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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.

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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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UN praises resilience of Afghans, raises concerns over restrictions on women and girls

The UN’s renewed commitment comes as millions of people across Afghanistan continue to depend on humanitarian assistance.

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The United Nations has praised the resilience of the Afghan people in the face of decades of conflict, poverty, displacement and climate change, while expressing concern over restrictions imposed on women and girls.

In a statement issued Saturday to mark the 81st anniversary of the UN’s founding, the organization said Afghans continue to face widespread humanitarian and economic challenges, while people returning to the country are also confronting numerous difficulties.

The UN said it remains committed to supporting Afghanistan through humanitarian assistance, healthcare, education, human rights protection, economic opportunities and disaster preparedness.

The statement emphasized that Afghanistan’s future belongs to its people and reaffirmed the organization’s commitment to helping Afghans address ongoing humanitarian and economic challenges.

United Nations Day is observed annually on October 24, marking the entry into force of the UN Charter in 1945.

The UN’s renewed commitment comes as millions of people across Afghanistan continue to depend on humanitarian assistance.

Meanwhile, the Islamic Emirate of Afghanistan has previously said that human rights are now better protected than ever in the country under Islamic Sharia.

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IEA rejects Pakistan’s allegations linking Afghanistan to insecurity

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Hamdullah Fitrat, Deputy Spokesperson for the Islamic Emirate of Afghanistan, has strongly rejected the repeated allegations by Pakistani officials that Afghanistan is involved in insecurity in Pakistan, saying that creating or supporting insecurity in Pakistan is not in Afghanistan’s interests.

In a statement published on his account, Fitrat said that whenever Pakistani officials are unable to ensure security in their own country, they blame Afghanistan for incidents in an attempt to mislead public opinion.

According to Fitrat, Afghanistan neither has the necessary means to create insecurity in other countries nor would it benefit from such actions, as insecurity in Pakistan also harms Afghanistan economically, socially and in humanitarian terms.

The deputy spokesperson added that instead of focusing on their own security responsibilities, Pakistani officials wrongly blame Afghanistan and spend resources on plans aimed at destabilizing the country.

Fitrat described this approach as a way of evading core responsibilities, destabilizing the region and wasting economic resources. He further said that this misguided stance has distracted Pakistan’s security forces from their primary duties.

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Khalilzad warns of worsening relations between Afghanistan and Pakistan

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Zalmay Khalilzad, the former U.S. special representative for Afghanistan, has warned that relations between Afghanistan and Pakistan could deteriorate further amid reports of alleged Pakistani recruitment and arming of Afghans.

In a statement, Khalilzad said there had been numerous reports alleging that Pakistan was arming Afghans to fight the Taliban in Afghanistan. He added that new reports suggested the Pakistani military was recruiting Afghans to fight anti-Pakistan insurgents.

He cautioned that, given the current situation, ties between Kabul and Islamabad were likely to worsen significantly.

Khalilzad’s remarks come amid ongoing tensions between the two neighboring countries.

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