak, the Ministry of Commerce and Industry of Afghanistan reported.

The MCIA says it has been able to reach an agreement with the Pakistani to open the Spin Boldak and Torkham crossings for six days a week to transit.

According to officials, Afghanistan will be able to resume exports through the two crossings following the Eid holidays, noting, “It’s profitable to export through these ports.”

On the other hand, the private sector wants the MCIA to work out other export pathways in addition to that of Pakistan, reasoning “Pakistan’s path is never sure.”

According to officials in the Chamber of Agriculture and Livestock, here we are with the season to harvest fruit; the government must pave the ground for its export.

They also say, “Although it is closer and affordable, it is always uncertain to trade through Pakistan.”

In order for businesses to grow, the government must look for different ways, on national and international levels, experts emphasize.

Challenges triggered by politics have always threatened Afghanistan’s transit and trade relations with Pakistan.

Continue Reading

Trending