Business
IEA directs commission to take urgent steps to stabilize Afghan currency
The Islamic Emirate of Afghanistan (IEA) on Monday held a minister’s council meeting at the Presidential Palace to find ways to stabilize the weakening Afghan currency.
IEA deputy spokesman Inamullah Samangani said in a tweet that the council directed the economic commission headed by Mawlawi Abdul Salam Hanafi to take urgent steps to stabilize the Afghani against the US dollar in coordination with all economic institutions.
“The commission was also tasked to take serious steps to prevent the smuggling of dollars, the spread of fake Afghan currency and eliminate other factors that have a negative impact on the value of the Afghan currency, and continue to urgently identify ways to stabilize the Afghan currency,” Samangani tweeted.
Meanwhile, Afghanistan’s Central Bank is meeting with money exchangers, commercial banks and business leaders on Tuesday in the hope of also finding ways to stabilize the value of the Afghani – which has fallen sharply in the last week against the US dollar.
This worrying drop in value of the Afghani against the dollar comes amid a deepening economic and humanitarian crisis and has led to a sharp increase in the price of goods, including essential items like food and fuel.
Officials from the Money Exchange Union in Sarai Shahzada, (Afghanistan’s largest money exchanging market) said on Monday the exchange rate was 123 AFN to the dollar, after sliding from 110 AFN to the dollar on Sunday.
A month ago, it was under 90 AFN to the dollar.
Union officials said part of the problem was due to rumors being spread by some money changers, who have since been let go.
On Monday, the market’s “Boli” section, which determines the value of the AFN and deals with large transactions, was closed.
Meanwhile, local media reported on Tuesday that a money changer suffered a stroke inside his shop in Farah province following the drop in value of the AFN.
According to shop owners in the area, the money changer had owed a significant amount of money to lenders and died as the AFN dropped.
Iranian President Masoud Pezeshkian has said that Tehran will facilitate trade and economic exchanges with Afghanistan, including easing procedures at customs and local marketplaces.
He made the remarks during a televised interview following his visit to South Khorasan province, which shares a border with Afghanistan.
Pezeshkian, in a separate event addressing local business leaders, highlighted the province’s strategic advantages, citing its rich mineral resources, proximity to neighboring countries such as Afghanistan and Pakistan, and access to the ocean via the Chabahar port. He described the region as “a golden opportunity not found everywhere,” emphasizing its potential for economic growth and cross-border commerce.
A Kazakh delegation led by the Deputy Minister of Finance of Kazakhstan met with Sediqullah Khalid, First Deputy Governor of Da Afghanistan Bank, to discuss ways of strengthening banking and economic cooperation between the two countries.
According to a statement issued by Da Afghanistan Bank, Khalid said the central bank is keen to establish regular and effective banking relations with Kazakhstan as part of broader efforts to expand bilateral trade.
He noted that enhanced banking cooperation would help facilitate trade, investment, and wider economic interaction between Afghanistan and Kazakhstan, while also contributing to financial stability at the regional level.
Members of the Kazakh delegation also emphasized the importance of developing banking and economic ties and expressed their readiness to expand joint cooperation.
The two sides further agreed to establish technical committees from both countries to hold expert-level discussions and advance practical steps for cooperation.
Business
Afghanistan, Kazakhstan envoys discuss expanding trade and regional connectivity
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
Afghanistan’s Ambassador to Pakistan, Sardar Ahmad Shakeeb, has met with Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin, to explore ways to strengthen bilateral relations and advance regional cooperation.
The two envoys exchanged views on Afghanistan–Kazakhstan ties, regional connectivity, and major infrastructure initiatives, as well as the opportunities and challenges facing regional trade. Discussions also touched on Kazakhstan’s role in promoting regional stability and other matters of mutual interest.
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
He expressed hope that the proposed $3 billion joint trade agreement, once finalized, would bring tangible benefits to both countries and contribute to broader regional economic integration.
Ambassador Kistafin reaffirmed Kazakhstan’s support for stability and economic growth in Afghanistan, highlighting his country’s involvement in key regional connectivity and trade projects.
He said the current security and stability situation in Afghanistan has increased Kazakhstan’s confidence in expanding regional trade and transit, and praised the efforts of the Islamic Emirate in this regard.
He also stressed the need for coordinated regional efforts to ensure lasting stability, sustainable economic development, and the smooth movement of goods and transit across the region.
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