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Afghan currency value dropping against US dollar


Nepalnews
2021 Dec 13, 7:08, Kabul

Post the Taliban took control of Afghanistan in mid-August, the country's economy is on the verge of collapse and the value of Afghan currency continues to depreciate against the US dollar.

The price of one dollar was over 110 Afs (Afghani currency) on Sunday, reported Tolo News.

The union of money exchangers of Surah-e-Shahzad said the lack of sufficient dollars available in the market is the main reason for the rapid fall of the Afs.

"The main reason for the drop in Afs is that the market faces a shortage of dollars and the demand for dollars is high. There are also some negative actors who oppose the Islamic Emirate and make propaganda to cause the drop in value of Afs," said Haji Zirak, a spokesman for the union, reported Tolo News.

"The private banks provide interest in Afs. For example, if previously a company had an account, the bank would give the company's interest in dollars but now they provide the interest in Afs," said Abdul Wahid Aslami, a money exchanger.

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Afghanistan Taliban economy finance crisis currency collapse dollar shortage bank
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