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Afghan currency drops value by 15 % decline

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Last Updated on: October 25, 2022

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The Afghan currency has been rapidly losing its value against foreign currencies as it lost value by 15 % decline in the current year, said chairman of the Central Bank.

Khalil Sidiq, head of Central Bank declared that they have taken serious measures to reduce the exchange rate and will have legal interventions in currency market.

The Afghani is down 15 percent in the current year because of insecurity, capital flight, and absence of investments in the country.

The continuing fall of the local currency has not only worsened the Afghan economy but also dampened the Afghan spirit to rebuild the country, particularly at a time when they are preparing for an intense “Winter Offensive” against the armed Taliban group.

The fall of the Afghani has caused concerns not only among government officials but also among ordinary Afghan people.

“In the current year, the Afghani currency sank to 14.55 percent against foreign currencies, but we are trying to distribute enough money to the currency market to manage the exchange rate,” said, Khalil Sidiq, head of Central Bank.

The Central Bank spends tens of millions of dollars weekly to stem the fall of the Afghani as money continues to leave the country, traders said, reflecting a general lack of confidence to introduce reforms, stimulate growth, guarantee security and cut corruption.

Meanwhile, the officials in Dealers Union of Saraye Shahzada money exchange market in Kabul say that if the Central Bank distributes dollar to the market in a continued process, the dollar rate would be managed.

“With distributing money to the market three times in a week, the Central Bank can manage the dollar rate,” said Haji Zirak, spokesman of Saraye Shahzada Union.

In the past 14 years, despite the millions of dollars injected into the Kabul exchange market on a weekly basis, the bank is still unable to stop the Afghani free fall.

 

 

 

 

 

 

 

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Kabul to host ‘Afghanistan–Central Asia Consultative Dialogue’ tomorrow

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At the initiative of the Ministry of Foreign Affairs of the Islamic Emirate of Afghanistan, the “Afghanistan–Central Asia Consultative Dialogue” will be held in Kabul tomorrow (Sunday).

The meeting will be chaired by Amir Khan Muttaqi, Minister of Foreign Affairs, and attended by senior representatives from Afghanistan and Central Asian countries.

The discussions will cover political, economic, and security issues, as well as the development of regional cooperation, trade, and transit.

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Around 15,000 cases of vulnerable Afghan children addressed over past year

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The Directorate of Child Protection at the Ministry of Labor and Social Affairs announced on Saturday that in the solar year 1404, through the implementation of extensive support programs and the handling of thousands of protective cases, it has achieved significant accomplishments in securing rights, raising awareness, and improving the situation of children across Afghanistan.

According to the directorate, the registered cases have been organized into 23 different categories, allowing for targeted and specialized handling of each type of case. In the area of awareness-raising, extensive programs have also been implemented to improve the general knowledge of children and their families, resulting in 404,207 children and family members being informed about child rights, explosive hazards, environmental protection, and other important topics.

To strengthen local structures and accelerate case management, the Directorate of Child Protection, within the framework of its 1404 work plan, established 20 new committees at the district level in provincial centers. These committees play a key role in coordinating between government offices, rapidly identifying cases, and providing support services. Currently, child protection committees are active in 204 districts and regularly review and resolve children’s issues.

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Severe rainfall and natural disasters cause heavy casualties across Afghanistan

At least 61 people have been confirmed dead, with 116 others injured. Four individuals remain unaccounted for as search and rescue operations are underway.

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The Spokesperson for the Islamic Emirate of Afghanistan, Zabihullah Mujahid, has confirmed widespread devastation across the country following a series of natural disasters and heavy rainfall. The toll continues to rise as authorities assess the damage.

At least 61 people have been confirmed dead, with 116 others injured. Four individuals remain unaccounted for as search and rescue operations are underway. The disaster has also led to the destruction of 2,448 homes, leaving thousands displaced, while 26,841 acres of agricultural land have been severely damaged. In addition, the storm claimed the lives of 1,045 livestock animals, further exacerbating the already dire situation for rural communities.

In a statement, Mujahid emphasized the ongoing relief efforts. The Islamic Emirate is mobilizing all available resources to assist the hardest-hit regions and ensure the swift recovery of affected communities. The focus remains on providing immediate aid, including shelter, medical supplies, and food, while also beginning the long-term process of reconstruction and recovery.

Authorities have urged citizens in vulnerable areas to remain vigilant as more rain is forecast, adding to the urgency of the ongoing relief operations.

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