Inflation rate drops by 3.5 per cent

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KABUL (SW) – Officials of the central bank, Da Afghanistan Bank have said that according to the latest statistics, the inflation rate in the country has decreased to 3.5 percent.

It was stated at the meeting of presenting the work report of the bank for the past year at the Government Information and Media Center in Kabul. According to the officials, the inflation rate has decreased from 15.3 % from the past year to to 3.5 % in now.

Ahmad Javad Sadad, the head of the monetary policy at the DAB, mentioned the factors of the decrease in the inflation rate in the past year: “The factors of the decrease in the inflation rate are the implementation of monetary policies and other issues, the increase in exports, which has had an effect. On the other hand, due to the decrease in the currency value of some countries in the region, the demand for Afghanistan’s currency has increased. Also, the humanitarian aid that comes to Afghanistan, without a doubt, has also played its role.”

The DAB officials announced that in the last solar year, it had an income of 8.6 billion afghanis, which shows an increase of 59% compared to the last year. The officials said in today’s meeting that in the past year, 3.1 billion worth of printed afghani banknotes arrived in the country.

According to the officials, the DAB intends to completely transform the Afghan banking system into Islamic banking in the future.

Mohammad Youssef Salim, head of Islamic banking at the DAB, told Salam Watandar: “Last year, we reviewed all the laws and regulations and tried to make changes to our policy according to the current conditions.”

Mohammad Abbas Sameh, head of market operations at the DAB, said: “Our efforts led to a decent increase in the country’s foreign exchange reserves.”

According to the latest statistics and information available, the country’s total foreign exchange reserves are more than 9.28 billion dollars, of which 7.3 billion dollars, equivalent to 79%, are in the control of the United States of America.

According to the information of the DAB, last year, the value of the afghani against the US dollar decreased by 1.01% while this figure was more than 13% in the year before.