Business
Neglecting of Central Bank Causes Afghan Currency Lose its Values
Money exchangers in Shazadah Market have expressed their concerns over increasing of US dollar prices against Afghan currency.
They have said,” it has been two weeks that Afghan currency has lost its values against US dollars in the markets one US dollar was exchanged from 58 Afghani but now one US dollar is exchanged up to 60 Afghani.”
The following money exchangers have declared the main factor for losing the values of Afghan currency is the neglecting of officials in central bank, and promoting of neighboring countries’ currencies in some provinces of Afghanistan.
Kabul money exchangers spokesperson Majid Hameedzadah said,” I declare the reason for Afghan currency fall against International currencies is interfering of the officials in central banks, earlier the following bank used to sell 80 event up to 100$ Million in the markets, but last week they sold only $50 million.”
Meanwhile a number of experts on economy sectors have addressed the reasons for losing Afghan currency values against international currencies are increasing of insecurity, low US dollars injected within the markets.
Economy expert Mohammad Mohsin Amiri said,” more than 80% of goods are being imported from neighboring countries, insecurity rocks.”
We tried much to get hold of officials in central bank but none has picked our calls.
Reported by Nimatullah Ahmadi
The Ministry of Commerce and Industry said Thursday it has signed cooperation agreements with ten institutions to support the development of small and medium-sized enterprises.
Nooruddin Azizi, Acting Minister of Commerce and Industry, said: “In the implementation of projects, we must pay special attention to our activities and actions and try to make useful use of the projects according to the requirements and benefit the beneficiaries.”
These ten institutions are to present their projects, the total value of which is around over $1.1 million. The projects will be carried out in Kabul, Baghlan, Ghor, Herat, Logar, Nangarhar, Balkh, Badakhshan and Jawzjan provinces and provide direct jobs for about 1,000.
To date, the ministry has signed MoUs for 72 projects in total, collectively valued at about $53.6 million.
These agreements have been signed with domestic and foreign companies for the establishment of small and medium-sized businesses.
In accordance with the principles and laws of the Islamic Emirate and prioritizing the implementation of projects for immigrants and returnees and internally displaced people, the ministry said 635,865 people will benefit through jobs directly and over 4.3 million will benefit indirectly in 25 provinces once these projects are implemented.
The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.
This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.
Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.
The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.
According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.
The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.
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