Afghani falls to 74.5 against US dollar

The value of the Afghan currency, the afghani (AFN) is once again falling, and was on Monday trading at 74.5 afghanis to the dollar.

Sari Shahzada money dealers’ union, however, says that the current fluctuations should not be a source of concern as Da Afghanistan Bank has assured them that it has enough money and can control the market.

Da Afghanistan Bank has also stated that it can control the value of afghani.

“Fluctuations in the exchange rate in the market are common. Da Afghanistan Bank monitors the market carefully and has enough resources to meet the currency needs of the market. Da Afghanistan Bank is taking necessary measures to manage the market well,” said Haseebullah Nouri, the spokesperson of Da Afghanistan Bank.

Around three months ago, the afghani dropped from 86 to the dollar to less than 70.

Citizens, however, complain about the lack of impact of the rise in afghani value on commodity prices.

“Whenever the dollar rate goes up, food prices go up. Whenever the dollar rate goes down, food prices don’t change as much as they should. We want the government to control the commodity prices and dollar rate,” a Kabul resident said.

Meanwhile, Da Afghanistan Bank announced Monday that in order to maintain the value of the Afghan currency, it will auction $17 million on Wednesday.