Latest News
Afghanistan’s central bank chief upbeat over stable AFN
The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.
The acting head of Da Afghanistan Bank (DAB) says that the value of the afghani (AFN) against the US dollar has remained stable compared to that of other currencies in the region.
Hadayatullah Badri said in a Supreme Council of Da Afghanistan Bank meeting this week that the liquidity situation in banks has improved because “people’s deposits in the Islamic banking sector have increased by 4 percent compared to the previous quarter.”
Issues that were also discussed at the meeting included the effective implementation of monetary policies, the state of the banking sector, efforts to develop Islamic banking, the mechanization of exchange activities and people’s access to financial services.
Last month, the UN’s World Food Program (WFP) reported that following political changes in August 2021, inflation surged in Afghanistan, peaking at 18.3 percent in July 2022.
However, it subsequently plummeted into deflation, reaching -9.0 percent in March 2024.
Similarly, food inflation decreased from +26 percent in June 2022 to -13.8 percent in March 2024.
The persistent deflation is reflecting a fall in food prices and weak consumer demand.
However, WFP stated: “While deflation supports low food prices, limited number of job opportunities and low wages will continue to weaken household purchasing power.”
Exchange Rate:
The monthly average exchange rate between AFN and US dollar was recorded at AFN 72.0 per 1 USD.
After its surge in January 2022, the value of AFN started to consistently appreciate against the US dollar during the year 2023 and remains relatively stable, hovering around AFN 70-74 per USD since November 2023.
Factors such as US dollar auctions by the Da Afghanistan Bank, ban on foreign currencies for domestic transactions, increased remittances, and UN dollar shipments significantly contribute to the stability of AFN, WFP reported.
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Tajik authorities say their border guards clashed with militants who crossed into Tajikistan’s Khatlon region from Afghanistan on Tuesday night.
Tajikistan’s State Committee for National Security said in a statement that militants intended to carry out an armed attack on one of the border outposts.
Three militants were killed and two Tajik soldiers died in the clash. From the scene, three firearms—an M-16 rifle and a Kalashnikov assault rifle—three foreign-made pistols equipped with suppressors, ten hand grenades, one night-vision device, explosives, and other military equipment were seized, according to the committee.
This was the third reported attack from Afghanistan into Tajikistan in the past month, with the previous ones targeting Chinese nationals.
The Islamic Emirate previously said it assured Tajikistan it was ready to tighten border security and conduct joint investigations.
Business
Afghanistan’s first aluminum can factory launched in Herat with $120 million investment
Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, laid the foundation stone of the “Pamir” aluminum can production company at the industrial parks of Herat on Thursday.
Afghanistan’s first aluminum can manufacturing plant was officially launched on Thursday in Herat province, marking a significant step toward industrial development and economic self-reliance.
Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, laid the foundation stone of the “Pamir” aluminum can production company at the industrial parks of Herat on Thursday.
According to officials, the Pamir factory is the first of its kind in Afghanistan and is being established with an investment of $120 million. The project will be built on 16 jeribs of land within Herat’s industrial zones.
Once completed, the factory is expected to create employment opportunities for around 1,700 Afghan citizens. Officials say the project will play a key role in boosting domestic production, reducing reliance on imports, and strengthening the national economy.
Authorities described the launch of the project as a clear sign of growing investment in the industrial sector and ongoing efforts to promote economic self-sufficiency in the country.
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