US Dollar Continues to Climb against Afghani, Draws Concerns

(Last Updated On: June 24, 2018)

Afghans are expressing worrying concerns as the US dollar continues to claim against Afghan currency. 

One US dollar (USD) was accounted for 72.00 Afghanis on Sunday which shows rare increase rate over the last 16 years in Afghanistan.

“The demand for this currency [USD] is very high and every commercial transaction were being made by dollar, that is why we are facing lack of this currency in the market,” said Amin Jan Khostai, the Deputy Head of Money Exchangers’ Union.

Da Afghanistan Bank (Central Bank), however, said that addressing the demands for USD in the markets were not the responsibility of this institution and that the rise of USD rate in global markets and its smuggle to abroad were the two main reasons behind the decline of Afghan currency in the market.

“Without a doubt, the mafia groups are smuggling this currency [USD] to outside the country,” said the Central Bank Spokesman Aimal Ashor.

The economic experts, meanwhile, linked the issue to domestic products, saying that most of the imported products were being bought by US dollars which causes the flow of USD from the country.

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