Afghan central bank auctions 12 mln USD to stabilize local currency
Xinhua
22 Sep 2022, 11:18 GMT+10
The central bank's decision was made amid tumbling afghani against foreign currencies, especially the U.S. dollar, in the moneychangers markets.
KABUL, Sept. 22 (Xinhua) -- Afghanistan's Da Afghanistan Bank (DAB) said on Wednesday that it has put in auction 12 million U.S. dollars as part of efforts to keep the local currency afghani stable.
The central bank's decision was made amid tumbling afghani against foreign currencies, especially the U.S. dollar, in the moneychangers markets.
The exchange rate of one U.S. dollar was 88 afghani last week, but it rose to 88.77 afghani on Tuesday.
In similar efforts, the central bank auctioned 12 million U.S. dollars a couple of weeks ago.
However, observers believe that afghani would continue to lose against foreign currencies unless local and foreign companies invest in the war-torn and impoverished country to create job opportunities for the Afghans.
Subscribe and Follow
Get a daily dose of Beijing Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.
More Information
24
℃
Putin Grants Russian Citizenship to US Document Leaker Snowden
Russian President Vladimir Putin on Monday granted Russian citizenship to Edward Snowden, the former American security contractor who leaked information ...
Analyst suggests Apple won't have October event for Macs, iPads launch
Washington [US], September 26 (ANI): American tech giant Apple doesn't have enough products to hold a dedicated event in October, ...
Pakistan PM calls meeting of National Security Committee over audio leaks
Islamabad [Pakistan], September 26 (ANI): Pakistan Prime Minister Shehbaz Sharif summoned a meeting of the National Security Committee (NSC) on ...
Audio leaks of Pakistan government raise questions about cybersecurity
Islamabad [Pakistan], September 26 (ANI): The audio leak of the conversations of Pakistan Prime Minister Shehbaz Sharif and other leaders ...
Psychedelic drugs: how to tell good research from bad
Research with psychedelic drugs has made a dramatic comeback amid a heady mix of softening societal attitudes, the lure of ...
Putin Grants Russian Citizenship to Edward Snowden
MOSCOW - President Vladimir Putin has granted Russian citizenship to former U.S. security contractor Edward Snowden, according to a decree ...
Stocks in Asia fall across-the board as recession fears take hold
SYDNEY, NSW, Australia - Stocks in Asia plummeted on Wednesday as the U.S. dollar continued to surge.Fears of higher interest ...
Deutsche Bank analyst warns Bank of England to raise rates
FRANKFURT, Germany: Deutsche Bank analyst George Saravelos said the Bank of England must raise interest rates as early as next ...
Shortage of materials, inflation slow Japanese factory output
TOKYO, Japan: As Japanese firms are coping with a global economic slowdown and high energy and raw material costs exacerbated ...
Stocks in U.S. mixed Tuesday, U.S. dollar rally extends
NEW YORK, New York - Stocks were choppy on global markets Tuesday as investors struggled with a slew of bad ...
After end to Covid aid, Canada has $4.67 billion budget surplus
OTTAWA: Canada's finance ministry has said that partly due to higher tax revenues and the end of COVID-19-related benefits, the ...
Bond sell-off spreads, US dollar rises
LONDON, England: If worldwide government bond losses continue, 2022 marks the worst year since 1949 as investor sentiment falls to ...
